Written by Kianna Best on Sep 19, 2022. Posted in Incentive News

Neom launches 40% production rebate

The sustainably futuristic city of Neom has launched its 40% cash rebate incentive for productions in the region. The incentive can be applied to feature films, television drama projects, reality series, documentaries and commercials.

Following the opening of production facilities and studios in the region, Neom’s incentive launch is further promoting the city as a go to filmmaking making destination. Able to be applied to a range of visual productions, producers are able to receive a higher percentage of the incentive if their involvement included “industry development contributions”.

Contributions to development include investment into production infrastructure and the hiring of local productions cats and crew. For projects to qualify for the rebate, a minimum of USD 500,000 expenditure must be met. The newly announced rebate plan form Neom, however, cannot be combined with the 40%  incentive released by the Saudi Film Commission in May 2022.

The region has already hosted a number of projects that have taken advantage of the early stages of the programme. These projects include the USD 150 million feature Desert Warrior, directed by Rupert Wyatt and led by Captain America’s Anthony Mackie, as well as Rise of The Witches, Saudi’sMBC Studios’ 10 part fantasy series which is the biggest TV series to be made in the region.

Along with the incentive, the opening of Neom Media Village and Bajdah Desert Studios was also announced. Together these two facilities will make up the largest sound stages in the region. With two already functional sound stages available, a further seven are set to open in 2023. With sound stage space measuring in at 2,400 sq metres and Bajdah Desert Studios having two sound stages at 3,000 sq metres each, the influx of international production has ample space for any type of production.

Meet with Neom at FOCUS 2022, live at the Business Design Centre London 6-7 December and online 8-9 December. Register for a FREE delegate badge at focus2022.com.

Images courtesy of Neom