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Key deals with leading global players by IMPZ

- December 13, 2005, 11:20 am

Reflecting the strong investor sentiment that the project is generating across the region, International Media Production Zone (IMPZ), part of Dubai Holding, announced key deals with leading global players, including Thomson Group, Al Ghurair Printing, Heidelberg, Galadari Investment, DynaGraph and Express Printing, for the development’s printing, packaging and publishing clusters.

Other major investors include Giffin Graphics, Arab Media Group, Emirates Printing Press, Moghoya Investment, MANRolland, Agfa Pre-Press, Fuji, Kodak-Creo and Vimpex (Austria).

The deals - comprising investments in printing, packaging and publishing clusters of IMPZ - will significantly contribute to Dubai’s economic growth.

Highlighting the significance of the project, Mr. Hamad Al-Huraiz, Director of Operations, IMPZ, said: ‘The regional economic boom is translating into huge opportunities for the printing, packaging and publishing sectors. This is fuelled mainly by rising demand from media, education and healthcare industries. As a result, the infrastructure requirement of these sectors is growing at an unprecedented pace. iMPZ has been conceived to fulfill this need by integrating all areas of printing, publishing and packaging under one roof.’

‘IMPZ will capitalize on Dubai’s strategic location between Asia and Europe, offering enhanced market reach, cost efficiencies and sophisticated infrastructure. By shaping Dubai into an outsourcing base for the mature markets of US and West Europe, iMPZ will significantly boost investments in the Emirate,’ he added.

Emphasizing IMPZ’s investment potential, Mr. Hamad Al Huraiz said the zone aimed to maximize value for investors on a sustained and long-term basis. ‘It is this strong value proposition that has encouraged investments by leading players in IMPZ. I welcome all our investors including the Thomson Group, Al Ghurair Printing, Heidelberg, Galadari Printing and Express Printing, onto the IMPZ platform. These strategic deals will substantially expand the scope of printing and packaging operations in the region and cluster leading players in Dubai, making it a potential international hub for media production.’

Envisaging an initial investment of over Dhs. 1 billion, IMPZ is being developed on a 43 million square feet on Emirates road and is targeting completion by the third quarter of 2007. Apart from the IMPZ investment, printing and packaging companies are expected to invest Dhs. 1.5 billion in machinery alone in iMPZ.

While the industrial plots have been completely leased out, IMPZ has commenced reservation of pre-built units. Set in an area of 2.3 million sq feet, the pre-built units, comprising state-of-the-art warehouses and showrooms, are being developed at a cost of AED 300 million.

IMPZ is offering a total of 76 pre-built units including showrooms with warehouses, car parking and mezzanine floors. Other offerings by iMPZ include a Media Market, a detailed retail resource stocking specialized art and production goods, an exhibition and conference hall, a business centre, a hotel and a media community centre with facilities such as art galleries, cafes and activity centers. The community support services in iMPZ include schools, day care centers, parks, fitness and outdoor recreation facilities.

The benefits of operating from iMPZ include 100% exemption from taxes, 100% repatriation of profits, 100% foreign ownership, no customs duty and low operating costs. In addition, partners can benefit from straightforward laws and regulations, flexible labour laws and world-class technical infrastructure including high bandwidth, low cost, secure telecom facilities.

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