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Dubai Media City (DMC) is about 25 km south of downtown Dubai City, on Sheikh Zayed Road between Dubai and Abu Dhabi. It is located adjacent to Dubai Marina, JBR and the well-known Palm Jumeirah, areas which are rapidly becoming three of the most exclusive residential areas of Dubai, less than 1 km from the sea coast and is near several five star hotels. It was built to boost UAE´s media foothold, and has become a regional hub for media organizations. The economic rules of DMC allow companies to avail themselves of a number of ownership and taxation benefits which has led many global and local media firms to move their regional headquarters to DMC (CNN, BBC, Bloomberg, CNBC, Reuters, The Times among many others). Although this area mainly provides commercial space and has not been developed for a residential use, it also has some accommodation options mainly through serviced apartments for short and long term rent targeting companies and their employees working within the area.