Abu Dhabi is stepping up its efforts to become a global hub for the media and entertainment industry as part of a drive to diversify its oil-based economy.
The oil-rich capital of the United Arab Emirates has consolidated its so-called cultural and creative industries – essentially museums and media industry infrastructure – into a single unit called DCT Abu Dhabi which plans to invest $6 billion more over the next five years. years in industry sectors ranging from media, film, games and music, as well as investments in building more museums and other cultural attractions.
The post-pandemic relaunch announcement follows Abu Dhabi’s previous $2.3 billion investment in projects that are already at an advanced stage of completion on Abu Dhabi’s Saadiyat Island. In addition to already housing a Louvre outpost, the man-made island also includes the Yas Creative Hub, a state-of-the-art media and entertainment complex on track for full completion by Q4 2021.
The Yas Creative Hub, built on over 60 acres with flexible workspaces and studios of all sizes, has already attracted hundreds of companies including CNN, Ubisoft and Vice and expects to have thousands of tenants by the end of the year, in part thanks to the so-called Abu Dhabi Creative Visa program that helps cut red tape and provides tax benefits. The program also includes strategic initiatives fostering partnerships with local businesses, such as the film and production entity Image Nation Abu Dhabi, Abu Dhabi Gaming and the Abu Dhabi Film Commission.
“With the entire CCI under one umbrella, DCT Abu Dhabi is able to harness the natural synergies between the emirate’s cultural, tourism and creative sectors, making Abu Dhabi a center state-of-the-art facilities, exceptional talent and rewarding and sustainable opportunities,” DCT Abu Dhabi Chairman Mohamed Khalifa Al Mubarak (pictured) said in a statement.
“DCT Abu Dhabi’s established cultural sector will work hand-in-hand with sectors such as multimedia and video games, facilitating collaboration and strong local and global partnerships in support of Abu Dhabi’s innovative and ambitious vision. added DCT Abu Dhabi Undersecretary of State Saood Al Hosani.
The Yas Creative Hub will have post-production and visual effects facilities as well as studio soundstages, some of which will be inside the complex, although the main soundstages will be located elsewhere.
Abu Dhabi is gaining traction as an international production location thanks to its discount of up to 30% on qualifying spend, combined with hassle-free paperwork and logistical support. Recent Hollywood shoots include “Mission: Impossible 7” and Denis Villeneuve’s “Dune.”
