Dubai – Mubasher: Ento Capital, an entity regulated by Dubai Financial Services Authority (DFSA), has reportedly launched a $191 million (AED 702 million) sharia-compliant income generating property fund to finance its Wonderland Project.
The mixed-use project will be developed by Ento Wonderland Property Fund in three phases, Arabian Business said.
“The project was structured to be a preferred location for owners and lessees, and to meet their needs and expectations,” Ento Capital’s CEO Haitham Al Masri stated.
The Wonderland Project is planned to comprise hospitality, entertainment, and retail facilities.
With a 15-year tenure and the ability to extend for additional years, the Ento Wonderland Fund (CEIC) is committed to developing and operating the project, Arabian Business reported.
“The Wonderland masterplan and the detailed designs have been approved. The demolition of the existing buildings had been completed, and the space was prepared for the construction phase,” Al Masri revealed.
