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| Abu Dhabi |
Abu Dhabi Investment House (ADIH), one of the leading real estate companies in the UAE is planning large mixed-use developments in Abu Dhabi that will push the value of its private funds to over $l billion. Nicholas Fraser, executive director of ADIH will unveil plans for commercial and residential projects that could be larger than its $600 million Beirut Gate development in Lebanon.
The Abu Dhabi development will be announced later this year after details are finalised. Abu Dhabi is an untapped real estate market with a critical shortage of commercial and residential units, Fraser said. ADIH will invest $2.5 million of its own equity as a primary contribution. Waleed Zibawi, an official at ADIH said two mega projects are being evaluated for Abu Dhabi. “They will be some of the most prestigious projects announced in the emirate,” he said.
(Source: Gulf News)
