Dubai, UAE, January /10/ 2017
Ento Capital Managment, an investment company licensed by the Dubai Financial Services Authority (DFSA), is geared to restructure Wonder Land project, located on Al Riyadh street in the heart of Dubai.
This was revealed yesterday by Hayssam El Masri, CEO of Ento Capital, who said the reconstruction cost, slated to start in Q1 2017, would be between AED1.6 and AED1.8 billion. The three-year2,4 million ft. project will be executed in phases. It will incorporate amusement parks and entertainment facilities, modern style stores and boutiques, food outlets and a cultural centre to become a landmark in the middle of the project thanks to its distinctive design. This is in addition to two furnished apartment blocks overlooking the enchanting Dubai Creek and a marina.
Wonder Park is currently in the process of obtaining preliminary approvals from Dubai Municipality and other authorities concerned in Dubai. “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”, explained EL Masri.
He noted that the company will be entering into a number of strategic partnerships with world class real estate firms and brands.
“A project on this major scale definitely demands agreements and partnerships for its timely execution at best levels. Dubai has been known globally for its distinctive innovations and exclusiveness of its achievements, and we are confident that Wonder Land project will achieve resounding success thanks to its attractive multi-components facilities and combining all prerequisites of an amazing location in one place”, stressed the EntoCapital CEO.
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.
“The Wonder Land project will surely be a major challenge for the company, because it is located in an attractive and interactive city that always seeks to have what is novel in the world. This propels our drive to be more creative in all phases of the project, particularly in design and operation”, said EL Masri.
Dubai has cemented its status in world markets, continued EL Masri, constantly providing investment opportunities and attracting investors from all over the world thanks to its transparent legislative environment, facilities and incentives in all sectors.
“One of the most important attraction factor is the seamless accessibility to neighbouring cities, countries and markets due to state-of-the-art networks of ports and airports that have made it a world class logistics centre. This is in addition to a magnificent road network and telecommunications facilities. The superb infrastructure, which plays a pivotal role in enhancing business activity and expansion plans in the region, has contributed to boosting the number of local and international companies investing in the Emirate, he said.
He underlined that the sustainable growth strategy followed by Dubai supporting domestic economy and the diversification of income had contributed to the creation of a multitude of investment opportunities in all economic sectors, including the financial services, tourism, manufacturing, modern technology, to name a few. 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, dining at various restaurants and unconventional entertainment. In all our investments, we create an environment that combines the elements of active and entertainment for a happy life”.