Cinepolis

Cinema operator Cinepolis to invest $300m in Saudi, open 63 new screens

Latin American cinema operator Cinépolis has announced plans to invest over $300m in Saudi Arabia over the three years, it has announced. The company will launch six new movies complexes with 63 screens across the kingdom over the next two years. The first is slated to open in Lulu Mall, Dammam, at the end of this year, with four scheduled for 2020 and the sixth for 2021. These will be located in Al Hokair Time in Jazan, Obhour Mall in Jeddah, Cordoba Mall in Riyadh, Najran City Center and Al Massarh Mall. Cinépolis International received Saudi’s fourth cinema licence in August last year under the entity Luxury Entertainment, which has partnered with Al Hokair Group and Al Tayer Group. Cinépolis said it will introduce theatre concepts such as luxury, premium, macro XE, 4D emotion and kid-approved Cinépolis junior auditoriums in the kingdom. The first of its kind in the kingdom, the junior theatre features a jungle gym with slide and ball pit, as well as a bean-bag seating. Luxury auditoriums will include 180 degrees leather reclining seats with personal amenities, Maitre d’ call buttons, personal bag storage and adjustable tables, while macro XE auditoriums will have screens that are triple the size of the ordinary cinema screens. The cinemas will offer F&B options such as buttered popcorn and nachos, as well as paninis, flatbread pizza, crêpes and speciality smoothies. They will also feature the specialty coffee shop, ‘Coffee Tree’. In the GCC, Cinépolis opened its first cinema in Bahrain in January 2019. A spokesperson said: “Cinépolis’ launch into the Saudi Arabia entertainment market is a key milestone in our expansion strategy over the next five years.” Saudi Arabia announced in December 2017 that it would lift a 35-year-old ban on cinemas, with the first movies in almost four decades being screened last year. Read: Saudi cinema launch ends decades-old ban Around 2,600 cinemas are expected to be open across Saudi Arabia by 2030 as part of the country’s Vision 2030 diversification plan, which includes plans to develop the kingdom’s leisure and entertainment sector. Research last year by PwC Middle East showed that revenues from those cinemas could reach $1.5bn by 2030. Saudi’s overall entertainment industry is expected to contribute $24bn to the local economy and create 30,000 permanent jobs by 2030.

Saudi Arabia · 19 Jun 2019

Latin American Cinépolis to open six cinemas in Saudi Arabia by 2021

Mexico-founded Latin American operator Cinépolis will open six movie cinemas in Saudi Arabia over the next two years to capitalise on the kingdom’s Vision 2030 economic mandate, with the first to open in Dammam’s Lulu Mall – a part of the Abu Dhabi-headquartered and Indian-born Yusuff Ali M A-led Lulu Group – at the end of 2019, with four others to open in 2020, and one in 2021. Aside from Lulu Mall in Dammam, Cinépolis’s other facilities will be located in Al Hokair Time, Jazan; Obhour Mall, Jeddah; Cordoba Mall, Riyadh; Najran City Centre; and Al Massarh Mall. Cinépolis will invest $300m (SAR1.1bn) in Saudi Arabia over the next three years. The six locations will feature a total of 63 screens. The operator opened its first Bahrain cinema in January 2019 and said in a statement this month that it had witnessed “an ever-increasing following from the local community in Bahrain and Saudi Arabia alike” since the launch of the facility. Saudi General Commission for Audiovisual Media issued the fourth exhibitor license for cinema operation to Cinépolis International in August 2018 under the Luxury Entertainment entity, which is working with Al Hokair Group and Al Tayer Group to expand in the kingdom.

Saudi Arabia · 19 Jun 2019

GLOBAL CINEMA EXHIBITOR CINÉPOLIS ENTERS THE GULF WITH AL TAYER GROUP

Cinépolis, the fourth largest exhibition circuit in the world and the largest cinema exhibitor in Latin America, has partnered with Al Tayer Group, one of the Middle East's leading luxury and lifestyle retailers, to build and operate cinemas across the GCC region. This venture will introduce Cinépolis' world-class cinema-going experience - high-touch theatre concepts, including Luxury, Premium, Macro XE, 4D Emotion technology and kid-approved Cinépolis Junior auditoriums - to Gulf audiences for the first time. Over the next five years, this joint venture will establish Cinépolis as a leading player in the UAE, Oman and Bahrain. In Saudi Arabia, Cinépolis and Al Tayer Group have partnered with Al Hokair Group, a leading hospitality and entertainment operator in the MENA region. The Joint Venture has recently been granted a Cinema Operating License by the Saudi General Commission for Audiovisual Media (GCAM) and plans to develop movie theatres in 15 major cities across Saudi Arabia. "We are delighted to have entered the Gulf market through our regional partner Al Tayer Group," said Cinépolis Managing Director Middle East & Asia, Javier Sotomayor. "Through this venture, we are confident we can provide best in class service and experiences to our future customers. We are equally honoured to have partnered with Al Hokair Group in Saudi Arabia, who shares our mission to provide best in class service and experiences to guests." "We are pleased to partner with Cinépolis, and are delighted to become their regional partner offering world-class entertainment across the GCC", commented Humaid Ahmed Al Tayer, Vice President for Al Tayer Group. "We are also looking forward to the fruitful partnership with Al Hokair Group to set up cinemas in Saudi Arabia. We are confident that the community will enjoy an unparalleled experience in our theatres" Mishal Al Hokair, Deputy CEO & General Manager for Al Hokair Group, added "Al Hokair Group has been at the forefront of tourism and family entertainment in Saudi Arabia for over five decades. Our partnership with industry leaders Cinépolis and Al Tayer Group is a testament to our mission to contribute to the growth of entertainment in the Kingdom and the region."

United Arab Emirates · 4 Sep 2018

Saudi awards cinema licence to fourth operator

Saudi Arabia has awarded its fourth cinema licence to Lux Entertainment Company in partnership with Al-Hokair Group for Tourism and Development, Sinopolis International and Al-Taeir Group. The group joins the other licensed operators Al-Rashed Empire Cinema Consortium, UAE malls and retail company Majid Al Futtaim’s Vox Cinemas and US firm AMC Entertainment, which have entered the market after a government decision to lift a nearly 40-year ban on cinemas at the end of last year. The latest licence winner is due to open 300 screens in 15 cities across the kingdom over the next five years, according to Saudi Press Agency. This compares to 30 cinemas within three years planned by Al-Rashed, 600 screens over five years from Vox and 40 cinemas over five years from AMC. US entertainment technology firm IMAX, which has partnered with MAF for up to six IMAX screens, said in May there could be up to 100 IMAX screens in the kingdom in the coming decade. Saudi authorities plan to set up around 350 cinemas with over 2,500 screens by 2030, which they hope will attract nearly $1bn in annual ticket sales.

Saudi Arabia · 29 Aug 2018

Al Tayer Group and Cinépolis, the largest cinema exhibitor in Latin America and fourth largest cinema exhibitor in the world, have created a joint venture headquartered in Dubai to build and operate cinemas across the GCC region. This venture will introduce Cinépolis' world-class cinema-going experience - high-touch theatre concepts, including Luxury, Premium, Macro XE, 4D Emotion technology and kid-approved Cinépolis Junior auditoriums - to Gulf audiences for the first time starting in early 2019. Over the next five years the venture will expand in the UAE, Oman and Bahrain, where it plans to become a leading player in the movie theatres industry and bring the best movie-going experience to customers. In Saudi Arabia, Al Tayer Group and Cinépolis have partnered with Al Hokair Group, a leading hospitality and entertainment operator in the MENA region, to set up movie theatres in 15 major cities across the country.

31 Dec 2007