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The global economic crisis looks to be having an impact on the relocation of printers to Dubai’s International Media Production Zone (IMPZ).
Managing director of Kwality Printing and Stationery, Haridas Mohanlal Bhatia said: “We have been allotted a space in IMPZ and are working on moving there but because of the slowdown we have to postpone the move, possibly until 2010.”
News detail:
The global economic crisis looks to be having an impact on the relocation of printers to Dubai’s International Media Production Zone (IMPZ).
Managing director of Kwality Printing and Stationery, Haridas Mohanlal Bhatia said: “We have been allotted a space in IMPZ and are working on moving there but because of the slowdown we have to postpone the move, possibly until 2010.”
Geo Thomas, financial controller at Printmaster – another print company scheduled to shift to IMPZ – said: “We’ve not yet moved and are thinking of doing it in another year or so.
“It’s a bad time to relocate in terms of finance, with the costs involved in the construction of new buildings on the premises being very high, sometimes as much as $5.5million to $8m.”
The zone, a cluster environment for media production companies in the graphic art, publishing and packaging sectors, is an initiative of the Dubai government under the patronage of parent company TECOM Investments, a member of Dubai Holding.