Adrian Cheng's ALMAD to bring Chinese anime brands to Dubai's Wafi City

Reuters12-11

Adrian Cheng's ALMAD to bring Chinese anime brands to Dubai's Wafi City

Dec 11 (Reuters) - Dubai’s Wafi Group has set up a joint venture with Adrian Cheng, the former CEO of Hong Kong developer New World Development, to bring anime-themed Chinese brands and entertainment to the Wafi City complex from next year.

The venture with Cheng's new investment firm, ALMAD, called Wafi Anime 11, will roll out exhibitions and pop-ups and introduce a private members’ club for high-net-worth clients across the Middle East and North Africa, the companies said on Thursday.

The Wafi City complex includes a mall, hotels, restaurants and residences.

Cheng, scion of one of Hong Kong's richest families, launched investment firm ALMAD this year to focus on digital assets and emerging markets.

Dubai welcomed about 824,000 Chinese visitors in 2024, up 31% from a year earlier, according to official data.

(Reporting by Roushni Nair in Bengaluru; Editing by Sahal Muhammed)

((Roushni.Nair@thomsonreuters.com))

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