Doha - The Abu Dhabi Investment House and Majid Al Futtaim Group signed a memorandum of understanding (MoU) yesterday to start building part of Qatar Entertainment City at a total cost of approximately $1.5bn. The agreement calls for the two companies to build over 50 percent of Qatar Entertainment City, a mixed-use development in Lusail.
The water-front development consists of residential, retail and entertainment facilities shared out in five districts including an urban environment downtown, a waterfront boardwalk, a North Shore with apartments and hotels with waterfront view, a South Shore comprising hotels, villas and retail with waterfront view, and The Villas.
Qatar Entertainment City is the first project being implemented under the 'Entertainment City' concept, created by the Abu Dhabi Investment House (ADIH). The project is a holistic, fully integrated family entertainment destination covering a total area of 1 million sqm of development and 180,000sqm of international leisure, retail entertainment and restaurants.
The City will feature a snow dome, multi-purpose arena, water taxis and light rail transportation to ease movement of visitors. In addition, 4,500 residential units including themed villas and sea-view apartments with full community facilities will also be available for purchase.
© The Peninsula 2008
