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Dubai, UAE: Massive construction work at the International Media Production Zone (iMPZ) has started. IMPZ is the first Free Zone in the UAE, dedicated to media production activities, providing a highly pro-business environment and a complete technology and community infrastructure to support and foster the growth of media production. The Project is due to be completed in 2007 and about 35 per cent of the project is ready.
The Investment in the second phase of the massive ongoing construction, which will comprise mainly offices, will approach Dh700 million. "The idea behind this project is to provide cutting edge technology giving clients complete confidence in the potential of the industry," said Hamad Al Huraiz, executive director of IMPZ.
International Media Production Zone (IMPZ)
Printing and packaging companies, of which 36 have already signed up, are expected to invest Dh1.5 billion in machinery alone in IMPZ as they prepare to move in to the zone. All industry plots have been leased, with 10 companies getting ready to start digging in two months. Sales deals have also been finalized with residential clients such as Damac, ETA and Sukouk.
"It does not matter how many companies we sign with. We have 500,000 square feet of leasable space, which will be filled out," said Al Huraiz.
The interest in the free zone is a proof of the growing publishing market in the UAE, according to Abdul Qadir Mohammad, managing director of Express Printing Services. "There are at least 340 printing houses here and it is a highly competitive market. Even Germany is not moving this fast," he said.
IMPZ is located on an area of over 50 million sq. ft of land, and seeks to create a cluster of media production companies. Creating an eco-friendly environment and infrastructure the International Media Production Zone supports all sectors of the media and entertainment production industry especially publishing, printing, broadcast, film and music.
Via Gulf News
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