Baku: The State Oil Fund of Azerbaijan (SOFAZ) has achieved a significant milestone by earning $1 billion in revenues from its real estate investments. The director of the Fund’s Investment Department, Farhad Zeynalov, disclosed this information, highlighting the growing impact of real estate on SOFAZ’s portfolio.

According to Azeri-Press News Agency, the total value of SOFAZ’s investments in real estate has now reached $3.5 billion, accounting for 5.9% of the Fund’s overall portfolio. Zeynalov noted that the real estate investments have yielded a profitability rate of 2.9%, underscoring the strategic importance of this asset class for the Fund.

Zeynalov also shared plans for the future, indicating that SOFAZ intends to continue its investments in real estate in 2025. This ongoing commitment is aimed at further enhancing the Fund’s income and diversifying its investment portfolio.