EDB and Griffin Partners Move to Practical Implementation: Credit Agreement Signed for First Stage of Warehouse Construction in Almaty
Almaty, 10 August 2026. — The Eurasian Development Bank (EDB) and international developer Griffin Partners have signed a credit agreement to finance the first stage of construction of the Griffin Logopark Almaty warehouse complex. The document is a logical continuation of the memorandum of understanding signed by the parties in June 2026 on the sidelines of the EDB Annual Meeting and Business Forum.
The credit funds will be allocated for the construction of the first phase of the Class A+ logistics park with an area of approximately 120,000 m². The total investment in the Griffin Logopark Almaty project is approximately $125 million.
The facility enjoys a strategic location in the northern part of Almaty, close to the Almaty Ring Road (BAKAD), with direct access to the A3 highway (Almaty — Konayev — China). The complex is part of Alatau City, an emerging digital, technological and logistics hub on the outskirts of Almaty.
The new infrastructure facility will create approximately 600 jobs, attract foreign direct investment and establish a high-quality logistics platform in the northern part of the city. Completion of the first phase is scheduled for Q1 2027.
Sergey Ignatov, Senior Managing Director, EDB:
"The transition from a memorandum to a credit agreement is a natural stage in our strategic partnership with Griffin Partners. Financing the first stage of construction confirms that the EDB is delivering on its commitments to develop modern warehousing infrastructure in the region. I am confident that our joint projects will set a new quality standard for warehousing real estate in Central Asia."
Oleg Gusakov, Representative of Griffin Logopark Almaty LLP:
"Construction, which began in July, is now receiving credit support from the EDB. The first phase will become the foundation for the further development of the entire logistics park. Such projects serve as a basis for the development of surrounding areas, including the dynamically growing Alatau City.."
It should be recalled that the signing of the memorandum of cooperation between the EDB and Griffin Partners took place on 25 June 2026 during the EDB Annual Meeting and Business Forum in Almaty. At that time, the parties agreed on the joint implementation of the Griffin Logopark Almaty project with a total area of 125,478 m². The signing ceremony was attended by Aybol Rakhimbayev, Head of the Department of Entrepreneurship and Industrial and Innovative Development of the Almaty Region, who noted the strategic importance of the project for the development of the region's transport and logistics potential.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 348 projects with a total investment of US $22,1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
Griffin Partners is an international developer and asset manager specializing in Class A properties across all real estate segments: industrial, commercial, residential and mixed-use. The company combines global experience with a deep understanding of local markets, offering full-cycle solutions — from development to property management.
Over 28 years of operation, Griffin Partners has delivered projects with a total area of over 1.3 million sq. m, of which more than 500,000 sq. m are Class A industrial and logistics complexes. The company's managing partners have a combined experience of more than 30 years in the real estate sector.
The company has a network of offices in Russia, Europe and Central Asia. Today, Griffin Partners is actively developing projects in Kazakhstan and Uzbekistan: the Griffin Logopark Almaty logistics park of 125,421.4 sq. m in Almaty and the SAMARKAND Logistics Park of 40,000 sq. m in Samarkand.
Griffin Partners' core values are flexibility, quality and sustainable development. Among its completed projects are winners of industry awards, including the CRE Federal Awards winner.
The EDB Media Centre:
+7 (717) 255 84 84, ext. 4774, 2160