- The projectâ€™s valuation to reach USD 3.8 billion in five years
- One of the projectâ€™s main objectives is to provide productive families and small business owners better reach of their products and services to their targeted market segments
- The projectâ€™s capital expenditure is USD 15 million; with a noticable investment appetite from venture capitalists in the region
Â Some details of a massive new media and entertainment project were revealed at a recent press conference in Dubai. Renowned media figure Mr. Ali Alalyani in his capacity as a representative of the projectâ€™s founders, and Mr. Hamid Ahmed Dakhil, CEO, announced that over 70 regional celebrities have signed to participate in a unique media and entertainment venture.
The event that took place in the presence of Mr. Nabeel AlMoalimi; the projectâ€™s founder, and his co-founders, was also an occasion to sign a memorandum of understanding with Headline Communication Media Corporation, represented by Mr. Feras Adel Al Maddah, CEO. The MoU aims to promote mutual cooperation between the project and the prestigious marketing and communication agency.
Mr. Alalyani described the signing as “an important step towards completing the services that the project aims to provide; and a further assurance towards adding value to our services with high quality and professionality”.
â€śThere will be further distinguished partnerships with celebrities and strategic partners in the upcoming period,â€ť said Mr. Hamid Dakhil. â€śThe project is regarded as a unique investment project that would yield quite high returns in its wholestic sense; and we plan to serve it in a manner that suits its goalsâ€ť Mr. Dakhil added.
Commenting on the announcement of full details about the project, which was surroundedÂ by almost totalÂ secrecy; and on which there were most recently brief reports in the media , Mr. Hamid explained: â€śWe have already managed to agree with and sign up more than 70 first class Arab celebrities, in addition to social media influencers of different categories and specialties (singers, presenters, actors, athletes, cooks, comedians, financial specialists, and vlogers, etcâ€¦), to take part in this unique project. The number of celebrity participants is expected to exceed 200 by the end of 2017â€ť.
Regarding the projectâ€™s commercial and investment size, Mr. Majid El Amri, Head of Investment Committee, indicated that â€śthe project has been designed in phases that transcend the Arab Worldâ€™s regional boundaries towards more international borders via organic growthâ€ť. To this end, he said; “we have assigned KMPG to act as a strategic and financial advisor, although this leading global company does not accept partnerships with startups, the submitted business model was highly acclaimed”.
Adding further, Mr. El Amri said: â€śThe projectâ€™s conservative valuation is expected to reach USD 3.8 billion in five years covering MENA onlyâ€ť.
Commenting on the size of investment in the project, Mr. El Amri said: â€śCapital expenditure and pre-operating expenses amounted to approximately USD 15 million, excluding operational expensesâ€ť.
As for investment opportunities in the project, he said: â€śTaking into account the strong demand received so far from venture capitalists and some elite individual and corporate investors, it has been decided to open an exclusive opportunity ofÂ about 10 percent of the projectâ€™s current valuation to a carefully selected elite group of investors, with added value, wishing to participate in the project and achieve its shared goals. We shall convene with interested parties soon, in Saudi Arabia, the United Arab Emirates, Kuwait and Bahrain”.
Mr. Feras Al Maddah, expressed his delight to take part in this valuable and unique project. “This project will bring an added value for all segments of the society, including stars, fans, and Small, Medium and Large enterprizes,” he said.Â He praised the unprecedented business model that is uniquely positioned to provide social exposure to important sectors, such as health and economy. Mr. Al Maddah elaborated: â€śThe project took into consideration opening great opportunities through the empowerment of productive families and very small startups, whom are struggling presently to provide their products and services to their targeted segments via conventional mediums”.
In this regard, Mr. Alalyani said: “We recognize the magnitude of challenges that are facing these significant sectors of the society. This prompted us to find an innovative approach that will have a positive impact on the economy and falls in-line with the countriesâ€™ vision to support these vital segments of the economy.”
*Source: AETOS Wire.