By Andy Sambidge
US firm announces agreement for October magazine, website launch.
US magazine Forbes has announced the signing of an agreement to launch Forbes Middle East in partnership with Arab Publisher House.
The magazine, Forbes' latest international edition, will be based in Dubai, the company said in a statement.
The launch will be held in Dubai, with the first issue slated to be published in October. Forbes Middle East will have an initial circulation of 25,000, rising to 30,000 within six months.
Miguel Forbes, president of Business Development for Forbes, said: "We are thrilled to partner with Arab Publisher House to bring Forbes to the Middle East. We believe that Forbes Middle East exhibits a strong multilingual and multiplatform strategy that mirrors the standards of the Forbes brand."
Dr Nasser Al Tayyar, president of Arab Publisher House, added: "Forbes Middle East will be printed in Arabic starting in October, and also in English beginning in 2011. We will also have a strong online presence."
Arab Publisher House is a newly formed joint venture of influential Saudi Arabian investors with its head office in Dubai Media City.
It plans to bring to the region a number of other publications, including ForbesWoman, ForbesLife and other magazines.
Forbes' previous edition in the region - Forbes Arabia - stopped when its publisher, Dubai’s DIT Group, closed down all its operations at the end of April 2009.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.