Riyadh – Mubasher: iPic Entertainment has signed a partnership contract with BAS Global Investments Company to start developing cinemas in Saudi Arabia.
The Florida-based luxury cinema operator said its Saudi cinemas, which will feature 4K digital cinema technology, could take between 50 to 90 people.
iPic did not give any further details about time of opening the cinemas or their planned locations.
The theatre and luxury restaurant brand believes that it will see major expansion in Saudi Arabia, especially after the country lifted its cinema ban.
Over two thirds of the Saudi population is under 30 years, which likely promises a boom in both the entertainment sector and cinemas in particular, the American cinema brand added.
Through the deal with BAS Global, iPic is looking to boost its brand all over the kingdom, iPic CEO and founder Hamid Hashemi said.
“We are excited to bring our first-class entertainment experience to the region and be a part of the country’s Saudi Vision 2030 Plan which focuses on job creation and transforming the economy toward more recreation and tourism spending,” Hashemi added.
iPic plans to inaugurate a number of restaurants in each region of Saudi Arabia, in addition to the three currently under its management namely: City Perch, Tanzy, and The Tuck Room.
In February, Saudi Arabia stated that it will invest SAR 240 billion (about $64 billion) in the recreation sector over the next decade, as well as it will start building a world-class opera house as part of its cultural and recreational projects.
