SOFAZ plans to invest into the property in Japan, said SOFAZ Executive Director Shakhmar Movsumov.
He said prior to that SOFAZ bought the office building Pine Avenue Tower A in Soul worth $447 million. According to SOFAZ, the building was fully leased to S&K Group, one of the biggest conglomerates in South Korea. Annual net rental fee for the building is $23.4 million.
First time SOFAZ invested into the property in 2012 and bought the office building in West End of London for 177.35 million pounds. In 2012 SOFAZ also bought a building in Paris for 135 million Euro. The last acquisition of SOCAR was the shopping and office centre Actor’s Gallery at the Pushkin Square in Moscow for $133 million.
By April 1, 2015 SOFAZ’ assets dropped by 5.86% against early 2015 ($34,104,100) and totaled $34,930,500.
SOFAZ was created on December 29, 1999, but it actually started its work in June 2001 and that time its assets totaled $271 million.—0—
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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