Reuters moves to Dubai
Reauters news agency have chosen to move their Middle East headquarters to Dubai Media City.
Reuters has moved its Gulf headquarters to the Dubai Media City in an effort to expand its operations in the region. The international news agency, which currently has 70 staff based at its present location in Deira, will make the switch to the Media Free Zone by the end of April.
"The decision to move our operations to Dubai Media City was a strategic one," said Michael Kuli, managing director, Reuters Middle East.
The new Media City head office will control Reuters operations in Abu Dhabi, Riyadh, Jeddah, Al Khobar, Kuwait, Manama, Doha and Muscat as well as news bureaux in Bahrain, the UAE, Kuwait and Iran.
Kuli would not reveal the cost of moving Reuters operations to the Media City, saying only that it was a "multi-million Dirhams investment."
Reuters' long term plans focus on seizing opportunities for development as they arise, including creating a unit for television journalism as Dubai becomes more eventful.
For the time being, Reuters is focusing on the Internet, WAP and related information technology ventures.
"Our global services deliver financial data to tens of millions of clients around the world," said Kuli. "And in view of the fact that Internet users are increasing by the day, this is the right kind of environment to be in, as the zone is attracting many IT companies. We will be able to serve our clients, who will be our neighbours, much better."
The company has taken virtually an entire floor in the building, an area of 18,000 square feet, making it one of the largest organisations in terms of space and resources.
This latest announcement by Reuters means that the three buildings which make up phase one of the Media City project now have 100 percent occupancy, housing a total of 900 media professionals.
"The business operations of Reuters epitomise the ideals of Dubai Media City in its visionary drive for paving the way towards an information based economy," said Mohammed Al Gergawi, director-general of the Dubai Technology, E-Commerce and Media Free Zone.