Mubasher: Vox Cinemas, fully-owned by Dubai’s conglomerate Majid Al Futtaim, has said it will allocate $500 million investments to boost its presence in Saudi Arabia.
The key investment drive will add an average of 150 screens per year in the kingdom until 2023 to reach a total of 600 screens, Arabian Business reported on Thursday.
The kingdom’s cinema industry has had “a good start”, Vox Cinemas’ country manager for Saudi Arabia told Arab News.
The cinema giant has been spurred by audiences responding to its “entertainment-plus-cinema” offering, Mohamed Al-Hashemi added.
The concept entails setting up primarily family-oriented movie theatres, in addition to other recreational facilities comprising bowling alleys and food and beverage outlets, according to Arabian Business.
“The market reaction has been excellent. We are also very pleased at the support we have received from the government so far, in everything from operating, to licensing and expansion,” Al-Hashemi said.
By January-end, Vox Cinemas opened its first branch in the Saudi city of Jeddah.
In April 2018, the UAE-based Cinema operator announced plans to boost its footprint in Saudi Arabia by obtaining new licences, along with opening 300 cinemas.
