Moscow, November 26, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund and Mubadala Investment Company, UAE’s sovereign wealth fund, have joined leading investment funds from the Middle East to announce the agreement between Professional Logistics Technologies (PLT) and Orientir, a full-service warehousing and industrial real estate developer. The agreement will result in the acquisition of a distribution center in the Moscow region and will increase PLT’s portfolio by over 25%.
The warehouse, located near Solnechnogorsk (the Moscow Region) is in close proximity to the Central Ring Road and has a total area of more than 100,000 square meters. Russia’s leading e-commerce company, Ozon, is the tenant of the A-class distribution center.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“RDIF together with partners from the Middle East supports the expansion of PLT’s logistics capacity and the strengthening of the platform’s competitive position aiming to increase its gross lease area to 1mn square meters. The development of logistics infrastructure in close proximity to busy commercial routes allows to optimize traffic flows and reduce delivery time, thus serving more customers. We will continue to seek new opportunities in the Russian logistics market.”
Andrey Postnikov, Director General of Orientir, said:
“Orientir creates a high-tech modern warehousing product of institutional quality, and long-term contracts with tenants enable this product to be highly appreciated by banks and investors. As part of our further development strategy, we have signed a contract with PLT for the sale of Sever-1 distribution center. Sever-1 is currently the largest leased fulfillment center for servicing online-orders in Russia and Orientir’s portfolio”.