Oil-rich Abu Dhabi, which has more money than it knows what to do with, will spend $1 billion to produce up to eight films a year over the next five years.

imagenation abu dhabi, part of Abu Dhabi Media Company helmed by chairman Mohamed Khalaf Al-Mazrouei, will be based in the Arabian country but work with Hollywood and Middle Eastern studios.

"We are bringing Hollywood and the international production community to Arabia," former Disney executive and imagenation chief executive Edward Borgerding told the Telegraph. "Our aim is to make award-winning films which are commercially successful and appeal to audiences across the world."

Not everyone is happy about yet another bloated production company coming to Tinseltown. "The world needs new sources of energy and cures for diseases, but another set of eight films? Who cares?" media analyst Harold Vogel, said to the Los Angeles Times.

So who gets to make Saw VI?