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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

SOFAZ to keep searching for real estate in Asia

Posted on 07 April 2014

Azerbaijan’s state oil fund SOFAZ is planning to continue searching for commercially attractive real estate in Asia. “It’s not yet certain whether SOFAZ will manage to complete the investment policy in East and South-East Asia by purchasing Pine Avenue Tower A worth $447 million in Seoul,” SOFAZ said. “It is difficult to reveal and examine the economically attractive real estate in this region, but SOFAZ will continue going ahead in this direction,” the company added.
SOFAZ, an entity that accumulates and manages Azerbaijan’s oil and gas revenues, said earlier that it can spend about $1 billion to purchase real estate in Asia and Australia. Almost a half of the claimed investments have been already made in the purchase of real estate in Seoul………………………………………..Full Article: Source


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