SOURCE: Arabian Business
Time: April 19, 2018
VOX Cinemas said on Thursday it has been awarded one of the first licences to operate cinemas in Saudi Arabia.
Its new cinema, which will be the first multiplex in Saudi Arabia, will open at Riyadh Park Mall in the coming days, the company said in a statement.
The announcement paves the way for VOX Cinemas to start delivering on a plan to bring its cinema entertainment portfolio to Saudi Arabia, it added.
The VOX Cinemas Riyadh Park experience will include four screens located within the largest Magic Planet Family Entertainment Centre in the region. It will include the first IMAX screen to exhibit movies and VOX KIDS, the concept designed especially for young movie fans.
VOX Cinemas parent company Majid Al Futtaim has already announced project investments valued at SR14 billion across its mall asset, fashion, leisure and retail offerings in Saudi Arabia. This commitment is expected to create more than 114,000 direct and indirect job opportunities.
Majid Al Futtaim CEO Alain Bejjani said: “We thank the Saudi Government, the Ministry of Culture and Information and the General Commission for Audio-visual Media for the confidence they have placed in us to contribute to a new chapter in the history of the Kingdom of Saudi Arabia.”
VOX Cinemas said it is investing an additional SR2 billion to open 600 screens in the next five years in Saudi Arabia. These new cinema developments will create some 3,000 direct jobs.
Through its partnership with 20th Century Fox, the distribution arm of Majid Al Futtaim Cinemas will also be exclusively distributing Fox content to all cinemas across Saudi Arabia. In 2018, the company is planning to release anticipated hits including The Darkest Minds, The Predator and the James Cameron produced Alita Battle Angel.
Bejjani added: “Majid Al Futtaim is proud to be one of the largest private sector investors in the kingdom and Vision 2030, with an investment commitment now increasing to SR16 billion.”
Further cinemas currently under design include Majid Al Futtaim’s Mall of Saudi and City Centre Ishbiliyah, with both locations opening in Riyadh in the coming years.