Riyadh – Mubasher: Global cinema chain, Cinépolis, plans to open six new cinema locations in Saudi Arabia over the coming three years with $300 million in investments.
The step comes along with Saudi Arabia’s Vision 2030 that aims at diversifying the country’s economy by leveraging non-oil sectors and promoting culture and entertainment.
The largest cinema exhibitor in Latin America and the world’s fourth-largest exhibition circuit will open the first one in Lulu Mall by the end of 2019, Cinépolis said in a statement.
Furthermore, four locations are set to be opened in 2020, while the sixth one will be inaugurated in 2021.
The new locations will be in Lulu Mall in Dammam, Al Hokair Time in Jazan, Obhour Mall in Jeddah, Cordoba Mall in Riyadh, Najran City Center and Al Massarh Mall, with a total of 63 screens across all six locations.
The new cinemas will provide movie-goers with an unrivalled level of service, food, technology, and the latest movies from around the world, the statement added.
In August 2018, the Saudi General Commission for Audiovisual Media (GCAM) issued the fourth Exhibitor Licence for Cinema Operation to Cinépolis International under the entity Luxury Entertainment LLC that has partnered with Al Hokair Group for expansion in Saudi Arabia along with its regional partner, Al Tayer Group.
Cinépolis noted that it plans to be a leading exhibitor in the kingdom.
