Dubai Holding takes a stake in Emaar Properties

Emaar Properties and Dubai Holding have announced an agreement in which Emaar will issue 2.364 billion new shares to Dubai Holding in lieu of land and will work towards a strategic partnership to drive further growth in Dubai and international markets.

Emaar Properties will convene an Extraordinary General Meeting for shareholders’ approval on the increase of the company’s capital with the issuance of new shares to Dubai Holding.

Dubai Studio City: Emirates Film Competition Boosts Local Industry Development

Dubai Studio City, member of TECOM Investments, has hailed the Emirates Film Competition as an important initiative that strongly supports the development of the local film industry by promoting creative talent.

The statement was made at a networking lunch hosted by DSC on the sidelines of the 6th edition of Emirates Film Competition being held in Abu Dhabi from 7-13 March, 2007.

IMPZ Invests AED 62 Million in Power Substation

The International Media Production Zone (IMPZ), a member of TECOM Investments, has invested AED 62 million to set up a dedicated power substation to provide electricity to all developments within the free zone.

Dedicated to the graphic art, printing, publishing and packaging industries, the free zone has received three 50-MVA power transformers to step down the 132,000 volts, arriving through underground lines from Dubai Electricity and Water Authority's Jebel Ali power station, to the usable distribution voltage level of 11,000 volts on site.

DEWA has scheduled to lay the final 450 m length of 132kV cable from the Emirates Road to the substation located in the heart of IMPZ by mid April 2007. This will allow the commencement of testing and commissioning procedures prior to handing over the substation to DEWA for further use by business partners within IMPZ.