The Abu Dhabi Investment House (ADIH) launched a $300 million Hospitality Development Fund (HDF), which will invest mainly in projects in the Middle East, North Africa, and Asia. ADIH said in a statement the minimum projected IRR for the fund is 20 per cent. Middle East Gulf Finance Bank and Ithmar bank are among the fund advisors for HDF.
Managing Director of ADIH said “HDF will cater mainly to investors who are looking to diversify their investment portfolios by adding Sharia compliant hospitality related products to their current basket of investments.” Rashad Y. Janahi said the fund will invest mainly in airlines, tourism, accommodation, food services and leisure and other sub sectors of the hospitality industry.
