HOORAY FOR DUBAIWOOD !
DUBAI, United Arab Emirates - 03/08/05 - Dubai will add a "studio city" to an array of dedicated "cities" and other mega projects that are turning the affluent Gulf emirate into a regional business and leisure hub.
"Dubai Studio City will offer a complete technical and community  infrastructure for the film, TV and music production sectors to flourish," said a statement issued by Dubai Media City (DMC).
It said that the city would be built within the complex housing Dubailand, a project that has been described as the Middle East's version of Disneyland.
The infrastructure for the first phase of the project will be completed by the first quarter of 2006.
The city will "provide the same benefits that companies in the other entities of the Dubai Technology and Media Free Zone enjoy", including 100% tax exemption for 50 years and 100% business ownership, the statement said.
"Today there are more than 120 channels operated by 40 broadcast companies based in DMC. Currently only about 20 percent of the production work of these companies is done in Dubai," said DMC chief executive officer Abdel Hamid Juma.
"As much as 80 percent of these companies are looking to do their production in Dubai itself. Dubai Studio City is creating infrastructure and capacity to cater to this demand," he said.
Dubai, one of seven members of the United Arab Emirates, hosted an international film festival in December during which 77 films from more than 25 countries were screened.
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