Media free zones spree
January 3rd witnessed the launch of the RAK Media Free Zone. Late 2005 we also heard about Fujairah's plans for Fujairah Creative City. Every emirate is trying to jump on the media free zone bandwagon. What those emirates are seeing is smaller companies suffering as a result of spiraling rents in addition to the simple lack of office space.
Dubai Media City seems to have no issues giving out licenses to companies, taking their money for the first 3 months' rent and simply saying, "Sorry, we cannot tell you when we will be able to provide you with office space." When an investor protests, they tell them to go elsewhere if they don't like it. Well, RAK and Fujairah saw an opportunity.
The question is, will RAK and Fujairah be able to match Dubai's success in building a brand for their emirates? Dubai Media City didn't come out of nowhere like the others. It built its reputation on Dubai's. Will cheaper rent justify the move of big players to those new free zones or will it simply attract the smaller fish?
Dubai Media City seems to have no issues giving out licenses to companies, taking their money for the first 3 months' rent and simply saying, "Sorry, we cannot tell you when we will be able to provide you with office space." When an investor protests, they tell them to go elsewhere if they don't like it. Well, RAK and Fujairah saw an opportunity.
The question is, will RAK and Fujairah be able to match Dubai's success in building a brand for their emirates? Dubai Media City didn't come out of nowhere like the others. It built its reputation on Dubai's. Will cheaper rent justify the move of big players to those new free zones or will it simply attract the smaller fish?
posted by Dubai Media Observer at 10:43 PM
4 Comments:
The Dubai Media City experiment took off very well. The demand far exceeds the supply for most of their offerings.
I find the response and customer of RAK Zone commendable. Let's see what Fujairah has to offer.
I have yet to find any contact information to either -- if you do, I would very much appreciate it. I know that I have no intentions of moving my firm over to any of those emirates any time in the near future, despite my general dissatisfaction with DMC.
Just posted the link to RAKFTZ on my blog today in response to an American copywriter's query about job opportunities in Dubai.
Check it out here:
http://farrukh.wordpress.com
I've started and created brief articles for Dubai Studio City, Fujairah Creative City, Ras Al Khaimah Media Free Zone and Film City, on Wikipedia.
Links:
Ras Al Khaimah Media Free Zone and Film City
http://en.wikipedia.org/wiki/Ras_Al_Khaimah_Media_Free_Zone
Fujairah Creative City
http://en.wikipedia.org/wiki/Fujairah_Creative_City
Dubai Studio City
http://en.wikipedia.org/wiki/Dubai_Studio_City
If you guys can contribute something substantial that'd be awesome.
Thanks
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