In 2017, revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the leasing of the Gallery Actor shopping and office center in Moscow amounted to 7.8 million manats (about $4 million), according to the company's financial statements.
So, in 2016, SOFAZ's revenue from leasing this property item amounted to 5,1 mln manat, which means the growth of 52.1%. According to the SOFAZ report, as of the end of 2017, the value of the Gallery Actor shopping and office center was estimated at approximately 3,4 billion rubles ($50,6 mln) against 4.9 billion rubles ($73 mln) at the end of 2016.
As a reference, SOFAZ purchased the Gallery Actor shopping and office center in 2012 for $133 million. The facility with a total area of more than 18,000 square meters is located at Tverskaya Street, 16, in the center of Moscow. The building is fully leased to various financial, insurance, consulting and trading companies.
The State Oil Fund of Azerbaijan, established in 1999, accumulates revenues from the sale of oil contracts, in particular from the sale of profitable state oil, transit tariffs for the transportation of oil and gas through the territory of the country, as well as from the lease of state property.
