The Hindu Business Line : ADIH launches $400 m India Entertainment City fund

DUBAI: Abu Dhabi Investment House (ADIH) has launched a $400 million fund to finance India Entertainment City (IEC), which will be developed in India's newly announced economic zone in Navi Mumbai.

The fund, which has an investment period of two and a half years, is expected to achieve a 75 per cent return on investment (ROI), said a company statement.

Mr Rashad Y Janahi, Managing Director and Board Member, ADIH said, India Entertainment City will be one of ADIH's largest undertaking on a global scale.

"Having done extensive feasibility research and concept positioning, we are confident that IEC would be a one-of-a-kind project that provides a unique investment opportunity for our clients," he said.

Mr Janahi said that as the creator of the entertainment city concept, ADIH would build on the experience from Qatar entertainment city to leverage India's vast potential for investments in the entertainment industry.

The fund will be placed through the ADIH placement team and underwriters, who are marketing it across the Gulf. The team is available in each of the UAE, Qatar, Oman, KSA, Bahrain and Kuwait.

The fund is also being marketed to international investors, based on high levels of indicated interest, he added. - PTI

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