Estate purchase contract of SOFAZ in Milan to be completed

Baku. 16 May. REPORT.AZ/ As part of the current investment policy of the State Oil Fund of Azerbaijan regarding the purchase of an office building of Palazzo Turati in January in Milan, Italy is now nearing completion. 

Report was told in the fund.

Evaluation of real estate proposal located in Milan, carried out only by SOFAZ. As is known, "Palazzo Turati," is located in Milan's historic center and its first floor is the exhibition hall, the other 6 floors consisting of offices with a total area of 10 360 square meters. Office building of "Palazzo Turati," leased by Chamber of Commerce of Milan until 2021", the fund said.

According to the fund, the share of real estate in the investment portfolio increased by 10%, and now SOFAZ assessing direct investments in real estate and a number of other investment opportunities through foundations.