Abu Dhabi Investment House (), the leading financial institution in the Middle East, appointed Forrec Ltd, the Canadian based international leader in planning and designing entertainment projects, as the Leisure and Attraction Consultant for the US$ 3 Billion Entertainment City Qatar, developed within Lusail Development Project north of the Qatari capital, Doha.
Mr. Rashad Janahi, Chief Executive Officer of Abu Dhabi Investment House, the company behind developing Entertainment City Qatar and Mr. Steven C. Rhys Senior Vice President of Forrec signed the agreement in London last night.
According to the agreement, Forrec will provide strategic consultations on matters related to leisure and attraction in the Entertainment City project, including providing information on the different designs within the project, feasibility studies, operations, cost, and particularly the integration of these elements within the master plan of the project. Forrec will also assist Abu Dhabi Investment House in selecting suitable operators to the different components of the project, attract investors, and identify marketing and promotion activities.
On this occasion, Mr. Rashad Janahi, Abu Dhabi Investment House CEO, said: “In Abu Dhabi Investment House, we are always committed to choose the best for our projects. Entertainment City Qatar is considered one of our most innovative projects; this is why we selected Forrec, which has one of the most experienced institutions in the field of entertainment projects. We are confident that this agreement will add value to ECQ. Abu Dhabi Investment House has always been able to stand out among competitors and achieve profits and revenues for investors and clients that are higher than market rates. We work hard, and we always try to make use of the best investment opportunities. We have, for example, launched two new real estate projects during the last two weeks, and we have more to announce at the right time.”
Entertainment City Qatar, exemplifies the traditional hospitality of Arabs. This project is considered a perfect choice for investors. It is located within Lusail Development Project, and will include many tourism and entertainment facilities near the business center, entertainment complexes, attraction city and a big collection of retail shops. Within this marvelous city, housing components were chosen carefully from among villas, apartments, houses, all of which are located in tranquil areas. There are also modern offices and several 4- and 5-star hotels.
Mr. Mahmoud Naib Chief Development Officer of Abu Dhabi Investment House, said: “Forrec is considered one of many companies and consulting agencies that have approached us to develop the Entertainment City Qatar project. We have studied these companies thoroughly and selected the most appropriate one. It was evident that Forrec, a large international company with the capability to execute our development program within the specified timeframe, is very suitable for our requirements. We are delighted to work with Forrec and we are confident that the project will benefit from their international experiences.”
Forrec Ltd. is a global leader in planning and design of themed environments, including landmark entertainment facilities. With more than 30 years of hands-on international experience have given the ability to their design teams to accurately plan, design and manage every aspect of a project’s development from the creative concept to its launch. Forrec is unique within industry for having built projects in more than 20 countries; in North and South America, Africa, Europe, Asia and the Middle East. Forrec has the capabilities to develop projects that suits all cultures, lifestyles, climatic conditions, and regulatory environment, solely or jointly with different partners. The International giant engaged itself in numerous successful projects for major entertainment companies such as Universal Studios, Paramount Parks, Lego, Nickelodeon, Marvel, CenterParcs, Samsung Everland and Herschend Family Parks.
On the other hand, since inception, ADIH has been associated with major landmark infrastructure projects across the region including Beirut Gate, Entertainment City Qatar, Sunset Hills, the Lagoon on Amwaj Islands, Porta Reef in the Kingdom of Bahrain. ADIH is promoted by leading financial institutions, a group of prominent businessmen and investors from the Gulf region, mainly from Abu Dhabi, one of the main financial and economical centers in the region. It focuses on the existing and emerging potential in private equity, corporate finance, real estate, asset management, investment placement, and has interests in managing Initial Public Offerings (IPO's) and buying and selling domestic and international securities.
