Abu Dhabi Investment House (ADIH) has launched a $7bn development concept focused on fashion and design, which it plans to roll out across the Gulf, North Africa and India.
The concept, known as Porta Moda, will have a retail district offering luxury brands in the fashion, jewellery and interior design fields, as well as residential, educational and leisure districts.
ADIH has signed memorandum of understandings to develop Porta Moda cities in Abu Dhabi, Qatar, Morocco, Tunisia and India.
Emirates International Properties, the real estate arm of Emirates International Investment Company will develop Porta Moda Abu Dhabi, while Gulf Finance House will establish Porta Moda cities in Morocco and Tunisia.
Qatar Entertainment City and India Entertainment City will develop Porta Moda Qatar and Porta Moda India respectively.
ADIH recently signed a $1.5bn agreement with Dubai-based Majid al-Futtaim Group to develop over 50 per cent of Qatar Entertainment City (MEED 9:4:08).
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