Dreamworld Film City, a consortium headed by leading South African film producer Anant Singh, has won the bidding to establish a world-class studio facility in Cape Town.
The consortium, which was shortlisted with five other bidding groups by the provincial government of the Western Cape and the City of Cape Town at the end of July, includes Singh's Videovision Entertainment, local TV station etv and Fable Mountain - a commercial and feature film production company headed by Mike MacCarthy.
"Dreamworld and all its partners are passionate about building a stronger film industry in [South Africa], to being internationally competitive and to developing our amazing local talents," said Singh who is currently attending FilMart in Hong Kong.
"We have worked on this studio development for more than five years and we know it works especially because all our partners are in the industry and understand the business. We are very excited about making the Dreamworld vision a reality and delivering what the industry needs to make this region a global player in the film industry."
Dreamworld's proposal represents a total investment of at least US$61m in the development which is scheduled for completion in 2005. The first phase will include eight sound stages, various production facilities and outdoor back-lot areas.
However the consortium said it will eventually offer a full service "one-stop-shop" production facility which will help local producers clinch deals and establish Dreamworld as the "home of South African production".
Black economic empowerment was a key factor in the bidding process. Dreamworld said the project has a 72.5% empowerment achievement and could create up to 8,304 jobs.