Dubai firm floors Florida |
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Dubai-based Capital Plus Holding Company is planning to build a media complex in Florida that could rival studios in Hollywood.
It is also looking at setting up a global real estate investment institute in the same American state to trade properties and shares worldwide.
Sketches of the studio complex show Hollywood East will have sound stages, back lots and even a space for filmmaking students at the Florida location, according to Local 6 News reportage in Miami.
The company is scouting for 800 acres of real estate and plans to make a decision in the next three months.
Although the exact location has not been finalised, Orlando, Miami and Tampa/St Petersburg are the likely options.
According to the local media, several Florida politicians have met Dr Mohamed Saleh, Chairman of Capital Plus Holding Company, during his visit to Florida.
"These individuals have a great interest in Florida and they are from Dubai," Florida Governor Charlie Crist was quoted as saying.
Florida State Representative Kevin Ambler of Hillsbo rough County also met the visiting representatives and said: "Florida is trying to be the next great Hollywood of the country" and the potential partnership could make it happen. The projects that we are talking about could create upwards of 8,000 jobs and infuse billions of dollars into our economy," he added.
The company is also looking into creating a global real estate investment institute in Florida that would trade properties and shares worldwide.
Ambler described the institute as "an educational institute for people about real estate development and investing, including the first-ever international exchange for real estate investments," an exchange such as the Nasdaq, which would trade in real estate investment trusts and other investments, The Tampa Tribune reported. "We are trying to develop our film and entertainment business, trying to build the next great Hollywood of the country," Ambler said.
Capital Plus specialises in a range of projects, with offices in London, Beirut, Riyadh, and Manama. Some of the projects include the new Media Hotel, a $272 million (Dh998.24m), four-star hotel in Dubai's Studio City. Capital Plus also owns its own media production firms such as Aqariya TV news channel.
By Parag Deulgaonkar
© Emirates Today 2007
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