Apr 08 2008 |
more articles from
|
ADIH's 'Style-Cities' to cost up to $5-7 billion
ABU DHABI -- Abu Dhabi Investment House (ADIH) will develop five Style-Cities in Abu Dhabi, Doha, India, Morocco and Tunisia, for a total cost of $5-7 billion, over the next five years."The project called Porta moda will seek to attract international brand names in the style, design of fashion, jewellery, furniture and luxury living from both academic and retail aspects, to create style and design hubs in select emerging markets," said Rashad Y. Janahi, managing directors of ADIH , at a Press conference.
The first of its kind 'Style-City' concept is a mixed-use development, comprising residential and retail components while focusing on fashion and style. The city will feature a grand fashion district containing premium and luxury brands in the fashion, jewellery
and interior design fields; an educational district containing institutions for the same, as well as museums and exhibition centres; as well as residential and a leisure district with town houses, studios, luxury villas, cafes, restaurants and renowned hotels and spas.
In order to move ahead with the new concept, ADIH yesterday signed MoUs with the partners. The master planning of the Porta Modas around the world is being developed based on high international standards and on due-diligence to best serve the market segments targeted. The selection of destinations that 'Style-City' will appear in, comes as a result of studies on flexible government regulations and the economic growth potential these countries enjoy.
The first fund in the series, which is being planned in near future is a $150 million offering for the Morocco project.
Dr Hani Shammah, CEO of Emirates International Properties part of Emirates International Investment Company (EIIC) of Abu Dhabi said that there are several options for the proposed project, to be developed in Abu Dhabi.
"We have a very big, a medium sized as well as small project in mind. We have not decided as yet," he told Khaleej Times. He hinted that company will evaluate its best options before going for the project, which may take couple of years to realise.By Haseeb Haider
© Khaleej Times 2008
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment