Al Aqariya TV moves to Dubai Studio City, announces expansion plans
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by Habib Battah
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 Real estate network Al Aqariya TV says it is spending $136 million on a new headquarters in Dubai Studio City (DSC),
a 29,000 square foot facility slated for completion by 2008.Al Aqariya President Mohammad Saleh says the project will help spur plans for international expansion and encompass 13 subsidiary companies. In addition to two television channels, the group’s holdings include a real estate news agency, weekly newspaper, eight magazines, various online services and plans for a third television channel, educational institute and hotel.“By establishing the new headquarters in Dubai Studio City, Al Aqariya aims at establishing better communication among the subsidiary companies, and then move on to expand revenue streams into the group. Then, we plan to expand in Europe, the United States, and the franchises in UK, Russia, North America and Asia,” said Dr. Naser Refaat, CEO of Al Aqariya and General Manager of Al Aqariya channel 2. “We want to be the main reference to the whole world in the real estate industry,” he told MEB Journal.
The first phase of the project is expected to see the construction of an eight-story building housing four TV studios fitted with HD equipment and digital archiving.
Subsequent phases are expected to see the establishment of the Al Aqariya Hotel and Al Aqariya World, a meeting point for international real estate firms and property investors.
Established in 2004, the group’s first real estate channel, Al Aqariya 1 was set up with an initial investment of some $16 million and it is expected to break even by the end of the year, according to Refaat.
Al Aqariya 2, which will be renamed Boursa in August, is being pitched as a sort of classifieds channel that provides viewers with an interactive financial and commercial forum. The group says its third channel, Al Aqariya International, will broadcast in English, Russian and Persian and be launched in September. “Expats in those countries are very interested in real estate,” Refaat said.
Al Aqariya Channel currently broadcasts on Nilesat, Arabsat, and Hotbird, reaching reportedly more than 150 million homes. Refaat said major competitors are Al Arabiya and CNBC Arabia. He said viewership is expected to increase by 20 percent by the end of 2006 as a result of a number of ambitious investments in the real estate sector.
Al Aqariya is currently offering a “Property-On-Demand” service to its European viewers, where buyers can view videos of properties according to budget and location and communicate interests via mobile. Refaat said the “Property-On-Demand’ feature would be expanded to UAE subscribers in August.
He said Al Aqariya would begin a recruitment drive next year to increase staff from 160 to 800.
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