SOCAR buys new office building in Turkey for $75 million

07.01.2015 11:30

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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