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ADIH Begins Enabling Work on $400m Mumbai Project
ABU DHABI - Abu Dhabi Investment House, or ADIH, has commenced enabling works and site facilities for its $400 million India Entertainment City project in Navi Mumbai.
- PUBLISHED: Fri 15 Jan 2010, 11:45 PM UPDATED: Fri 20 Sept 2024, 11:26 AM
The work includes site offices, boundary fences and other areas that will assist contractors to carry out infrastructure-related construction. The investment company also announced that the Phase II of the infrastructure work on the project, comprising 75 per cent of the total area, will commence in February. The company has awarded a contract for the Phase II of the infrastructure work, which includes civil works and roads network. Remaining infrastructure work includes electrical, telecommunication and data services; central gas network and district cooling; in addition to a landscaping and pavements, says a company announcement. A formal ground-breaking ceremony of the Economic Development Zone, of which, India Entertainment City is a component, will take place next month. India Entertainment City is one of a series of Shariah-compliant 'Entertainment Cities' funds created by Abu Dhabi Investment House, first of which is currently being developed in Doha, Qatar.
The concept pivots around a mixed-use development, encompassing residential, commercial, retail and entertainment components.
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The entertainment component will include film and multi-media studios, movie theatres, convention halls and other cultural elements.
The residential area will consist of medium to up-scale areas including branded villas and neighbourhoods.
“India was selected as an 'Entertainment City' destination due to a few contributing factors such as the resilience of its economy, government's support to economic boost as well as expected growth of demand on real estate for both investors and end users,” says a Press release issued by the investment company.
The company expected Indian project to contribute to the economy by providing numerous jobs.
The project which will be built is located on the outskirts of the financial capital in an area which is rapidly developing into commercial and industrial hub of Navi Mumbai.
· haseebhaider@khaleejtimes.com
