Land of Legends Qatar is set to become one of the largest theme parks in the Middle East with a 3-billion-dollar investment
DOHA, Qatar, Nov. 21, 2024 /PRNewswire/ -- Under the patronage and attendance of His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs, the groundbreaking ceremony for Land of Legends Qatar took place today, launching the development of a landmark destination set to transform tourism and entertainment in the region. This milestone project, born of a dynamic partnership between FTG Development and Qatari Diar Real Estate Investment Company.
Expected to attract 2 million visitors annually, Land of Legends Qatar will play a central role in advancing Qatar's tourism landscape and supporting the nation's goals for economic diversification. It is expected to open by 2028, and the project investment is valued at 3 billion dollars.
The project, which spans over 650,000 sqm, offers an unforgettable experience, taking visitors on an enchanting journey, across seven themed zones with multi unique themed attractions. Land of Legends Qatar invites guests to explore diverse landscapes, immersive experiences, and cultural marvels. This destination is packed with delights for all ages, including the family-friendly Kingdom Hotel with conference facilities and beachside activities, and Music Hotel, a multicultural destination which hosts a futuristic celebration of the world's music. From an 80-meter-high mountain to boat parades along scenic canals and thrilling water adventures, every corner promises something extraordinary. Visitors can also enjoy luxurious villas and a world-class dining selection, making each moment truly special.
On the occasion of the groundbreaking for the first major entertainment destination within the Simaisma Project, His Excellency Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality and Chairman of Qatari Diar Real Estate Investment Company, said:
"This event marks an important step toward realizing an ambitious vision aimed at enhancing Qatar's position regionally and internationally, establishing it as a leading tourist destination. The 'Land of Legends' project is a key component of Qatar's strategy to diversify its national economy, offering an exceptional experience that will contribute to attracting investments and advancing the tourism sector."
Eng. Ali Mohamed Al-Ali, CEO of Qatari Diar Real Estate Investment Company said: "The Simaisma Project embodies an inspiring vision that reflects our commitment to delivering a world-class entertainment experience with a distinctive Qatari touch. It also aims to attract investments in the tourism sector and create new job opportunities, all while adhering to the highest standards of sustainability, which are integral to Qatar's future vision."
Mr. Fettah Tamince, Founder of FTG Development and President of Land of Legends, said: "We are delighted to bring the unique Land of Legends experience to Qatar with our partner Qatari Diar, creating a destination that is more than just a theme park or hotel. It is a lively world of entertainment and leisure that will add a new dimension to Qatar's attractions and become a top choice for holidays and fun for millions in the region."
Land of Legends Qatar is the first major development within Simaisma Project, which spans over 8 million square meters and stretches along a stunning 7-kilometer beach. Alongside the theme park, Simaisma will feature an 18-hole golf course, a luxury yacht marina, high-end residential villas, and a variety of dining and retail options, establishing it as a premier leisure destination.
Photo - https://mma.prnewswire.com/media/2564497/Qatari_Diar.jpg
Photo - https://mma.prnewswire.com/media/2564496/Qatari_Diar_2.jpg
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Qatari Diar and FTG Development Groundbreaking on Land of Legends in Simaisma
Qatari Diar and FTG Development Groundbreaking on Land of Legends in Simaisma
SINGAPORE and ABU DHABI, UAE, Nov. 21, 2024 /PRNewswire/ -- Mega Matrix Inc. (NYSE American: MPU) today announced the signing of a memorandum of understanding ("MOU") with 9Yards Cinema Production ("9Yards Cinema Production"), a subsidiary of 9Yards Communications ("9Yards"), a fully integrated marketing and media agency headquartered in Abu Dhabi, UAE, to jointly establish an investment fund focused on the development of global short drama and pan-entertainment sector.
9Yards, part of NG9 Holding, is a 150-member agency and creative powerhouse, headquartered in the UAE capital, Abu Dhabi, and home to some of the world's best creative talents in the fields of advertising, public relations, digital, events, and multimedia production. NG9 Holding is a diversified holding company with interests across multiple industry sectors, including tourism and hospitality, energy, real estate, AI, aviation, alternative investments, technology, and healthcare.
The MOU provides for a joint-venture for the purpose of establishing a USD100 million investment fund that aims to support acquisitions, capture global investment opportunities, and promote the development of the pan-entertainment sector, including short dramas production and distribution network worldwide.
The proposed joint venture will establish a wholly owned company to serve as the general partner to manage the investment fund, overseeing the execution and production of the fund's investments, and ensuring the successful implementation and progress of the partnership.
"The signing of this MOU with 9Yards Cinema Productions is a significant milestone in our mission to expand globally and tap into the immense potential and talent in new global markets. Together, we aim to fuel the growth of the short drama and pan-entertainment sector, creating impactful content that resonates with audiences worldwide," said Yucheng Hu, CEO of Mega Matrix Inc.
Commenting on today's announcement, Group CEO of 9Yards, Hussam Almulhem, said: "This partnership with Mega Matrix Inc. represents a bold and transformative step for the MENA region's entertainment industry, and is in line with the wider economic diversification efforts of the Emirate of Abu Dhabi. By combining our local expertise and creative excellence with Mega Matrix's innovative vision, this US$100 million investment fund will pave the way for a new era of cinematic storytelling and pan-entertainment, both in the region and globally."
This strategic collaboration between MPU and 9Yards marks a joint commitment to exploring new business opportunities and driving innovation and growth within the region's burgeoning cinematic and film production sector. The joint venture will provide MPU with significant market insights and business growth potential, while enhancing its influence and competitiveness as well as representing a key step in its global expansion strategy.
About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.
About 9Yards Cinema Production: 9Yards Cinema Production is a subsidiary of 9Yards Communications, a fully integrated media and marketing agency headquartered in Abu Dhabi, United Arab Emirates. Established in 2017, the agency has rapidly grown into a creative powerhouse, offering a wide array of services designed to elevate brands and foster meaningful connections with their audiences with a focus on multimedia production. For more information, please visit: https://9yardscomms.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements.
When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors.
The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the "Risk Factors" in documents filed by the Company's predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof.
In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
Disclosure Channels
We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:
(X/Twitter)
x.com/MegaMatrixMPU
Facebook:
facebook.com/megamatrixmpu
facebook.com/flextvus
LinkedIn:
linkedin.com/company/megamatrixmpu
TikTok:
tiktok.com/@flextv_english
YouTube:
youtube.com/@FlexTV_English
The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Mega Matrix Inc. Signs MOU with 9Yards Cinema Production to Establish A $100m Investment Fund for Global Short Drama and Pan-Entertainment Sector
