ABU DHABI, 20 May 2012 – twofour54, the media & creative industries hub, and the Abu Dhabi Film Commission (part of twofour54), have launched the region’s first incentive scheme as it looks to accelerate Abu Dhabi as the first choice for international and regional producers needing location, production and post-production services. The scheme will be operational from 1st September 2012.
The incentive, in the form of a rebate of up to 30% of qualifying spend in the Emirate of Abu Dhabi, will be available for feature films, TV, documentary, advertising and music video production. The qualifying spend relates to goods and services sourced from Abu Dhabi and for relevant expenditure on location or studio filming and post-production.
It will also cover costs relating to the contracting of any UAE registered crew and services for activities in Abu Dhabi. Temporary accommodation costs in Abu Dhabi, as well as airline tickets and freight booked on Etihad Airways, will also qualify for the rebate.
With easy and direct access from all major destinations, modern efficient infrastructure, abundant world class accommodation, bi–lingual workforce and a global banking system, Abu Dhabi is ideally placed to support international and regional producers and their productions.
twofour54’s position as the hub for the creative and production industries in the region also ensures that Abu Dhabi can deliver key industry infrastructure; a great range of diverse urban locations and landscapes, one stop shop providing prompt government services for all visa/permit requirements, experienced crew and equipment hire supported by state of the art facilities. These include 10 fully-HD studios up to 1,000m², 23 post-production suites and the region’s only Baselight colour grading facility.
Already a number of recent productions have successfully shot with twofour54 including the summer blockbuster The Bourne Legacy, starring Jeremy Renner and Rachel Weisz and directed by Academy Award nominee Tony Gilroy for Universal, as well as big budget Bollywood production, Oru Maru Bhoomi Khatha, by legendary Indian director Priyadarshan, Oru Kal Oru Kandadi a Tamil film by Manickavasagom and the BBC’s Wild Arabia.
“Our new incentive scheme is unique in the MENA region and focussed on attracting international and regional productions to Abu Dhabi,” explained Wayne Borg, Deputy CEO and Chief Operating Officer of twofour54, at the Cannes Film Festival where the scheme was launched. “This initiative reflects the culmination of our efforts to put in place all the key ingredients to reinforce our position as the regional hub and first choice, go-to place for producers. This is our commitment to the Film and TV production industry. We expect to accelerate production activity and in doing so fulfil our objective to further fuel the development of the regional media industry by providing the opportunity for Arab filmmakers, crew and production support companies to work alongside their international counterparts.”
To learn more, please visit www.film.gov.ae
An Abu Dhabi Government initiative, twofour54 is the Middle East and North Africa (MENA) region’s leading media and entertainment hub. twofour54’s unique campus environment offers media and entertainment businesses the tools they need to succeed. These include 100% company ownership in a stable tax-free environment, facilitated business networking, easy licensing and business set-up services, broadcast and production facilities, and access to professional media talent and industry experts.
twofour54 delivers its advanced cohesive infrastructure through three key pillars: twofour54 tadreeb (the media training academy), twofour54 ibtikar (venture capital investment fund for Arab media and entertainment businesses) and twofour54 intaj (a state-of-the-art production complex including digital and post production facilities, broadcast and distribution facilities and the region’s only 3D stereoscopic lab). These services are supported by twofour54 tawasol, facilitating easy business set-up and providing ongoing support services.
twofour54 is home to the world’s first Cartoon Network Animation Academy, a dedicated Gaming Academy in partnership with Ubisoft and owns the leading global training provider, SAE Institute, in the UAE. The Abu Dhabi Film Festival and the Abu Dhabi Film Commission are also managed by twofour54 under a single vision to position Abu Dhabi as a creative hub for the region.
twofour54 has already attracted over 160 companies, which are now based at the Abu Dhabi campus. These include several of the region’s and world’s largest and most influential content creation companies, including Ubisoft, Sky News Arabia, Fox Intl Channels, CNN, BBC, Financial Times, C Sky Pictures, Thomson Reuters, Cartoon Network, PyraMedia, Bloomberg, Blink Studios, Charisma, VERITAS Films, Tahadi and Jawaker. Each of these partners has recognised the vast opportunity that the Arab world represents for growth, and has committed significant investment and resources to business initiatives that are led out of twofour54.
The name twofour54 is taken from Abu Dhabi’s geographical coordinates, which are latitude 24 north, longitude 54 east. This name was chosen to symbolise Abu Dhabi’s strategic position within MENA, and its central role in driving the development of the region’s growing media and entertainment industries.