Emaar Entertainment has created a joint venture with GOSI Investment Ventures to roll out a number of multiplexes across the Kingdom of Saudi Arabia.
Saudi Arabia could potentially develop into one of the world’s top 10 cinema markets in the next two to three years, with many investing in the market including Majid Al Futtaim’s VOX Cinemas. Emaar’s cinema division, Reel, is the latest to target the market with a SR1 billion investment.
The brand’s first Saudi location will be in Riyadh, which is set to open later this year. This will be scaled up to 20 venues, including family entertainment options in the next five years through a 1 billion riyal investment. Ahmad Matrooshi, Executive Board Member, Emaar Properties said in a statement: “We are confident that our partnership with GOSI Investment Ventures will provide our guests with innovative cinema formats tailored for every taste.”
The very first Reel Cinema location opened at The Dubai Mall in 2009 which was followed by a second location at Dubai Marina Mall in 2010.
