May 13, 2017 / 9:12 AM / 3 years ago

RDIF-led consortium to invest $1.6 billion in Moscow real estate project

MOSCOW (Reuters) - A consortium led by Russian Direct Investment Fund and including Chinese, Middle East and other investors said on Saturday it would invest over 90 billion roubles ($1.6 billion) in a real estate development project in Moscow.

The consortium comprises Russia’s sovereign wealth fund RDIF along with the Russia-China Investment Fund, a joint venture between RDIF and China Investment Corporation, Russia-based international investment and industrial group Vi Holding as well as unnamed Middle East investment funds, RDIF said.

It said the real estate project targeted by the consortium would be located in the former Tushino airfield in northwestern Moscow. The project, with the total area of more than 1 million square metres, is to include Class A office park, residential property and other facilities.

Reporting by Katya Golubkova; editing by Vladimir Soldatkin/Mark Heinrich

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