Aldar Properties is selected to build twofour54’s new home on the southern part of Yas Island. The project is part of Dh12 billion worth development which will be developed by Miraj Asset Management.
In this public-private partnership, twofour54 enables Aldar Properties’ expertise and equity to develop strategic projects and attract foreign direct investment to the emirates. The first phase of the new free zone is based on the build-operate-transfer (BOT) model with an approximate cost of Dh1 billion, confirmed by twofour54.
With more than 10,000 media professionals, the new free zone will be developed over 95,000 sq. m. of floor area which is most likely to be extended to 300,000 sq. m. It is operated under the ownership of a Dubai-based government body, Media Zone Authority. The plan is to incorporate offices, TV studios and retail outlets.
Twofour54 houses more 450 media and entertainment companies such as Sky News Arabia, Image Nation, Ubisoft, CNN, Fox, Flash Entertainment, M&C Saatchi and Flat6labs.