Dubai-based live events production company, Scorpion Productions, will invest US$27 million over three-years to expand its interests worldwide.
An initial investment of $7m will be used to open offices in London and New York this year with the aim of advancing tie-ups with entertainment companies in both cities. The remaining funds will be used to open offices in other locations around the world in 2009 and 2010.
Vishal Kewalramani, managing director of Scorpion Productions, said that Dubai's burgeoning profile as a key destination for international artists, played a key role in the company's decision to look beyond the Middle East to grow its business.
"Our expansion should have a huge impact on our business in Dubai," he said. "It will also allow us to target and service international markets more effectively.
"Having a truly global presence will minimise our risk in what is a very seasonal business in the Middle East. We will also gain access to new talent. Our business as a whole will profit from our international expansion," he added.
Kewalramani explained that Scorpion typically spent around $150,000 annually travelling to key destinations including Sydney, Los Angeles and Paris, in a bid to strengthen its ties with existing partner agencies and seek out new clients.
"We are keen to explore new opportunities with key partners and expand our business beyond the Middle East. Our people bring extensive international experience with them which makes it possible for us to approach each venture from the right angle.
It's really a matter of getting the right people for the right job and that's the strategy we will apply internationally," said Kewalramani.
Scorpion Productions was established in Dubai in 2003 under the name Scorpion Promotions, primarily as a talent agency.
Since then the company has expanded its interests to include live event services photography and film production.