Number of Dubai Media City partners rises by 20% in 2005

Dubai: The number of partners in Dubai Media City rose 20 per cent from 880 in 2004 to approximately 1,077 in 2005.

Dr Amina Al Rostamani, executive director of Media at TECOM Investments, said this is proof of the steadily increasing market demand in Dubai, which she said was expected.

"We are proud to say we have provided a community, if you like, where your neighbour could be a potential client or partner," Al Rostamani told Gulf News yesterday.

"So given this huge interest from existing and future partners, we decided to increase our facilities," she said.

New towers in the Dubai Media City are expected to be completed by May or June, catering to the needs of established and potential partners.

In total, 75 per cent of available space is set aside for new companies and the remaining 25 per cent is reserved for companies already operating.

According to Al Rostamani many companies are on the waiting list to enter DMC, and at least another 150 companies want to expand.

"It is a very organic growth, especially as Dubai is now a hub. We are midway between Europe and India and have easy access to business across the region," added Al Rostamani.

Segments

There are currently eight media segments in the DMC, of which marketing, broadcasting and publishing enjoyed the greatest growth.

In 2005, 20 new television channels were introduced. There were 60 companies in the Media City last year, up from 40 in 2004.

In order to handle the rising demand in the broadcasting, film and television industry, Dubai Studio City (DSC) was introduced.

It covers 22 million square feet and investment in infrastructure has hit Dh400 million.

Work on the boutique studios has begun and they are due to be handed over in January 2007.

The complete facility will contain production, post-production, equipment rental, business and satellite centres as well as hotels, residential and film schools.

"Following the success of the Dubai International Film Festival (DIFF), we realised there was strong potential to grow talent from the Middle East," Al Rostamani said.

Furthermore, the publishing market in the UAE also experienced substantial growth, with international names such as The Wall Street Journal and The Daily Star establishing offices in the DMC.

International

Capitalising on the success of the DMC as well as the growing interest from international players, the International Media Production Zone (IMPZ) was then formed.

IMPZ, spread across 43 million square feet, offers a production and service environment for the printing, publishing and production industries and will be ready next year.

"These are the main projects we are focusing on now, and once complete, we will then get a clear idea of future plans," said Al Rostamani.