Vox Cinemas pledges $500m to build movie theatres in Saudi Arabia

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Thu 7 Mar 2019 05:33 AM

Vox Cinemas pledges $500m to build movie theatres in Saudi Arabia

Over the next four years, Vox wants add screen in the GCC's largest economy at the rate of 150 per year

Vox Cinemas has said it will set aside $500 million in a major investment drive to boost its number of screens in Saudi Arabia.

The investment will see it add an average of 150 screens per year in the country until 2023 to reach a total of 600 screens.

Saudi Arabia’s cinema industry has had “a good start”, the cinema giant’s country manager for Saudi Arabia, Mohamed Al-Hashemi, told Arab News, adding that the firm has been encouraged by audiences responding to its “entertainment-plus-cinema” offering.

The concept involves building primarily family-oriented movie theatres along with other recreational facilities including bowling alleys and food and beverage outlets.

“The market reaction has been excellent. We are also very pleased at the support we have received from the government so far, in everything from operating, to licensing and expansion,” he said.

Fully owned by UAE-based conglomerate Majid al Futtaim, Vox recently opened a 15-screen theatre in Riyadh, bringing the total number of screens in Saudi Arabia to 31.

It next plans to add 16 more screens in the city by the end of the month, and is aiming to have 110 screens across the country by the end of the year.