Cinema chain Vue International is set to open up to 30 multiplex cinemas in Saudi Arabia over the next three years after signing a deal with Riyadh-based operator, Al Hokair Group.
The agreement follows the surprise development last December in which Saudi Arabia lifted a ban on commercial cinemas for the first time in 35 years. The first location could be opened as early as Q4 2018.
Vue International has been in talks since last October, after the operator was the only cinema chain to be invited to the Future Investment Initiative event held that month.
“This is a huge moment in the history of global cinema development for the exhibition industry and we are honoured to be partnering with such a well regarded and prestigious operator,” said Tim Richards, founder and chief executive, Vue International
“Cinema has been an exciting form of out of home entertainment for over 100 years and the opening up of the Kingdom is testament to the industry’s continuing growth and resilience.”
Al Hokair Group is well known in the region for building and operating leisure and hospitality complexes, and currently owns and operates three shopping centers, 79 FECs and 45 hotels in Saudi Arabia, UAE, Turkey, and Egypt.
