Saudi Arabian sovereign fund invests $100 mln in Tushino project

Interfax, 14.06.2018

MOSCOW. June 14 (Interfax) - Saudi Arabian sovereign fund Public Investment Fund (PIF) is investing $100 million at the project to build the Tushino science park, the Russian Direct Investment Fund (RDIF) said on Thursday.

The corresponding agreement was reached during Crown Prince Mohammad bin Salman's visit to Moscow, RDIF said.

It had been announced last year that PIF was joining the consortium, formed by RDIF and the Russia-China Investment Fund (RCIF) in partnership with Middle Eastern funds, to invest the project to develop the site of the former Tushino airfield in North-West Moscow. PIF signed an agreement on its intention to join the consortium in May 2017 but the amount of investment was not given at that time.

Vitaly Mashchitsky's VI Holding is investing a total of 90 billion rubles in the project.

The project covers a total of over 1 million square meters and includes the construction of class A offices, residential property and sporting facilities. The anchor tenant of offices at Tushino will be Rostec.