Abu Dhabi Starts $1 Billion `Imagenation' Film Unit (Update3)
Bloomberg - USA
Abu Dhabi, after investing billions of dollars of oil wealth in Citigroup Inc. and Ferrari SpA, now plans to spend $1 billion over five years to finance Hollywood and international films. ...Abu Dhabi's investments in media and culture are helping it to diversify away from oil and gas. The sheikhdom, one of seven that make up the United Arab Emirates, is spending $40 billion to develop Yas Island, which will host the world's first Ferrari theme park, and a cultural district on Saadiyat Island that will include the Louvre Abu Dhabi and a new Guggenheim Museum, designed by Frank Gehry. ...
Bloomberg - USA
Abu Dhabi, after investing billions of dollars of oil wealth in Citigroup Inc. and Ferrari SpA, now plans to spend $1 billion over five years to finance Hollywood and international films. ...Abu Dhabi's investments in media and culture are helping it to diversify away from oil and gas. The sheikhdom, one of seven that make up the United Arab Emirates, is spending $40 billion to develop Yas Island, which will host the world's first Ferrari theme park, and a cultural district on Saadiyat Island that will include the Louvre Abu Dhabi and a new Guggenheim Museum, designed by Frank Gehry. ...
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