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Sat 2 Dec 2006 12:00 AM

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Qatar development booms as ADIH fronts up $500mn

Part of the Lusail mega-project in Doha, Entertainment City has received strong backing from investors

Abu Dhabi Investment House (ADIH) is ploughing US $500 million (QR1.8 billion) into the construction of a mixed-use theme park in Qatar.

Entertainment City is to be built as part of the $5 billion Lusail development in north Doha.

“We are delighted to confirm that this development, which we have been conceptualising for some time, is set to go ahead,” said Rashad Janahi, CEO, ADIH.

“I can also say that investor interest in this project has been buoyant before we even start.”

The project will cover one million m2 of land on a 1km-long section of beachfront.

It will provide a mix of hospitality, leisure and recreational facilities, with complementary commercial and residential components including theme parks, themed hotels, speciality shopping, restaurants, cinemas, a theatre and a bowling alley.

“Entertainment City is designed to attract broad demographic profiles, from children to young adults and business incentive groups,” added Janahi.

“It will be a fusion of traditional Arabic hospitality and contemporary leisure lifestyles.

Sub-themes will revive legends surrounding the area’s famous traders and seafarers, ancient Arabic castles, forts, cities and forgotten kingdoms.”

Lusail is a new waterfront city that is intended to be the biggest domestic real estate development in Qatar.

It will cover an area of 35 million m2 and will be located next to the Pearl Qatar in the north of Doha.

The project will be made up of two marinas, residential areas, commercial districts and leisure facilities, including two golf courses, shopping malls, schools and medical centres.

Another major component of the development is Energy City – which will act as an oil and gas hub, providing access to markets and expertise for global hydrocarbon players.

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