Abu Dhabi – Mubasher: UAE-based leisure operator and developer Majid Al Futtaim is planning to monthly open a new cinema in Saudi Arabia, chief executive officer Alan Bajani said.
During an interview with Al-Arabiya, on the sidelines of the Future Investment Initiative (FII) conference’s second day, the top official announced finalising the addition of new 250 film screens across the kingdom’s existing movie theatres.
He pointed out that this comes as part of Al Futtiam’s long-term plan to set up more 600 VOX cinemas screens in Saudi Arabia over the next five years.
Vox Cinemas, the cinema arm of Majid Al Futtaim, said in April it had obtained a licence to operate movie theatres in Saudi Arabia and would open four-screen showrooms in Riyadh in the coming days.
Vox Cinema also plans to invest SAR 2 billion ($ 533 million) to open 600 screens across Saudi Arabia by 2023, Reuters said last April.
About 350 cinemas and 2,500 screens expected to be open in Saudi Arabia by 2030.
Organised by Saudi Arabia’s Public Investment Fund (PIF), the FII conference began in Riyadh on Tuesday, 23 October and would end on Thursday, 25 October
