Silk Road Fund to join Tushino ex-airfield development project - RDIF
The China’s Silk Road Fund has joined the consortium formed by the Russian Direct Investment Fund (RDIF) and the Russia-China Investment Fund (RCIF) in partnership with leading Middle Eastern funds to invest into the real estate development project of the former airfield Tushino in Northwestern Moscow, RDIF press service said on Tuesday.
The corresponding Term Sheet was signed today as part of China’s President Xi Jinping’s state visit to Russia.
"The engagement of such a high-profile investor as the Silk Road Fund confirms the global scale of the project and its importance for international partnerships and sustainable development. Our partners, the investors from China, the UAE, Saudi Arabia and other countries, will provide financing and use their expertise to implement the project according to the highest global standards," Chief Executive Officer of RDIF Kirill Dmitriev said in a comment.
"The project is in line with RDIF strategy to invest in the development of the most promising infrastructure facilities that represent the drivers of economic growth," Dmitriev added.
Tushino development project will comprise sports and recreational facilities, Rostec-City Class A business park, residential properties and social infrastructure facilities.