Saudi Minister of Culture Prince Badr bin Abdullah signed on Tuesday three agreements to set up Media City project.
The deals cover cultural, media and technical aspects of the city, which will serve as a unique global destination.
The project is located in the embassies neighborhood in the Saudi capital, Riyadh. It includes cultural, media and technical departments that play a direct role in shaping the innovative industry. This also includes publishing, podcasts, film, social media, digital ads and education, virtual reality, photography, design, newspapers, magazines, radio and television.
The project offers diverse services to meet the demands of the cultural, media and technical sectors. This includes studios, offices and residential and business zones. The project offers an opportunity to develop and boost the growth of promising SMEs and offers direct and indirect jobs.
Prince Badr and editor-in-chief of the Al Arabiya and Al Hadath television network Abdulrahman al-Rashed signed the first agreement.
It also aimed to set up a new headquarters for the network within the new city. This will expand its regional operations.
Al-Rashed said Al Arabiya and Al Hadath's new centers will have the most modern media equipment and latest technology in news, television and digital production.
It will also boast a training center and another for news research and services. This will also positively impact the network's operation in Dubai and the world.
The executive director of the Media City, Dr. Fahd bin Msheit, and CEO of SRMG, Saleh al-Dowais signed the second agreement. It also aims at setting up a main headquarters for the Group at the Media City in Riyadh.
SRMG Chairman, Abdulrahman Rwaita also described the announcement of the project as an "important strategic step in Arab media".
He said that the project matches the Kingdom's global political and economic standing. It will also help "develop the media environment on all levels."
Prince Badr and Chairman of the MBC Group Waleed bin Ibrahim Al Ibrahim signed the third agreement. It also aims to set up a new headquarters for the group in Riyadh within the Media City.
Ibrahim said that by setting up its new headquarters in Riyadh, MBC Group seeks to keep abreast developments in Saudi Arabia and benefit from the open and modern environment that embraces media and entertainment.
"We are working on strengthening our pioneering role in this vital sector and throughout the entire region, especially amid the massive developments that have taken place in wake of the constant reforms and modernization steps the Kingdom has been taken since its announcement of its Vision 2030," he added.
Prince Badr said the Media City project is part of a series of major projects sponsored by the Kingdom's leadership.
Prince Badr, who also heads the project, said the city to be one of the most innovative in the world.
"The Kingdom has means and will to forge ahead in achieving our goals backed by King Salman and the Crown Prince," he added.
