DUBAI, United Arab Emirates, Feb. 8 /Xinhua-PRNewswire/ --
- Venture Adds Further Value to Dubai's Tourism Offerings
Tatweer, a member of Dubai Holding, today announced it has formed a strategic alliance with US-based DreamWorks Animation SKG, Inc. (NYSE: DWA) to develop a diverse portfolio of tourism and leisure projects in Dubailand(TM), the world's most ambitious tourism, leisure and entertainment destination.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080207/292451 )
A highlight of the alliance will be the creation of the world's first DreamWorks Animation branded theme park in Dubai. The outlay at the 5 million sq feet theme park project is a multi-billion AED investment.
The venture will bring to life the much-loved characters from DreamWorks Animation films, including Shrek, the upcoming Kung Fu Panda and several others, to create adventures and attractions in a first of its kind development for the studio.
Tatweer and DreamWorks Animation will also work together to develop new concepts, including DreamWorks Animation themed restaurants, hotels and retail outlets in the region, providing unique experiences through the use of innovative media and creative storytelling.
Saeed Al Muntafiq, Executive Chairman of Tatweer, said: "We are extremely proud of our alliance with DreamWorks Animation. The partnership demonstrates our dedication to deliver on the tourism objectives of Dubai Strategic Plan 2015, announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
"As the owner and developer of the three-billion sq ft Dubailand(TM), which hosts some of the world's most enchanting entertainment concepts, Tatweer has become a leader in bringing landmark projects to Dubai, including Bawadi, Tiger Woods Dubai and the world's best theme parks. DreamWorks Animation's global reputation in character creation and its strong character portfolio will add further value to our offering, providing an enhanced experience to visitors and tourists."
Jeffrey Katzenberg, CEO of DreamWorks Animation, said: "We are thrilled to bring the first DreamWorks Animation dedicated theme park to Dubai through our alliance with Tatweer for Dubailand(TM). This relationship will allow us to create an exciting destination where families and tourists will enjoy the unique opportunity to interact with DreamWorks branded content within Dubailand(TM)."
Roger Enrico, Chairman of DreamWorks Animation, adds: "We are excited over the opportunity to align DreamWorks Animation with a company like Tatweer, which has a proven reputation as a leader in the growing tourism, leisure and entertainment industry throughout this region. The complementary strengths of both organizations will further contribute to Dubai's emergence as a premier global tourist destination."
Tatweer's strategic partnerships for unique entertainment concepts with world leading entertainment brands such as DreamWorks Animation will help Dubai meet its tourism objectives of attracting an average of 15 million tourists annually to Dubai.
Dubailand spreads over an area of 3 billion sq ft, and includes Universal Studios Dubailand, Dubai Sports City, Motor City, Falcon City, Dubai Heritage Vision, and Al Barari which are projects that are under advanced stages of development in Dubailand(TM). The Polo and Equestrian Club and City of Arabia are currently in the initial stages of infrastructure work.
About DreamWorks Animation SKG
DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fifteen animated feature films, including Antz, Shrek, Shrek 2, Shark Tale, Over the Hedge, Shrek the Third and Bee Movie.
About Dubailand
Dubailand, a member of Tatweer, is the world's most ambitious tourism, leisure and entertainment project, catering to the needs of the entire family. The unique 3 billion sq. ft. development has been designed to catalyze the position of Dubai as an international hub of family tourism, appealing to tourist segments across genders, age group, world regions and activity preferences. Dubailand is projected to attract millions of tourists annually from around the world.
The diverse projects under Dubailand include theme parks, eco-tourism projects, shopping malls, restaurants and residential units that are being developed by UAE, GCC and international investors.
A product of extraordinary vision, Dubailand will be an attractive place to 'live, work and play' for the emirate's growing population, both as a leisure destination and an appropriate setting for business and entertainment development.
About Tatweer:
Launched in December 2005, Tatweer is one the region's most dynamic enterprises and a member of Dubai Holding. Comprising 10 market-leading brands, it oversees an ambitious business development plan. Its current portfolio is divided into Energy & Healthcare, Tourism & Entertainment, and Industry & Real Estate offerings. Its entities include Dubai Healthcare City, the region's hub for world-class quality healthcare services; Mizin, one of the most advanced real estate companies in the region; Universal City Dubailand, the 22 million sq ft development, featuring Universal Studios Dubailand as its centerpiece; "The Tiger Woods - Dubai", an exclusive golf community that will include the first Tiger Woods designed golf course; Dubailand, one of the biggest leisure, entertainment and tourism destinations in the Middle East; Dubai Industrial City, an industrial township to develop Dubai as a leading manufacturing hub; Bawadi, the world's leading hospitality and entertainment project hosting 51 luxury hotels and more than 60,000 hotel rooms; Dubai Energy, investing in regional and global energy opportunities and building a diversified investment portfolio; Dubai Mercantile Exchange, the first energy futures exchange in the Middle East set up in partnership with the New York Mercantile Exchange and Global Village, a premier family destination for culture, entertainment, cuisine and commerce.
Tatweer's entities continue to consolidate a group of life-improving industries in addition to pioneering joint venture initiatives with leading global conglomerates. They continuously strive for world-class performance, while implementing leadership development to drive and sustain business excellence, quality and high performance.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
