Ento Capital restructures Wonder Land project at a cost of AED 1.8 billion
Ento Capital Managment, an investment company licensed by the Dubai Financial Services Authority (DFSA), is to restructure the Wonder Land project, located on Al Riyadh street in the heart of Dubai.
Hayssam El Masri, CEO of Ento Capital, announced the reconstruction cost would be between AED1.6 and AED1.8 billion.
The three-year, 2.4 million square foot project will be executed in phases and is due to start in Q1 2017. It will incorporate amusement parks and entertainment facilities, modern style stores and boutiques, food outlets and a cultural centre. This is in addition to two furnished apartment blocks overlooking Dubai Creek and a marina.
“The project will be one of the most attractive entertainment destinations in the region, attracting visitors from all over the world and enhancing the status of the emirate on the world’s map of leading entertainment centres. The location of the project is a prime factor in appealing to visitors with a wide array of amusement options”, said EL Masri. Adding that the company will be entering into a number of strategic partnerships with world-class real estate firms and brands.
Ento Capital, based at the Dubai International Financial Centre (DIFC), has been working on a wide variety of creative investment products in various categories including asset management (real estate and others) and developing and managing projects, real estate funds and securities portfolios, and most of its funds will be based in the DIFC.
EL Masri said that Dubai has cemented its status in world markets, constantly providing investment opportunities and attracting investors from all over the world thanks to its transparent legislative environment, facilities and incentives in all sectors. He anticipated that the emirate will attract more foreign investment in the coming years, particularly from companies seeking to explore new markets that yield lucrative investment returns.
“It is marvelous addition to the entertainment facilities in the UAE and a brilliant destination representing a unique and lively entertainment choice. It has many options for visitors, making it the ideal place for all family members for entertainment and dining… In all our investments, we create an environment that combines the elements of active and entertainment for a happy life,” he said.