Emaar Entertainment UAE, a subsidiary of Dubai-listed developer Emaar Properties has confirmed it will operate cinemas in the kingdom of Saudi Arabia from December this year.
In a Monday statement, the company said the Saudi regulatory body, the General Authority for Audio-visual Media, has just issued a license to Emaar Entertainment to bring Reel Cinemas into Saudi Arabia.
The first venue will be opened in December, in capital Riyadh and will feature 14 movie screens.
Emaar is making foray into the Saudi retail entertainment market in collaboration with kingdom-based GOSI Investment Ventures.
Through the partnership, Emaar aims at opening twenty new cinemas in the next five year with an investment valued $266 million.
Saudi Arabia in 2018 as part of 2030 development plan lifted the ban on cinemas. The world largest oil exporter has already greenlighted 34 cinemas in 12 cities with about 342 screens and more than 35,000 seats. 70 more are expected to open in 13 administrative regions of the kingdom according Khaled bin Abdullah Al-Bakr, acting executive director for marketing and communication at the Quality of Life Program Centre.
Reel Cinemas first opened at The Dubai Mall in 2009, followed by a second location at Dubai Marina Mall in 2010, The National News reports.
Other locations include Jebel Ali Recreation Club, The Springs Souk, Al Ghurair Centre, Dubai Marina Mall, Rove Downtown and The Pointe.
Dubai-based Emaar to operate cinemas in Saudi Arabia
