Abu Dhabi- United Arab Emirate (AHN) – State owned Abu Dhabi Media Co., on Wednesday, expressed its willingness to invest over $1 billion in Hollywood-type film and digital media production.

This they would do in partnership with Hollywood and other international movie producers. The company mentioned that it has set up Imagination Abu Dubai to enter into the partnerships.

"Imagination Abu Dhabi will enter into partnerships with high-profile USA-based and other international producers to develop and produce content for distribution throughout the world."

"The company will spend in excess of $1 billion over the course of the next five years in the creation of both full-length feature films and digital content."

This was announced two days after the wealthiest oil rich emirate, a member of the United Arab Emirates, announced buying English football club Manchester City from former Thai Prime Minister Thaksin Shinawatra.

According to Mohamed Khalaf al-Mazrouei, chairman of Abu Dhabi Media and the new subsidiary, they plan to transform Abu Dhabi into a world leader in media production.

"Abu Dhabi has established itself as a major player in the global economy, as evidenced through recent activity in the energy, real estate and transportation sectors. Media is no different," said Al-Mazrouei.