Azerbaijan’s state energy company SOCAR has bought a new office building in Istanbul for $75 million, the company said on its website.
Kenan Yavuz, head of SOCAR’s Turkey unit, signed an agreement on January 6 to buy the 19,000 square-meter building, which is part of the Vadistanbul office and residential complex in Istanbul.
The office will be ready for SOCAR to move in by March 2016. A 10-year loan agreement has been signed with Odeabank to fund the project, SOCAR said.
All staff of SOCAR Turkey, which is implementing $20 billion worth of projects in the country, will be based in the new office, Yavuz said.
ANN.Az
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