conglomerate founded 1991 founder azay mohnatov headquarters baku azerbaijan area served europe key people azay mohnatov founder and president products construction production property retail tourism website afholding.com af holding international is one of the largest conglomerate companies in azerbaijan . the company headquarters is located in baku with offices in frankfurt and london . af holding is active in business sectors of construction production property retail and tourism which are based in baku and abroad . 1 contents 1 business areas 1.1 construction 1.2 finance 1.3 production 1.4 property 1.5 retail 1.6 tourism 2 see also 3 references 4 external links business areas edit construction edit af construction is the division of af holding for building residential buildings for the company itself and consists of companies which are ugur 97 everton int . and muradli construction companies . finance edit af bank is the previous name of vtb bank azerbaijan which is now controlled with 51 % majority stake by vtb bank . production edit af production is the division of af group which is active in industry of producing plastic products and consists of afsan plastics af pen pvc doors and windows and other factories . 2 property edit af property is the real estate division which is responsible for developing the property business and manages a number of properties of af holding . it consists of properties and businesses such as euro home construction marketplace chain af business house office building and af property limited . retail edit af retail is responsible for managing retail properties including af mall af euro home af com center af com plaza and others . 3 tourism edit af tourism and hotels is the division of afholding for hotels and aqua parks which are af hotel aqua park aqua park shikhov aqua park baku and others . see also edit af hotel aqua park list of conglomerates list of companies of azerbaijan vtb bank references edit the times russian pioneer sets the pace in the development race archived april 30 2013 at the wayback machine . history of af holding archived august 19 2012 at the wayback machine . external links edit af holding af holding uk af hotel aqua park the times newspaper article about af holding v t e azerbaijan articles history early kura araxes culture khojaly gadabay culture shulaveri shomu culture mughan culture jar burial culture leyla tepe culture mannaeans medes achaemenid empire atropatene caucasian albania parthian empire arran caucasus sasanian empire shirvan middle ages sajid dynasty sallarid dynasty rawwadids shaddadids shirvanshahs kingdom of syunik siunia dynasty eldiguzids ilkhanate principality of khachen house of dop house of hasan jalalyan kara koyunlu ag qoyunlu safavid dynasty afsharid dynasty zand dynasty qajar dynasty russo persian war 1804 13 treaty of gulistan russo persian war 1826 28 treaty of turkmenchay modern armenian tatar massacres march days armenian azerbaijani war azerbaijan democratic 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