India Entertainment City announces:

• Commencement of Infrastructure work in India Entertainment City
• Infrastructure divided into 5 contracts
• US$ 400 million value of the fund to finance the infrastructure of the development

Abu Dhabi, UAE:--India Entertainment City Company, a subsidiary of Abu Dhabi Investment House, announced yesterday the commencement of infrastructure work on its US$ 400million India Entertainment City project, in Navi Mumbai. India Entertainment City Company said in a release that tender review for the initial enabling works and site facilities has been completed and a contractor was selected. The enabling package includes site offices, boundary fences and other areas that will assist contractors to perform other infrastructure related work.

In addition to the enabling works package, the infrastructure work of the 400 acre (1.62 Km2) development was divided into a series of additional packages which have not all been awarded to contractors yet. These packages include: civil works, roads and hydraulics system; electrical, telecommunication and data services; central gas network and district cooling; in addition to a landscaping and pavements. This enables a more efficient work distribution.

India Entertainment City is one of a series of ‘Entertainment Cities’ created by ADIH, first of which is currently being developed in Doha, Qatar. The concept is an embodiment of a mixed-use development, encompassing residential, commercial / retail and entertainment components. The entertainment component will include film and multi-media studios, movie theatres, convention halls and other cultural elements. The residential area will consist of medium to high living areas including branded villas and neighborhoods.

India was selected as an ‘Entertainment City’ destination due to a few contributing factors such as the resilience of the Indian economy, government’s support to economic boost as well as expected growth of demand on Real Estate – from both investors and end users. Additionally, an Airport in Navi Mumbai will soon be established to facilitate further transportation to the area, as well as a bridge that will connect the southern and northern part of the province.

As one of the main industries for which India is renown, the entertainment sector presents boundless opportunities for rewarding investments. With a captive audience, India Entertainment City (IEC) will provide a home for actors and supporting industry professionals, along with world class leisure facilities and entertainment activities for all audiences.

Moreover, the chosen location for IEC, the rapidly developing commercial and industrial hub of Navi Mumbai, which is located on the outskirts of Mumbai City, will ensure that IEC becomes the heart of the entertainment industry. The sites are strategically located at the confluence of several arterial roads and in close proximity to several large infrastructure projects. The area has access to well-developed rail linkages as well as one of India's largest and most modern seaports - Jawaharlal Nehru Port Trust. The area is also located in close proximity to other large industrial areas, providing access to several feeder industries. Further, its location on the Pune-Mumbai-Thane knowledge corridor provides the site with instant access to skilled manpower in the region.

Mumbai, which is the capital city of India’s economic powerhouse Maharashtra, is the financial and commercial capital of the country. During the last decade, Maharashtra as a whole received investment of around USD 33 billion with UK, Italy, France, Germany and Mauritius being the major investors in the state. Infrastructure, auto components, engineering, chemicals, rubber, petroleum and software are the sectors in which FDI is concentrated. Maharashtra has the highest rate of implementation of investment projects at 48%, and is the first Indian state to formulate a specific policy for the development of Special Economic Zones (SEZ).

Built upon such a combination of factors, IEC presents an unprecedented investment opportunity for investors who are looking to diversify their portfolio by industry and region in line with Sharia guidelines. ADIH has already made considerable progress on IEC, appointing CB Richard Ellis who are finalizing the development strategy that is based on a master plan prepared by RTKL. International specialists Halcrow have already started designing the overall infrastructure requirements for the project.