Mexico-based cinema chain Cinépolis will invest more than US$300m into the Kingdom of Saudi Arabia, the company has announced. It will open six new movie complexes with a total of 63 screens over the next two years.
The first of these will be in the Lulu Mall, Dammam at the end of this year. Four more will follow next year and the final one will be opened in 2021. They will be in Al Hokair Time locations in Jazan, the Obbouor Mall in Jeddah, the Cordoba Mall in Riyadh, Najran City Centre and Al Massarh Mall.
Cinépolis was the successful recipient of the fourth cinema operating licence issued by the Saudi General Commission for Audiovisual Media under the Luxury Entertainment brand, partnering with Al Hokair Group and its regional partner, Al Tayer Group.
A spokesperson for Cinépolis Gulf said: “Cinépolis’ launch into the Saudi Arabia entertainment market is a key milestone in our expansion strategy over the next five years. “We are proud to be contributing to the Kingdom’s Vision 2030 as it goes through this historic period of transformation and hope to provide movie-goers with unrivalled experiences as Saudi Arabia increases its culture and entertainment offering.”
