Russian Direct Investment Fund invests in logistics complex with partners
Russian Direct Investment Fund (RDIF), an Abu Dhabi-based sovereign fund Mubadala Investment Company and a number of leading Middle Eastern investment funds have completed investment on acquisition of a logistics park in the Solnechnogorsk district in the Moscow Region from Orientir, a full cycle developer specializing in logistics and industrial real estate, RDIF reported on Friday.
The investment transaction has become the largest deal with participation of foreign investors on Russia’s warehouse market so far this year, according to the report. The investment by RDIF and its partners is aimed at further expanding the Professional Logistics Technologies (PLT) logistics platform.
"Joint investments with Middle Eastern partners allowed PLT to expand its logistics portfolio by more than 30% this year alone and continue to develop the critical infrastructure required for the growth of e-commerce companies in Russia. We plan to expand the platform in the future by investing in new high-quality distribution centers that meet the requirements of growing companies," RDIF Chief Executive Officer Kirill Dmitriev was quoted as saying.
The Sever-1 logistics park located close to the Central Ring Road and the M11 highway, includes a high-tech A-Class distribution center with a total area of 114,000 square meters and accompanying infrastructure. The park is leased to Ozon, Russia’s leading e-commerce company.
In 2019-2020, Orientir fully upgraded the logistics complex so that it met the requirements imposed by e-commerce companies on the infrastructure of fulfillment centers.