Dubai, December 23, 2018 - King & Spalding LLP acted as counsel to Ento Capital Management Limited on the successful launch of Ento Wonderland Property Fund, a Shari’ah-compliant real estate development fund established in the Dubai International Financial Centre. The fund is managed by Ento Capital and is registered with the Dubai Financial Services Authority.
The fund is targeting over AED 700 million (approximately US$190 million) in commitments and will invest in the development of a multi-component project which brings together an open retail promenade, entertainment, hospitality, a marina and an amphitheater on an estimated area of 230,175 square meters located within the Umm Hurair area, overlooking the Dubai Creek. Following the development or the project, the fund’s objective is to generate long-term annual yields for investors, by operating or sub-leasing the project’s components.
Ento Capital is a Dubai-based alternative asset manager and financial advisory firm regulated by the Dubai Financial Services Authority.
The King & Spalding team on the matter was led by partner James Stull and senior associate Macky O’Sullivan and included partner Moustafa Said and associate Sayf Shuqair.
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