Media business people who shift their operations to the city can take advantage of the strategic position of Dubai at the crossroads of the Middle East, Africa and south Asia to target an audience of nearly two billion people. Typical of Dubai's ongoing success story, this latest development does not take place in an infrastructural vacuum or even in what can be barely characterized anymore as a stretch of desert. Sheikh Mohammed's press conference launch of DMC took place at the Jumeirah Beach Hotel, the first of three incredibly luxurious hotels that run along the beachfront towards DIC, Media City and the American University. From an investment perspective Media City is the third point completing a triangle of concentration linking DIC and DMC with the recently announced Dubai Ideas Oasis, which appears to be a consortium of venture capital investors designed to stimulate the launch of e-businesses. Sheikh Mohammed also told the press that 82 percent of the space in DMC had already been booked by local, regional and multinational companies, among them TV producers, record companies, post-production studios and freelance service providers.
Growth is vital for business.
As I look across the region at today's existing media capitals, we see trade legislation and practices that inhibit the growth of business. Media owners should welcome a new and free business environment in which to grow and expand free of the constraints they might encounter in other locations. This awareness and practice of freedom is the foundation of the creation of Dubai Media City. I am aware of the vital importance this holds to the media world. I guarantee freedom of expression to all of you and the right to be completely objective in your views and reporting.