The Abu Dhabi Investment House (ADIH) has announced the launch of 26 billion dirham ($7 billion) Style City, a project that will seek to attract international brand names in the style, design of fashion, jewellery, furniture and luxury living, the Gulf News reported.

Besides India, the Style City concept will be launched in Abu Dhabi in the UAE, Qatar, Morocco and Tunisia as part of a series of agreements ADIH has signed with major developers in these countries. “There are many talented young designers in the region who are traditionally drawn to cities such as London, Paris, New York and Milan to develop their skills,” ADIH managing director Rashad Janahi was quoted as saying.

“We want to help provide them environments where they can nurture their chosen profession in the world of style, design and fashion but be given the chance to stay close to the markets and consumers they serve,” he added.

First of its kind, Style City, is a mixed-use development, comprising residential and retail components while focussing on fashion and style, according to the report. It will feature a grand fashion district comprising premium and luxury brands in the fashion, jewellery and interior design fields, an educational district comprising institutions as well as museums and exhibition centres, and a residential and leisure district with town houses, studios, luxury villas, cafes, restaurants and renowned boutique hotels and spas.

ADIH has also signed two pacts with Gulf Finance House (GFH), to establish Porta Moda, the commercial brand name for the Style City, in GFH’s North African developments that are under way in Morocco and Tunisia.
Qatar Entertainment City and India Entertainment City in Navi Mumbai, which are being developed by ADIH, will be the locations of Porta Moda Qatar and Porta Moda India, respectively.

(Gulf Business Capsule)

Indo-Asian News Service

Hero Group forays into realty
Munjals promoted-Hero Group is foraying into real estate construction through a group company called Arrow Infrastructure and said it may look out for a partner in the future.

Arrow Infrastructure, which has developed a residential complex for the employees of Hero Honda’s new plant , would look beyond executing projects for the Hero Group, Hero Honda Motors’ Managing Director Pawan Munjal told reporters here. “This is the start for the company (Arrow Infrastructure) and it will go out and do business outside,” he added.

Arrow Infrastructure has taken up the project for construction of the residential complex at Haridwar plant, aiming to bring`in modern infrastructure facilities such as shopping complex and schools.

PTI