Bollywood to get $400m entertainment hub

Mumbai is home to Bollywood

Mumbai, the home of the Bollywood film industry, is to get a US$400 million development that will include film studios, multimedia studios and cinemas.

The Indian Entertainment City development will be situated just outside the Indian mega-city, and is being developed by the Abu Dhabi Investment House (ADIH). With work commencing this week, the Indian Entertainment City is set to become one of the first of ADIH's "entertainment cities", with the prototype of the mixed-use schemes being developed in Doha.

Construction schedule

With the primary stage currently underway, the second phase of construction due to start in February. This will include much of the project's infrastructure work, such as roads and civil works. A ground breaking ceremony of the economic development zone, of which Indian Entertainment City is part, is scheduled to take place next month.

ADIH has said it aims for the development to become "the heart of the entertainment industry" in India. Despite costing US$400 million, the investment is expected to achieve a 75 percent return on investment (ROI) over two and a half years.

"Indian Entertainment City will be one of ADIH's largest undertakings on a global scale," Rashad Y. Janahi, managing director and board member of ADIH, said in the statement.

"Having done extensive feasibility research and concept positioning, we are highly confident that IEC will be a one-of-a-kind project that provides a unique investment opportunity for our clients," he added.

"As the creator of the Entertainment City concept, ADIH will build on the experience from Qatar Entertainment City to leverage India's vast potential for investments in the entertainment industry," Janahi said.

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