Seeks consultancy for residential, fashion districts development

Business Tribune

June 2008

Abu Dhabi Investment House (ADIH) announced the appointment of Edifice, a Dubai-based international design and project development company, as the advisor on design and advisory board development for ADIH’s latest $7 billion development concept, Porta Moda a ‘Style City’ Concept that will feature mixed use developments with a highlight on fashion and design.

The appointment of Edifice comes after it had presented its vision and concept for ‘Porta Moda’ derived from the inspiration of the Persian carpet. the concept includes the initial design of the residential (branded homes and hotels) and fashion districts, as well as the retail, leisure (cafes and restaurants), museum, cultural gardens, and educational districts that will seek to attract young and upcoming designers to be trained by international experts in the design and style industries.

Rashad Y. Janahi, managing director and board member, ADIH, said: “We are delighted to have such an international firm as partners with us in this unique project. Edifice brings with it a wealth of knowledge and understanding in the field. We are confident that Edifice will help us in achieving our objectives when it comes to Porta Moda.

With Porta Moda, we want to help provide environments where the people can nurture their chosen profession in the world of style, design and fashion but be given the chance to stay close to the markets and consumers they serve. This undoubtedly the dawn new era in fashion and design. Shahram Foroughi, founder of Edifice, said: “We Are proud to be part of such a innovative and landmark project that will definitely make a difference to the young and talented designers around the world. This project doesn’t only change the destinations it will appear in, it will also change perceptions as well as contribute to entire industry in nurturing talents. ADIH Is a company that will ensure this change happens.” Edifice Has a renowned track record in planning an conceptualizing on famous projects such as: Legends Dubailand Theme Park Resort, Al Areen Desert Spa (Bahrain) and Entertainment City (Qatar). It is also a number of International Association of Amusement Parks and Attractions (IAAPA), Urban Land Institute (ULI) And the Project Management Institute (PMI).

the master planning of the Porta Modas around the world will be conducted by Washington based RTKL, Which employs a team of experts in the field to implement the project on high international standards and on due diligence to best serve the market segments targeted.

The Porta Moda Concept comes as a result of studies showing that young adults are moving towards studying aesthetics and arts. With Porta Moda Being within their geographic reach, they will be able to get their education at the hands of international talents and expertise. Additionally, the real estate industry is booming with in these countries – with growing populations representing an extremely big middle-class consumer market, resulting in the inherent attraction of major multinational companies.

Developments in the real estate sector as a whole are being driven by demand for more housing units in cities and towns because of growing urbanization of these countries’ population, burgeoning middle class, increased disposable income, easy availability of housing finance at cheaper rates and tax incentives.

Built upon such a combination of factors, Porta Moda presents an unprecedented investment opportunity for investors who are looking to diversify their portfolio white industry and region.