Dreamworld Film City was launched recently, on the Dreamworld site near Faure in Cape Town, at an event attended by dignitaries and the media.
Western Cape Premier Ebrahim Rasool, Minister for Environmental, Planning and Economic Development, Tasneem Essop and Executive Mayor Helen Zille, participated in the launch.
It was announced at the function that a Heads of Agreement has been signed between Dreamworld Film City and Wesgro, the investment and trade promotion agency for the Western Cape. This R30m investment secures Wesgro a 10% stake in Dreamworld and will ignite the first phase of the development which will see delivery of this flagship studio.
Dreamworld is headed by a formidable team with South Africa's most acclaimed film maker Anant Singh from Videovision Entertainment, Marcel Golding, CEO of etv, and a strong local empowerment component with Ms Phuti Tsukudu and the Helderberg African Chamber of Commerce.
The Dreamworld development brings a massive injection into the Western Cape and South African economy. It is estimated that the construction of the proposed Dreamworld Film City could result in excess of 8 300 additional employment opportunities, which will be created and sustained during the construction period. Of these employment opportunities over 5 300 employment opportunities will be created directly as a result of the development. The capital investment during the construction period is estimated at R1, 5bn.
Significantly, said Singh, the areas that would primarily benefit most are areas of greatest need in and around the studios, including Khayelitsha, Blue Downs, Crossroads, Eersteriver, Gugulethu, Langa and Mitchell's Plain. During the operational phase it is estimated that unemployment in these areas will be reduced significantly, resulting in an increase in household income.
Singh said the position of the site in Faure had been carefully chosen for its suitability as a film studio site on the advice of both Dreamworld's international and local consulting teams, including international studio experts from the USA. "The development will act as an investment catalyst along the N2 corridor which will directly benefit disadvantaged communities which is in line with the Western Cape Government and City of Cape Town's economic growth plan", he said.
Construction is now set to begin on the project, bringing to a conclusion a process that started almost four years ago. The launch follows the decision by Minister Tasneem Essop earlier this year to uphold the Environmental Record of Decision (ROD) and sign off on the rezoning of the Dreamworld site. Construction is set to commence as early as January 2007 with the studios anticipated to be operable by early 2008.
The project, valued in excess of R400m, will be completed over phases with the different phases being developed at intervals, in line with the Environmental ROD and to ensure optimal operational capacity.
Commenting on the way forward now that zoning has been approved, Marcel Golding said that Dreamworld is proceeding with the remaining statutory approvals including subdivision, site development and building plan approvals which will be concluded by the end of 2006.
"The construction of the Dreamworld Film Studios will take place within the framework of a Targeted Procurement Management System which makes provision for Cape businesses and people, especially those from the disadvantaged sector, to receive preference wherever possible in terms of contracts and procurement, recruiting, outsourcing, and the full range of professional services," said the Premier.
"Dreamworld will provide a right-sized, world-class one-stop film city in an appropriate location that will entice year-round growth in film production to cater for both the current and indeed future needs of this dynamic and growing industry segment in Cape Town. We envisage that Dreamworld will become the hub of the film industry in the Western Cape," Singh concluded.
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