Imagenation Abu Dhabi, a wholly-owned subsidiary of Abu Dhabi Media Company, is partnering with Hollywood-based Hyde Park Entertainment in a $250 million financing deal to develop, produce and distribute feature films.

The agreement aims to create up to 20 films over seven years and will include additional financing for the production of local language and cross-cultural films.

Hyde Park Entertainment will also establish its regional headquarters at Two Four 54, the recently unveiled free media zone in Abu Dhabi.

'We intend to produce wonderful films that stretch from Hollywood to Asia, enabling us to foster a better understanding between the West, the Middle East and Asia.  What better way to accomplish this than through global cinema and the exchange of talent and great stories,' stated Ashok Amritraj, chairman and CEO of Hyde Park Entertainment.

“Abu Dhabi’s investment with international media partners is putting the emirate in the global spotlight at a critical time for the movie industry,' stated Mohamed Khalaf Al-Mazrouei, chairman of Imagenation Abu Dhabi.

“Hyde Park Entertainment brings us not only creative and commercial prowess but also distribution strength, so we’re pleased with this latest partnership that will focus on both western and Asian themes,' added Edward Borgerding, CEO of Imagenation Abu Dhabi.

'We are also delighted that Hyde Park Entertainment will set up a local office here in Abu Dhabi, which will reinforce the region's credentials as an emerging centre for content creation and professional development.'-TradeArabia News Service