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Capital boom, Part I
While the rest of the world worries about sustenance, Abu Dhabi has big plans for expansion. Where do we begin? Part I of a series.
November 12, 2008 3:25 by kippreport
Imagenation. It’s not a spelling mistake, actually it’s a rather awkward but evocative name given to a film media company launched in Abu Dhabi in September. Mandated to develop, finance and produce content for global and Arabic-language markets, the new company announced a whopping fund, in excess of $1 billion, to be spent on full-length feature films and digital content.
Despite its scale, however, the company’s launch was probably one of the UAE’s most low-key in recent months. Apparently Abu Dhabi is getting more accustomed to doing things in a less hyped and more measured way, without undermining the city’s grand ambitions.
The Imagenation episode embodies what Abu Dhabi stands for at the moment, a quiet beginning followed by a flurry of activity. Within a week of its Sept. 3 launch, Imagenation, the wholly owned subsidiary of Abu Dhabi Media Company, partnered with independent content provider, Participant Media, to form a $250 million fund to finance a slate of feature films.