London: The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported generating a total of £18.9 million ($25.05 million) in revenue from its St James office complex in London in 2024. The Chamber of Accounts provided a review highlighting this financial achievement.
According to Azeri-Press News Agency, the market value of the St James building was appraised at £195.8 million or $259.08 million by the end of 2024. A significant portion of the income, amounting to £12.55 million, was attributed to the increase in the building’s market value.
St James’s Place, located in the West End of London, is strategically important for high-class office and financial activities. This area hosts international companies such as Cond© Nast, Artemis Fund Management, and Citibank. Additionally, luxury hotels and membership clubs, including White’s and Boodle’s, are situated in the vicinity.