Movies and television shows shot in Abu Dhabi will soon qualify for subsidies, thanks to a new incentive scheme being introduced by twofour54and the Abu Dhabi Film Commission (ADFC). Productions made in the emirate will qualify for a rebate of up to 30%. "We want to properly encourage studios to see Abu Dhabi and the UAE as the go-to place," said Noura Al Kaabi, chief executive of twofour54.

Hollywood-based visual effects studio Digital Domain is set to establish a regional office in Abu Dhabi's twofour54 media zone. The media zone will host a new animation, visual effects and motion capture studio, as well as a Digital Domain Institute media school. Work on the 14,000 square metre entertainment production complex will begin in 2013 and is expected to be operational by the end of 2015. The project is set to employ around 500 people.

twofour54 is set to add 30 companies to its Abu Dhabi-based media zone this year, and is pursuing further investments as part of its goal to improve the Arabic content industry. "We have more than 30 in the pipeline this year," said Noura Al Kaabi, the new chief executive of twofour54. "They range from broadcasters to PR, production and digital start-ups" she added. Currently, there are about 160 companies based at twofour54, including CNN, the Financial Times, and Sky News Arabia, which begins broadcasting on Sunday.

According to the company’s new CEO, Twofour54 plans to be profitable by 2016. “We can’t ignore the fact that we want media to be a commercially sustainable business,” said Noura Al Kaabi, the incoming CEO who will replace Tony Orsten next month. “We will reach a point where we will be able to fund ourselves. If we continue doing what we are doing, with the same plans, 2016 is a year when we can start giving back.”