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Ambani eyes Dubai Bollywood move
by Tamara Walid on Thursday, 17 July 2008
BOLLYWOOD ARRIVES: Anil Ambani is set to open production facilities for Indian movies. (Bloomberg)
Indian billionaire Anil Ambani is set to open production facilities for Indian movies in the UAE.
Ambani’s Reliance Entertainment is considering setting up a facility in Dubai Studio City, a project providing infrastructure for the broadcast, film, television and music production industries.
“We are looking at it seriously,” Amit Khanna, chairman of Reliance Entertainment, told Arabian Business.
He added: “We see a huge potential in the Gulf and UAE markets, and are exploring various opportunities there. It is a booming economy and makes sense for anyone interested in entertainment to look at the Middle East market and specifically, the emirates.”
The move highlights the increasing interest from Indian film companies, producers and celebrities in Dubai.
In addition to Bollywood’s top stars purchasing property in the emirate, a growing number of television and production companies and film makers are getting involved in entertainment projects, such as Yash Raj Entertainment District.
Anil Ambani is currently in talks with Steven Spielberg and the founders of DreamWorks studio about financing their new film venture, in a move that will see DreamWorks end its three-year association with Paramount Pictures, the Viacom-owned Hollywood studio.
