Dubai-UAE: Dubai Internet City (DIC), the Middle East’s leading technology business community, will be home to the regional headquarter for the Middle East and North Africa (MENA) of Tencent Games, the world’s leading games platform.
Tencent Games was launched in 2003, and has since grown into a leading global platform for game development, publishing and operation. It is dedicated to offering a high-quality interactive entertainment experience for all players. The company behind this platform, Tencent, is a global conglomerate focused on internet-based technologies and is known for its various internet-related services and products in addition to interactive entertainment, including its industrial internet capabilities such as payment, artificial intelligence technology and smart industries initiatives including digital museums and cultural experiences. Tencent employs 55,000 professionals worldwide.
The opening of Tencent Games’ regional headquarter is an indication of increased activities in the local and regional games industry which covers digital entertainment, education and cultural experiences. According to market research firm Newzoo, the revenue of the UAE games sector is estimated at AED 1.2 billion (USD 324 million) in 2019. Furthermore, over 80 per cent of smartphone users in the UAE play mobile games.
Upon signing the MoU, Ammar Al Malik, Managing Director of Dubai Internet City (DIC) and Dubai Outsource City (DOC) said: “The launch of Tencent Games’ regional operations at DIC is an indication of their confidence in Dubai’s innovation-driven economy. DIC is already home to several multinational Chinese firms, and Tencent’s move to the region will further drive the growth of this sector. I am confident that we will continue to attract top innovators, entrepreneurs and international companies to Dubai.”
“Gaming moves beyond entertainment and is increasingly used to engage and educate, and as more gamers and creative enthusiasts enter the industry, we can certainly expect the market to develop rapidly in the coming years. This will also be a crucial driving force in attracting game and interactive content developers to the region.” Al Malik added
According to a report by Statista released in late 2018, the UAE has the highest mobile penetration rate in the world at 173 per cent – nearly double the country’s population. This is a considerable figure and represents a wealth of opportunities for game developers across the world, with revenues from mobile games representing more than half the income generated in the entire industry, while a rising number of people turn to mobile games for its interactivity and ease of access.
Vincent Wang, General Manager of the Global Publishing Department at Tencent Games, said: “The UAE’s high mobile and internet penetration is an extremely encouraging indicator for tech firms across the world, and is especially relevant to the global games industry. Through our partnership with DIC and by setting up our regional operations in Dubai – which is already home to some of the world’s most cutting-edge companies and highly skilled talents – we look forward to creating a platform that invests in and improves the regional games market, while encouraging local games enthusiasts and developers to push the boundaries of creativity and innovation.”
Chinese investment within the UAE’s evolving tech industry is expected to increase rapidly, especially considering plans announced by the two countries to expand economic collaboration during the Second Belt and Road Conference for International Cooperation in Beijing earlier this year, with trade set to hit US$70 billion by 2020.
About Dubai Internet City
Dubai Internet City (DIC), a member of TECOM Group, is a unique ICT hub. As the only specialised technology business community in the region, it is a place where innovators and entrepreneurs from all over the world work, connect and share their vision for a bold new tomorrow.
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.