AlUla in Saudi Arabia to House a Notable Film Studio, Boosting the Region’s Real estate Sector

Saudi Arabia is currently building a new studio in AlUla, as part of its historic infrastructural development.

The structure is located in AlUla’s Fadhla region. It will include two sound stages measuring 24,000 sq.ft, catering, production offices and a backlot.

According to reports, Gerard Butler’s Kandahar and Cherry finished filming in the area recently. The story is scheduled to air on Apple TV+.

Stephen Strachan, Film AlUla’s Film Commissioner, spoke to Screen about the project. He said: “We are keenly interested in supporting local productions but also attract more foreign productions to AlUla. Building a studio (one the first in Saudi Arabia), will help us achieve this.”

He said, “We have been granted permission to construct the studio. We are currently planning construction with the goal of opening the studio by February 2023.” Filming should be allowed to continue all year.

A resort-style complex will be built nearby to support the studio infrastructure. It will include around 300 units, which will be split between offices and accommodation to accommodate productions and staff.

AlUla has already become a popular filming location in the region. It has 639 days of filming from January 2022 to March 2022. The region boasts a stunning topography, from volcanoes and mountains to UNESCO world heritage site.

Future of film studios

Since the beginning of time, real estate technology has evolved from 3D printing to building materials. Web3 Can blockchain be added to film and TV real property?

Immobilium is a blockchain-powered technology company that specializes in real estate. The platform uses blockchain to transform real estate assets into commodity-type assets that can be traded globally quickly with fiat and crypto.

This concept could potentially open up many industries. Broadcasters, OTT platforms, and film and TV studios could license or buy specific stages to help in the increasing demand for content. It could also assist banks and financiers in the commercial process.

Sasha Poparic is the founder and CEO of Immobilium. It is both the most liquid and largest asset class. It’s a shame to let go of such a valuable asset class that can be transferred much faster than is possible now. Modern times are slower than ever in terms of the time required to close a real estate deal.

Technology allows it. The regulatory framework is more understanding of technology and the security that technology can offer. This fits well with the goals of regulators. It’s a win-win situation for all parties.

The company’s current headquarters is in Los Angeles, California. While the U.S. is the primary market, it believes that global growth is possible.

Poparic said, “We don’t consider ourselves disruptors. We think we are the solution for all.” A tool to extend the reach of brokers worldwide and a way for regular consumers to make their own sales.

We envisioned a process that would allow real estate transactions to be completed in under 15 minutes and close escrow within days. Now we’re making it happen. Imagine the impact this could have on entertainment’s real estate market.

Nenad Mitosevic is a co-founder. He said, “Blockchain transforms real estate into commodities and can impact the entire sector.”

It addresses an important problem in the [realty] industry: trust. Blockchain allows anyone to see transparently all details about a property, including previous ownership details and transaction details. This removes any uncertainty for interested buyers or investors.

Netflix
NFLX

Large sound stages can be rented in the U.K

. Globally, large entities have the potential to be useful with transactions and decisions happening in a matter of days rather than months. This is a useful tool in today’s entertainment industry.

Lazaros Georgiadis was the second co-founder of the company. He said: “It allows so many companies the possibility to be flexible in how they think. Because of the ease of market conditions and transfer, it allows governments to increase studio growth. This helps to create a better environment.

It provides investors in the sector with safety and the ability of transferring funds in many ways. This will aid in job creation and scalability across the film and television industry and other sectors.

Blockchain is still a user-friendly concept. The biggest challenge in adapting the area is changing workflows, mindsets and user behavior to optimize the studio real estate sector and other areas.

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