Dubai-headquartered Concept Group, a full service marketing and media group, is to invest US $2.5 million in a 60,000 square feet production unit at the emirate’s International Media Production Zone (iMPZ).
The facility, for which building tenders will be issued shortly, will be the headquarters of Concept Group’s new Formula 3sixty subsidiary, and is expected to be operational within a year. Concept Group has signed a 30-year lease for the iMPZ plot where it will build the facility.
“This investment is a visible vote of confidence in the future of the GCC’s graphics, signage and exhibition industries which were key drivers behind the creation of Formula 3sixty,
“We are also actively investigating the possibility of establishing an offset or web printing press at the facility,” said Aldrin Fernandes, CEO, Concept Group.
Formula 3sixty has been set up to expand the boundaries of signage throughout the UAE by specialising in the creation of large format graphics, displays and signs that get noticed.
“Once the facility is established we will substantially increase our scope of work in order to provide every aspect of signage and advertising from start to finish. We will offer a consultancy service for all sign, design and turnkey projects all the way through to manufacture.
“The company will also meet the current requirements of other group subsidiaries which have heavy demand, accounting for as much as 50% of our business, for large format and sophisticated printing,” added Fernandes.
iMPZ, part of Dubai Holding, spreads over 43 million square feet along Emirates Road and seeks to create a large cluster of media production companies.
“Concept Group is an excellent addition to the rapidly expanding iMPZ client portfolio,” said Hamad Al-Huraiz, Executive Director, iMPZ. “As a part of the iMPZ free zone development, Concept Group is seizing the initiative to use our incentives to drive its business forward.”
