Media City tightens registration

Paid-up capital for a small publishing outfit has been raised four-fold from the earlier US $13,613 to US $55,000, effective from last month.

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By  Vijaya Cherian Published  April 12, 2005

Dubai Media City has tightened the rules for new publishing companies applying for registration, according to officials. Paid-up capital for a small publishing outfit has been raised four-fold from the earlier US $13,613 to US $55,000, effective from last month. This is part of a stringent procedure introduced recently. "This is not to make things difficult for new applicants, but to get the right publishers in," said Mohammad Al Mulla, director of sales for Dubai Media City. "In the long run, we want them to be successful and continue to prosper at the Dubai Media City (DMC). But we are looking at bringing in quality professionals and credible media house to base their operations at DMC." He said 960 companies have been licensed by DMC, spread in eight types of media activities. "These include 120 publishing companies, running 350 titles. Activities of about 48% of the companies are related to marketing." DMC has invested US $12 million in expanding its infrastructure to include a new car park and expanded roads inside the facility.

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