Font Size

- Aa +

Fri 1 Dec 2006 04:00 AM

Font Size

- Aa +

ADIH adds to real estate projects

Abu Dhabi firm to take lead on US $3b Qatar project

Abu Dhabi Investment House (ADIH) has added to its list of real estate projects in the region with the announcement of its US $3 billion Entertainment City project in Qatar.

In the first week after the project was launched, ADIH received more than 100 enquiries from investors.

The announcement follows the launch in October of the $600 million Beirut Gate project and The Lagoon Bahrain, which is valued at $125 million.

Company executives were also set to announce Sunset Hills, a $70 million residential complex in Al Areen, Bahrain, at this year’s Cityscape exhibition, where ADIH will exhibit for the first time.

Michael Lawrence, director of real estate for ADIH, said: “We are often asked how we can so quickly raise such large funds for these ambitious real estate investments.

“There are a number of common factors included in each of our projects that we have found to be particularly appealing to Middle Eastern investors.

“A good projected return on investment is the most important factor for all investors. However, in many cases, the importance of this is weighed against the perceived safety of the investment.”

He added that investors in the Middle East tended to look at the strength of the management team behind projects, an area where ADIH believes itself to be particularly successful.

Lawrence added: “Perhaps the biggest advantage of ADIH’s projects, and a huge attraction to Middle East investors, is their distinct and innovative nature. It is much easier to sell a concept when we can show how it differentiates itself from competing products.

“The added bonus to Middle East investors is that all of ADIH’s projects are Shariah compliant.”

ADIH has been operational for only one year, but aims to continue its strong rate of growth.

Rashad Janahi, CEO of ADIH, said: “Abu Dhabi Investment House will continue to launch diverse and high quality projects, which will keep on exciting investors from throughout the region.

“Looking to the long term, there may be a gradual shift from real estate developments to income-producing investments, as the Middle East marketplace become more mature and investor returns face some downward pressure.”

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.