Abu Dhabi: Twofour54, the commercial arm of the Media Zone Authority in Abu Dhabi, is set to invest in Falafel Games, one of the leading producer of online games in the Middle East.
Falafel Games was founded in 2010, involving Arab gaming developers, and has since then become one of the leading developers for MMO (massive multiplayer online) titles in the region, such as Knights of Glory, with the company being unique in that it develops its games along Arabic themes.
“We have started major expansion and growth initiatives, and some external financial resources will accelerate it,” said Vince Ghossoub one of the founders of Falafel Games.
Speaking further on how the investment from twofour54 will help Falafel Games, Ghossoub told Gulf News, “We needed more and more skilled human resources who are Arabic native speakers, and so it’s a very good fit for us to be working alongside twofour54.”
He says such investments are crucial for developers as Falafel Games, and other such similar companies looking to establish themselves.
“Investments are critical and necessary for encouraging the industry as well as giving positive signals to other investors about the potential. In any economy, the local investors always play a critical part.”
The gaming market in the Middle East is estimated to be at around $1 billion and continues to grow.
“The gaming market in the Middle East does face challenges, such as poverty, regulations, internet speed and connection. With the erosion of these challenges come tremendous growth for the market,” Ghossoub said.
“It is inevitable that Arabic content games will grow much more than its current share and I really hope many teams join us in creating this wave, it really depends on the risk appetite that each established company or entrepreneur is ready to take,” he said.
Noura Al-Kaabi, Chief Executive Officer of twofour54, spoke positively on the new joint venture.
“Our investment in Falafel Games provides further evidence of our commitment to create a thriving entrepreneurship ecosystem at twofour54. We want to support local talent and help start-ups fulfil their creative potential, which is vital to building and sustaining our media and entertainment industries.”
Twofour54’s other investments includes Tahadi Games, Jawaker, SAE Institute, D1G, PopArabia, T-Break Media, Akhtaboot, Nibras and Istikana.
— Sami Zaatari is a trainee at Gulf News.