Griffin Partners, a U.S.-based real estate investment and development firm, has signed an agreement with the Eurasian Development Bank to build a 125,400-square-meter warehouse complex in the new city of Alatau. An agreement to create a Class A+ logistics park was signed at the «Eurasia 2030+» EDB annual meeting and business forum in Almaty.
The $125 million project will be implemented in two phases. First, the investor will build 62,700 square meters of warehouse space and then complete the construction in the third quarter of 2027.
The logistics complex will be part of Alatau City near Almaty and will have direct access to the A3 highway (Almaty – Konayev – China). Once the warehouses are fully operational, they will attract international and local tenants, facilitate foreign direct investment and create a convenient platform for freight transportation in the northern part of Almaty.
According to Oleg Gusakov, a representative of Griffin Logopark Almaty, the EDB’s support is crucial for implementing a high-quality infrastructure facility with predictable completion dates, transparent lease agreements and stable operating conditions. He also highlighted that similar projects serve as the foundation for the further development of the surrounding areas, including the rapidly growing Alatau City.
In turn, representatives of the Eurasian Development Bank noted that the project is part of Eurasia’s transport and logistics framework and that the bank is interested in implementing similar projects as they set a new quality standard for warehouse real estate in the region.
Headquartered in Houston, Texas, Griffin Partners specializes in commercial real estate and has already completed several cross-border projects.
Meanwhile, the EDB plans to invest more than $1 billion in warehouses across Eurasia by 2031, according to Alexey Rogachevsky, the bank’s director for Uzbekistan.
