BAKU, Azerbaijan, March 6. The State Oil Fund of Azerbaijan (SOFAZ) continues to increase its stake in real estate worldwide, with shares in over 500 properties across various global locations, said Farhad Zeynalov, Director of the SOFAZ Investment Department, Trend reports.
Addressing the event "SOFAZ Media Dialogue: Investment Results of 2024 and Prospects for 2025," Zeynalov highlighted that since its establishment, the Fund has achieved an annual return of 2.9 percent, or about $1 billion, from its real estate investments.
"The portfolio's distribution across regions and sectors is aligned with the global real estate index," he noted.
To date, the Fund owns four real estate assets, located in Moscow, London, Paris, and London. We plan to continue real estate investments in the current year.
Furthermore, I would like to mention that last year we resumed our gold purchases. We acquired nearly 45 tons of gold bars during the year, and by the end of last year, our total gold portfolio reached about 147 tons. This year, we will continue our gold purchases, with a target to increase gold's share in the Fund's investment portfolio to 25 percent," he added.
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