Raven Russia was formed in order to build and acquire an investment portfolio of Class "A" warehouse complexes in Russia under the brand Raven Russia. Raven Russia Holdings Cyprus Limited is a wholly owned subsidiary of Raven Property Group Plc which is listed on the London Stock Exchange. For over a decade the Company has been operating out of Cyprus and has an investment portfolio of circa 1.9 million square metres of Class "A" warehouses in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novogorod and 49,000 square metres of commercial office space in St Petersburg.


The Company manages its property investment portfolio with the objective of delivering long term growth in capital value and rental income while effectively managing risk.

Over more than a decade it has built and acquired circa 1.9 million square metres of space in major Russian cities, with the majority situated in the Moscow Region. Where appropriate opportunities arise, the Group will look to expand its investment portfolio through both development and acquisition. 

While the Company's investments are in the Russian Federation, it has invested previously in other countries including Ukraine and Belarus. In line with our strategy we are continually seeking further opportunities within the Logistics sector in the Russian Federation and any proposals from third parties should be sent in the first instance to Jeremy Sturgess jsturgess@ravenrussia.com

Business Model

Our business model aims to generate high rental income yields in the under supplied warehouse logistics market in Russia and principally in the Moscow region. Tenants tend to be large domestic or international groups with strong underlying covenants. 

The Board has responsibility for directing the day to day operational business of the Company and the wider Group. This includes responsibility for risk management across the portfolio, overseeing acquisitions and disposals, as well as running Treasury, Senior Debt Origination and the portfolio management function. We have historically operated within prudent, secured gearing levels with senior debt secured in ring fenced financing structures. We consider this a very important part of our risk management strategy.


Related Businesses


RosLogistics is a wholly owned, third-party logistics business.

It has traded since 2002 and provides outsourced warehouse storage and transport services, including value-added services such as co-packing and labelling of goods. Its principal centres of operation are in Moscow and St Petersburg.

For more information visit: http://www.roslogistics.ru


RuConnect is a 40% owned joint venture company with our Chinese partners Bestlyn. Operating as a Third Party Logistics company (3PL) in the Russian Federation it is principally involved in Business to Consumer (B2C) Logistics with its principal client Cainiao, the global parcel tracking platform of Alibaba. 

Board of Directors

Neil Smith


Neil joined Raven in 2007 and combines the roles of managing director of Raven Russia Holdings Cyprus Limited and Head of Structured Finance. He is a qualified chartered accountant having trained with BDO Stoy Hayward and has a Masters degree in Real Estate. Prior to joining Raven, Neil worked in the investment banking divisions of various banks, the most recent of which was in Structured Finance Real Estate at Royal Bank of Scotland. Neil is a Cyprus resident and established the Cyprus office in 2007.

Chris Dryden


Chris is a director of Raven Russia Holdings Cyprus Limited and chair of RosLogistics. He has been an RICS member for 30 years and has a masters degree in European property development and planning from Newcastle University. He has twelve years experience in Russian real estate including as Head of Valuation at JLL and most recently as managing director of Ghelamco in Moscow. Prior to this, Chris was the head of valuation across Central and Eastern Europe with DTZ, based in Budapest. Chris is a Cyprus resident.

Lukas Noga


Lukas combines the roles of a director of Raven Russia Holdings Cyprus Limited and Deputy Head of Structured Finance. He holds Masters degree in Finance. Prior to joining Raven, Lukas worked for 10 years in various positions at Aareal Bank originating and managing deals in CEE and Russia. Lukas is a Cyprus resident.

Jeremy Sturgess


Having been a Co Founder with Anton Bilton of the The Raven Group in the early 1990's, Jeremy rejoined the group as a director of Raven Russia Holdings Cyprus Limited. He has over 30 years of commercial and leisure property experience in a wide range of roles most recently as Group Head of Real Estate and Member of Executive Management for Orascom Development Holding SA a Swiss listed resort developer. Prior to this in 2005-2007 he worked closely as a consultant to Raven Russia in Ukraine. He started his career as a fund manager at Baring Brothers in 1984. Jeremy is a Cyprus resident.

Angela Pittashi-Nicolaidou


Angela Pittashi-Nicolaidou qualified as a Chartered Certified Accountant in 2003. Prior to joining Raven Russia Holdings Cyprus Limited as a Director in 2011, she spent 8 years with PWC Cyprus and 3 years with BDO Kendalls Melbourne gaining experience with corporate and international taxation and VAT as well as auditing property investment funds.  With over 20 years experience in her field, she is the CFO of the Company. Angela is a Cyprus resident.

Johannes Kallweit


Johannes provides legal advice to the board of directors of Raven Russia Holdings Cyprus Limited, including corporate and regulatory matters as well as advising on banking, M&A and JV transactions and the underlying documentation. He is a solicitor qualified to practise in England and Wales. Prior to joining Raven Johannes worked for 12 years as a banking and corporate lawyer for various international and local law firms in London, Moscow and Nicosia. Johannes is a Cyprus resident.

Corporate Governance

Raven Russia Holdings Cyprus Limited is a wholly owned subsidiary of Raven Property Group Limited. which is listed on the London Stock Exchange. As a listed entity, the Cyprus Board is obliged to adhere to the same listing rules as our parent, RPG. We conduct all business honestly and ethically. There is a no tolerance approach to bribery and corruption. Procedures are in place to prevent and report bribery, money laundering and other forms of corruption with a policy that protects whistle-blowers. We require all our business partners to adhere to the same high standards.

The Board has delegated certain aspects of its responsibilities to Committees through terms of reference. The Board and its Committees have regular scheduled meetings and together with the schedule of matters reserved for the Board, the Committees allow the Board to discharge its duties effectively.

Corporate Responsibility and Environmental report

Corporate responsibility covers different aspects of the business but our primary focus is on the environmental impact of our activities and properties and the social impact in the jurisdictions in which the Company operates. It is the responsibility of the Board to manage the environmental, economic and social impact of the Company's business strategy.

Risk management

The Board places significant importance on identifying and managing the risks facing the business. These encompass the risks, real and perceived, of operating in a foreign market such as Russia, and the more obvious cyclical, property specific risks, presented by the development and investment in a large property portfolio. Risk and uncertainties are accepted as part of doing business and are managed accordingly.