The United Arab Emirates officially launched a regional media center Sunday in Abu Dhabi that is intended to develop talent in journalism, publishing, film and video as well as content geared to Middle East audiences.

The new center, called "twofour54", is the latest step in the UAE's efforts to develop a more diversified economy and become a  center of  financing, tourism and culture in the region. The emirates, which include Dubai and Abu Dhabi, are the world's fifth largest oil exporter. But in recent years they have focused on facilities like the World Trade Center (photo) and on media.

"This is an unprecedented step that will see home-grown content available to the rest of the world," Khaldoun al-Mubarak, chairman of the Abu Dhabi Media Zone, said at the launch of new media center. The event was attended by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahayan as well as editors and executives of global media companies that have signed up to be participants in the new center.

Foreign companies committed to the media xenter include the Reuter Thomson Foundation, CNN, BBC, the Financial Times, Random House and  C Sky Pictures, a Kuwait film studio. The zone becomes operational in 2009.

One of the aims of the media center is to encourage the training of talent to better serve a 300-million strong Middle East market, one that lacks content geared to a population the size of Europe, but with 60 percent under 25 years old.

Wayne Borg, the chief operating officer of the media zone, told Red Herring that Abu Dhabi had chosen to focus on cultural development as an important part of its strategy. "If you look at any city around the world of cultural worth, there is a very dynamic content industry. Our role is about building a truly Arabic content industry."

The partner companies in the zone will have a dual role of creating content and training Middle East talent. "The talent pool is there,"said Mr. Borg. "The potential is enormous." The zone will have production and post-production facilities, editing suites and sound stages. The zone will also finance new media startups.

Publishers will focus on developing both print and online content for the region. Earlier this year, The National, an English language newspaper, was launched in Abu Dhabi.  "It's probably the first major newspaper launched successfully anywhere in the world this year,"said Mr. Borg.
The zone will be fully backed by the government of Abu Dhabi and will eventually provide 30,000 square meters (325,000 square feet) of space, said Mr. Borg.