State Oil Fund of Azerbaijan (SOFAZ) has been negotiating purchase of Sydney-based office of Macquarie Group investment bank located in the historical building, writes www.virtualaz.org quoting The Australian.
The bank has put its office in Sydney for sale and has been negotiating with several buyers with SOFAZ among them.
Azerbaijan has offered $350 million for the building.
In early 2013 Macquarie Group announced its intention to sell its Sydney-based office. SOFAZ Executive Director Shakhmar Movsumov said in his interview to The Wall Street Journal that SOFAZ plans to invest capital into commercial property in Australia. Since that time the Fund with the assets worth $34.5 billion studies Australia’s immovable property market.
The Wall Street Journal also reported that new owners of Macquarie Group office will face serious limitations with the building operation, because the building is included into the list of Australia’s historical heritage. Investment of capital into commercial immovable property is considered among the most profitable ones. This is not SOFAZ’s first purchase. The Fund has earlier bought the building in London for 177 million pounds and in Paris for 135 million Euro.—0--
Economics
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
-
S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
-
In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
-
A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
Leave a review