Dubai Media City (DMC) turned six in January. One of the Dubai government’s first projects in diversifying its economy with knowledge-based business clusters, DMC recently announced a 10 percent increase in the number of new companies staking their headquarters there.
The demand for DMC’s products and services is apparent in the number of companies setting up shop. The number increased from 1,092 in 2005 to 1,213 in 2006.
Dubai’s hub for all things media related, DMC continues to grow rapidly. In December 2006 the third phase of the project was announced: Media Business Centre, the flagship facility for independent media professionals, already houses more than 366 media professionals. An expansion is also planned that will include 27 towers to be built by private investors within the free zone boundary.
The number of companies that broadcast from DMC is also increasing. Currently, 60 companies operating about 150 television channels are based in DMC.
DMC is also attracting a significant number of publishers to the free zone. More than 120 publishing houses—both regional and international—have established offices in DMC. These publishers have launched about 400 titles from the free zone into various markets around the world thus far.