Vue International would be opening up thirty multiplex cinemas in the Kingdom of Saudi Arabia over the span of next three years. It has signed an agreement with a Riyadh based Abdulmohsin Al-Hokair Holding Group.
The official memo of understanding was signed between the two on Monday in accordance with the announcement made last December that Saudi Arabia would be lifting the ban on the commercial cinemas for the first time ever in thirty-five years.
Vue International is one of the leading cinema operators of the world, managing the most prestigious brands in the significant European markets and Taiwan, extended in ten nations, two hundred and twelve sites and one thousand nine hundred and two screens.
Since last October Riyadh has been in conversations with Vue International. The international cinema chain was the only operator to get the invitation to the Future Investment Initiative event that was held that month.
Tim Richards—the chief executive and founder of the Vue International, said in one of his statement that this is a great moment in the history of worldwide cinema development for the exhibition sector and that the company is honoured to be doing a partnership with such respected and well-regarded operator.
He added that cinema is one exciting kind of out-of-home entertainment since like hundred years and the decision of Kingdom to open up for this industry indicates that the industry is thriving and growing continuously.
By the end of this year, the first cinemas would be opening, as per Vue International.
Al-Hokair Group is famous in the region for the making and operating of relaxing and hospitable complexes. The Group presently is the owner of three shopping centres, seventy-nine entertainment centres and forty-five hotels in Saudi Arabia, Egypt, United Arab Emirates and Turkey.
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