Mirage to invest $1 billion in RAK
By
MEB Journal Staff
Hollywood-based production company Mirage Holdings said that it would invest $1 billion in the newly established Ras Al Khaimah (RAK) Media Free Zone and Film City
The project will reportedly be built over two million square meters, including both film studios and a media entertainment complex hosting an international film museum, film-making academy, shopping mall, miniature golf course, polo field and residential housing, according to a press statement from Mirage.
The RAK Investment Authority licensed the company to begin operating in late May, but did not disclose when the project would be completed, according to Vinod Natesan, a representative of RAK's tourism office. He said the project would employ both local and foreign staff to produce Hollywood movies and local productions.
Mirage CEO Michelle Nickelson touted the reduced cost of visual effects at RAK. "Visual effects are becoming extremely expensive, with several $200 million plus budget films coming out this year," she said in a press release. "The biggest cost is not the stars, it is the effects. By being able to fabricate visual effects in RAK using top designers in the US
"Whoever wants to set up a media industry here is most welcome," Natesan said. "We are not competing with anybody. We offer facilities and there are plenty of people coming." He added that in addition to Mirage Holdings, RAK will host Century Media Networks, a South Asian television production company as well as a yet to be announced Indian film company.
SILVER SCREEN DEBUT.
Emirates: N. Emirates, Volume 8
14.06.2006
Mirage Holdings, a spin off of the US RAK Media City
At the beginning of the year, Century Media Networks Incorporated, a South Asian group, leased the first 20,000 sq metre plot to be involved in television production and satellite up linking.Representatives of RAK Media City have explained that further expansion is possible once the existing zones are rented.
Still, those in Ras al-Khaimah insist that they are not in competition with Dubai Dubai Studio City Dubai Hollywood
By Sadiq A. Salam.4 January 2006, Khaleej Times
RAS AL KHAIMAH — In what is being considered as a milestone in economic and social development, RAK authorities have given the green signal for the establishment of the RAK Media Free Zone (RMFZ).
The Century Media Networks Incorporated (CMNI), an overseas venture, has been given the go-ahead to establish the RMFZ under the aegis of RAK Investment Authority (RIA).
The new facility will play host to media establishments, television channels, studios for audio-visual productions and computer graphics houses besides animation studios. "It will issue licences to them under the RIA mandate," he said, adding that RMFZ will lease ready-to-use office space and up-linking facilities where required, to such licence holders.
The RMFZ will also establish Free Zone which will lease land to investors who wish to set up their own media facilities, be it a printing press, a film studio, an advertising agency, a magazine office or a television studio. "To make use of RAK's colourful and rich landscape besides its rich history and heritage that makes it the ideal venue for film shoots, film studios and establishments linked to the film industry are also being issued licence by the RMFZ," he said, pointing out that a leading film-maker from India has already expressed interest in setting up a Film City in RAK.
He said: "The social milieu of Ras Al Khaimah, which has a distinct and international feel, will be all the more richer with the influx of highly qualified professionals who prefer a sophisticated lifestyle of peace and tranquility."
GULF NEWS. RAK free zone will grant licences to media establishments.
By Nasouh Nazzal, Staff Reporter
Ras Al Khaimah: Media establishments, television channels, studios for audio-visual productions, computer graphics houses, and animation studios will be issued licences by the RAK Media Free Zone under the emirate's Investment Authority mandate, officials said yesterday.Published: 01/04/2006 12:00 AM (UAE)
Hollywood production firm to set up film city in RAK.Mirage Holdings FZCO, a Hollywood based filmproduction firm, will set up and operate a Film and Media City
'Mirage Holdings FZCO has been licensed to operate the entire Film and Media City Emirates Highway Dubai International Airport
In addition to the production studio, it will have an entertainment shopping center, villas, apartments and office space for rent, a golfcourse and polo field. The total cost of the project will be close to USD 1 billion", said Michelle Nickelson.
Mirage Holdings FZCO is closely associated with Manex Entertainment, the visual effects studio which won back to back Academy Awards for the films, 'What Dreams May Come' and 'The Matrix'.
'With Manex, there was a brilliant design team and with Mirage, we have members of the same team on board. Visual effects are becoming extremely expensive, with several $200 million plus budget films coming out this year. The biggest cost is not the stars, it is the effects. By being able to fabricate visual effects in RAK using top designers in the US
Dr Khater Massaad, Advisor to the RAK Crown Prince and CEO of RAKIA, said that RAK Media City has issued free zone licenses to more than 20 companies which include two publishing companies looking at business publications, three television channels, designers, event organizers, advertising agencies and IT based operators, ever since its launch in January 2006.
He said that three films were shot in RAK last year and all of them have been hits. These include '36 China India
http://www.ameinfo.com/88478.html;00:55:58
Small emirate in UAE to be base for largest film centre in region
A film institute is also on the anvil, which will promote local talent and create a platform to address the global market.
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