Raven Russia creates a joint venture with RDI Group
Raven Russia Limited, created by the British developer Raven Mount to invest in the Russian real estate market, is creating a joint venture with the investment and development company RDI Group, operating in the Moscow region. The joint venture will build warehouse complexes in Russia. The new project of the joint venture is a class “A” logistics complex with a total area of 104 thousand square meters. m on Kashirskoye Highway, 9 km from the Moscow Ring Road south of Moscow. The cost of the project is estimated at $117 million. The area of the land plot for the new facility will be 22.4 hectares. A press release distributed by Raven Russia notes that the agreement provides for the possibility of Raven Russia purchasing the partner's share after completion of the project. The first phase of the project will be completed by the end of 2008, the second - by the second quarter of 2009, depending on rental demand, the statement said.
