Prominent media institutions move to Saudi Arabia’s New Media City in Riyadh
Two years ago, the Saudi Minister of Culture and Chairman of the Board of Directors of the Media City Project, Prince Badr bin Abdullah bin Farhan, signed 3 agreements and memoranda of understanding with the Chinese Alibaba Group, MBC Group, Al Arabiya Network, Al Hadath TV, and the Saudi Research and Marketing Group to establish new headquarters for them.
Here and through this report , You will be able to get more information on The “Media City” project, which is located in the Diplomatic Quarter (west of the capital, Riyadh), includes sectors in culture, media, and technology. It directly affects the future creative industry, such as publishing, podcasts, films, social media, digital advertising, digital education, augmented reality and development Content, photography, design, fashion, newspapers, magazines, radio, and television stations, among others.
The project provides various services to cover the needs of the culture, media, and technology sectors, such as studios, culture-enablement services, offices, residential and commercial areas, hospitality, and business incubators.
The project targets media networks in the region, major e-commerce platforms, satellite technologies, specialized international and regional bodies, promising productive projects, and national bodies specialized in the culture, media, technology, innovation, and knowledge sector.
It allows developing and enhancing growth opportunities for promising small and medium companies. It is expected to contribute to the domestic product, create direct and indirect jobs, and accommodate more than 1,000 facilities.
In the first package of agreements, the investment fund of Ali Cloud, a subsidiary of the Chinese Alibaba Group, signed a memorandum of understanding with the “Media City” project, to establish a regional headquarters in it.
MBC Media Group, Al Arabiya and Al Hadath TV Network, and the Saudi Research and Marketing Group (SRMG) signed agreements with the Media City project to establish new headquarters within the scope of the project.
Prince Badr bin Abdullah bin Farhan affirmed that the project comes within a series of large projects sponsored by the leadership to take advantage of the Saudi capabilities, noting that the project cannot be limited to a specific sector, but “we went to unlimited spaces in all sectors of the future and knowledge technology, media and culture.
He said that the project will be a stimulating destination and that its goal is to be among the best creative cities in the world, and “we have the capabilities, and the desire to move forward towards our goals set with the support and guidance of the Custodian of the Two Holy Mosques and the Crown Prince.”
He pointed out that Saudi citizens are among the largest consumers of digital media platforms; YouTube records very high views, Saudi Arabia is one of the largest global markets for Snap chat, and Saudis alone constitute more than 40 percent of Twitter users in the Middle East and North Africa, at a time when the growth of the information and communication technology market is escalating, He stressed that the project encourages all ambitious, serious and creative projects.
Al-Arabiya and Al-Hadath TV network
Prince Badr bin Abdullah and Abdul Rahman Al-Rashed, editor-in-chief of the Al-Arabiya and Al-Hadath TV network, signed a memorandum of understanding to establish a new center for the Al-Arabiya and Al-Hadath network in the Media City on several stages to expand its regional activities.
Abdul Rahman Al-Rashed said that the project of the new center for the “Al-Arabiya and Al-Hadath” network will be equipped with the latest equipment and media tools, and the latest technologies in the field of news, television, and digital industry.
The planned expansion of the “Al Arabiya and Al Hadath” network reflects the largest in the field of information and news and will include a training institute, a center for studies, and new news services, which will reflect positively on the network’s activities in Dubai and around the world.
Saudi Research and Marketing Group
In the presence of Prince Badr bin Abdullah, Dr. Fahd bin Mushait, CEO of the “Media City” project, and Saleh Al Duwais, CEO in charge of the “Saudi Research and Marketing Group”, signed an agreement to establish a headquarters for the group in the “Media City” project in Riyadh.
Eng. Abdul Rahman Al-Ruwaita, Chairman of the Board of Directors of the Saudi Research and Marketing Group (SRMG), described the announcement of the project as a “strategic and important step in the Arab media,” considering that the presence of the “Saudi Group” gives a great opportunity to enhance the media group’s message and participate in Keeping abreast of successive developments in the media, culture and technology sector.
Al-Ruwaita said that the existence of this project is commensurate with Saudi Arabia’s political and economic standing and size in the world, adding that “the existence of this project will contribute to the development of the media environment at all levels.”
Prince Badr bin Abdullah, along with Walid Al Ibrahim, Chairman of the Board of Directors of the “MBC Group”, signed an agreement to establish a new headquarters for the group, within the “Media City” that incubates the sectors of culture, technology, and media. It aims to do more business within the next five years.
Al Ibrahim said: “By establishing its new headquarters in Riyadh, the group seeks to keep abreast of developments in the Kingdom, and to benefit from the incubator environment that is open, developed, and supportive of the media and entertainment sectors, and with them the content industry.”
Al Ibrahim added: “We are working to strengthen and continue our leadership in this vital sector, throughout the entire region, especially in light of the developments that have resulted and are constantly resulting from reforms and development steps, since the announcement of (Vision 2030).”
Prince Badr bin Abdullah bin Farhan Al Saud, Chairman of the Board of Directors of the “Media City Project”, and Jerry Lee, Managing Director of the Arabia Investment Fund with Ali Cloud, a subsidiary of the Alibaba Group, also signed a memorandum of understanding to establish.
Jerry Lee, managing director of the investment fund, said: “We are looking forward to opening a new headquarters for the fund and (Ali Cloud) company, which is affiliated with the (Ali Baba) group in Riyadh, which is the beginning of our start in attracting Chinese companies to this promising city.”