16:24 - 3.11.2020

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November 3, Fineko/abc.az. The State Oil Fund of Azerbaijan has sold Seoul-based office complex Pine Avenue Tower A for 521.5 bn Korean wons.

ABC.AZ was informed at SOFAZ that the complex, whose construction finished in 2011, had high corresponding rental rates and the Sofaz had stable rental income since the purchase of this facility for 470 bn wons in March 2014.

The Fund's return on renting out this property was 31.4%, the return on price growth 4.8%, and the total return 36.2%.