The total investments of the State Oil Fund of Azerbaijan (SOFAR) in the acquisition of real estate abroad is estimated at $1.7 billion, the press office of the government informed Interfax news agency on Thursday.
“In 2016, the State Oil Fund of Azerbaijan at the initial stage invested 10 million euro in buying property in Frankfurt (Germany). In general, SOFAR equity participation in this this property amounts to 41 million euro,” – the source in the government said.
According to local media, the matter concerns the investment of the State Oil Fund of Azerbaijan in a building of Junghof Plaza, located in Frankfurt’s downtown.
SOFAR made the first real estate investment in December 2012, having acquired an office complex in West London on St James Street 78.