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Azerbaijani businessmen – king of Russia’s real property

Forbes magazine announced list of Kings of Russia’s Real Properties for 2016.

Azerbaijan-origin Zarakh Iliyev and Qod Nisanov headed the list. They earned $1.27 billion from rent of property in the balance of the company "Kiev area". The company rents of trade center in 1.238 million m² area and an office in 69,300 m². "Kiev area" has 1,550 hotel rooms.

 

In 2015, business of Iliyev and Nisanov was affected by geopolitical factors. After Russian aircraft was downed by Turkey, official Moscow imposed sanction against Ankara. After this, the businessmen had to close Food City trade center, which was used for storage of fruits and vegetables imported from Turkey.  

 

Other Azerbaijani businessman Araz Agalarov ranked 11th. His Group of Companies “Crocus Group” earned $265 million from the rent of real properties. The Group rents trade center in 536,000 m² area and an exhibition pace in 680,000 m² area. Crocus Group has 225 hotel rooms. The Group opened three-floor oceanarium with the area of 10,000 m². By the way, the company’s debt reaches $1.7 billion.

 

The list included 30 companies.

 

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