Abu Dhabi Investment House (ADIH) has announced the launch of India Entertainment City (IEC) fund, which would be financed through a $400 million Sharia-compliant fund. IEC is planned to be developed in the special economic zone of Navi Mumbai. The fund, which has an investment period of two and a half years, is expected to achieve a 75 per cent return on investment over the period of the investment, says a report in Gulf Daily News.
The new project is built on ADIH’s entertainment city concept, which is currently being implemented in Qatar - the Qatar Entertainment City. The concept consists of a mixed-use development comprising residential and retail components and focusing on the family entertainment industry.
The IEC fund is marketed through a placement team in the UAE, Qatar, Oman, Saudi Arabia, Bahrain, Kuwait and throughout the region. The fund is also being marketed to international investors.

Posted on 03/27/08, 11:40 PM
in: Private Equity
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