Mumbai, March 7

Bahrain-based Islamic bank Gulf Finance House will invest $10 billion over the next seven years for setting up an integrated economic development zone near Mumbai.

Spread over 1,700 acres, the zone is expected to generate employment for 2.5 lakh people. It will be one of the largest foreign direct investments in the country.

Land acquired

The land for the project has already been acquired by the bank from local land holders.

The ground breaking ceremony was performed by the Chief Minster of Maharashtra Mr Ashok Chavan on Sunday. The zone, which is located about 12 km away from Navi Mumbai, will have an energy, entertainment and IT district. The bank plans to attract global energy and entertainment companies who will setup their homes and offices there.

In October 2006, the bank had signed a memorandum of understanding with the Maharashtra Government for setting up an integrated energy business zone spread over 300 acres with $2 billion investment.

But in 2007, the bank signed a wide-ranging agreement with the State Government and investment was increased to $ 10 billion.

The scope of project was expanded to include zones for telecommunications, software and entertainment.

Fund-raising

The $10-billion fund required for the project is being raised from high net worth individuals and financial institutions of the Gulf Cooperation Council.

Mr Esam Janahi, Chairman of Gulf Finance House told reporters that the investment would be spread over seven years. The 480 acres entertainment district will be the first of the three components of zone to go live,” It is planned as a special attraction for entertainment and commercial uses, including a mix of hospitality, leisure and recreational facilities” he said

Mr Janahi said that the other two key components of the project are 760 acres of energy district which is part of a series of energy focused business clusters being developed by bank across Asia and West Asia. “The 470 acre IT/Telecom component, will features a centralized IT Office Park that acts as a business core catering to the IT/Telecom industries,” he said.

“We are open to all ideas regarding for investment in the zone and also keen to take India investment partners, so that the wealth created in the zone also gets shared here” Mr Janahi said.

The Mumbai Metropolitan Region Development Authority (MMRDA) will be the special planning authority for zone. It is also looking at taking some equity in the project.

(Source: iStockAnalyst )

Boris Johnson, the Lord Mayor of London has endorsed the campaign to restore Philip Vaughan’s iconic neon sculpture. The Hayward GalleryNeon Tower has been standing on the roof of the Gallery on London’s South bank since 1972 and has fallen into disrepair in the last fewyears due to budget problems at the Hayward Gallery. The campaign to restore the Tower has been supported by designer Ron Arad, sculptorAntony Gormley and F1 racing engineer Patrick Head and many others within the arts movement in Britain.

Boris Johnson recently issued the following statement in support of a full restoration:

“The Hayward Gallery Neon Tower is an iconic part of the London skyline. Since the 1970s it has inspired a generation of designers and artists to
think again about what sculpture is, and to see the creative possibilities of light, technology and public space. I wholeheartedly back the campaign for its restoration and hope it will inspire a new generation of Londoners to gaze up in admiration.”

Rowan Moore, the London Evening Standard’s art critic reviews the New “Supercontemporaries” show at the Design Museum on London’s South Bank.

When asked what London did for his work, Ron Arad, the star designer and sculptor generously contributed a video piece for the show calling for the restoration of the famous Neon Tower originally built in 1972. The Design Museum has now set up a website petition where people can add their names to the call for the Light Sculpture’s restoration

http://www.thisislondon.co.uk/standard/article-23703272-details/Ways+to+make+London+a+better+place/article.do

http://www.london-se1.co.uk/news/view/3928

Please sign the online petition at:

http://www.gopetition.co.uk/petitions/resurrect-the-hayward-gallery-neon-tower/signatures-page1.html

Philip Vaughan joins Marty Sklar and a select group of EPCOT Veteran Imagineers at the Thea Award Ceremonies in Anaheim. Philip Vaughan worked at the time for WED Enterprises, the forerunner of Walt Disney Imagineering. He was involved in Set and Animatronic Construction and Installation for the ‘World of Energy’ and ‘Mexico’ Pavilions during the construction of EPCOT, which opened in 1982.

From the Themed Entertainment Association’s Press Release:

THEA CLASSIC AWARD

Epcot, Walt Disney World, Orlando FL, USA

EPCOT (the name was originally an acronym denoting “Experimental Prototype Community of Tomorrow” in accordance with Walt Disney’s original vision) is the revolutionary creation that demonstrated that education and entertainment can be part of the same attraction package and successfully presented in a theme park environment. EPCOT combined thoughtful, intelligent content and visionary R&D (research & development), all powerfully delivered via state-of-the-art theme park storytelling and technical excellence. Even today EPCOT ranks among the best-attended theme parks worldwide. The World Showcase, Test Track, Soarin’, Spaceship Earth and more continue to draw enthusiastic guests season after season.

Since it first opened in 1982, EPCOT has revolutionized and redefined the possible in several sectors of the themed entertainment industry and it has influenced not only the development of theme parks but also museums, branding experiences, educational attractions and more. For more than a quarter century, it has been the gold standard for information-based or inspiration-based themed entertainment. The world continues to study EPCOT, learn from it and aspire to emulate it. In addition, through opportunity or inspiration, EPCOT also launched the careers of many who today lead our industry, including a number who today lead companies that are active members of TEA. By all that EPCOT dared, all that it achieved, and all that it signifies even today to our entire industry, it fulfills the conditions of a Thea Classic venue, continuing to inspire the world and set high standards while standing the test of time.

Watch this space for occasional updates of projects and process at Vertex Productions.

The Construction Journal of India recently interviewed our own Robin Hall about his work on Camp Snoopy at the Mall of America.
-Article by Sampathkumar Iyangar

Read excerpts from Robin’s interview

ADIH’s policy of employing the best-in-class industrial expertise is exemplified in our choice of Vertex Productions.

—Rashad Janahi, CEO - ADIH and Chairman - QEC

Vertex Productions, a US-based entertainment consultancy company will provide industry expertise to ensure the Entertainment cluster of QEC is designed with utmost innovation, creativity and efficiency, based on international standards.

QEC, which is scheduled to be launched at the end of 2007 is a 1 million sqm development project located in Lusail, Qatar, and is being designed to encompass three different clusters: residential, business and entertainment.

The firm develops projects for companies wishing to outsource their design divisions, and provides a location-based service for the duration of the assignment. The Vertex team has been involved in the development of attractions including museum exhibits, thrill rides, simulators, stunt shows, sport attractions, and zoo exhibits, to name but a few.

The consultancy team will draw on its involvement in such internationally renowned projects such as The Kennedy Space Center, Knott’s Berry Farm in the US,  and Paramount China to make QEC a mega attraction that appeals to the investment and lifestyle interest of global clients.

Rashad Janahi, CEO - ADIH and Chairman - QEC, said, ‘ADIH’s policy of employing the best-in-class industrial expertise is exemplified in our choice of Vertex Productions. We are proud of this new partnership and are confident that it will result in high returns to both investors and developers,’ said Mr. Janahi.

Philip Vaughan, President and Founder of Vertex Productions, said, ‘The Vertex team has worked on major projects in Asia, Europe and across the US, and is currently involved in major projects in Seoul, UAE and Hong Kong. We are excited to bring our design experience to a project as promising and ambitious as Qatar Entertainment City, backed by a reputation as successful as that of ADIH.’

The Vertex team will be working hand-in-hand with the RTKL team, Qatar Entertainment City’s masterplanners, to design the entertainment outlets.

The $3bn Entertainment City development in Qatar offers a modern slant on traditional Arabian hospitality. This colourful assembly, ideal for investors and sub-developers, is located at the heart of the master planned Lusail Development, north of the capital, Doha.

Stunning leisure and recreation facilities lie at the heart of Entertainment City. Adjacent to an enterprising business hub sprawls a fusion of themed attractions, entertainment complexes and a wide range of retail choices.

Accommodation has been carefully considered to include villas and apartments; serviced retreats; dynamic office space and several 4 and 5 star hotel properties.

Qatar’s already impressive growth in the tourism sector will be gauged by such development and significant financial returns can be expected.

See ADIH press release here