IMAX Corporation and VOX Cinemas announced a sales agreement which has a minimum of four new IMAX theatres to be added to new multiplexes in Riyadh and other prime locations.
Dubai-based VOX Cinemas plans to expand IMAX theatres in Saudi Arabia following the Gulf kingdom's after the decision to lift a decades-old ban on the industry.
IMAX Corporation and VOX Cinemas announced a sales agreement which has a minimum of four new IMAX theatres to be added to new multiplexes in Riyadh and other prime locations.
A statement said the first IMAX theatre opened at VOX Cinemas has four-screen multiplex in Saudi Arabia at Riyadh Park Mall.
VOX Cinemas was granted the license to operate cinemas in the Kingdom and plans to invest SR2 billion ($533.3 million) to open 600 screens in Saudi Arabia over the next five years.
IMAX theatres will also be featured at VOX Cinemas in Mall of Saudi and Majid Al Futtaim’s City Centre Ishbiliyah.
IMAX already has a significant impression in the Middle East, with VOX Cinemas running many successful IMAX locations regionally which includes Mall of the Emirates (Dubai), City Centre Qurum (Oman), City Centre Bahrain (Bahrain) and City Centre Beirut (Lebanon).
Richard L Gelfond , CEO of IMAX , “Saudi Arabia presents an exciting and sizeable new growth opportunity for IMAX, and today’s agreement with our long-time partners at VOX Cinemas marks an important first step in our efforts to capitalize on this untapped market.”
CEO of Majid Al Futtaim Cinemas, Cameron Mitchell added, “We’re thrilled to bring IMAX to commercial theatres in KSA for the first time. We thank the Saudi Government for the faith they have placed in us and we look forward to contributing to the Saudi Vision 2030 as we support the growth of their new cinema sector.
“We are investing heavily in creating an exceptional movie-watching experience for cinema goers in Saudi Arabia - incorporating not just the latest movie content, but also top-quality food and beverage, superior customer service and cutting-edge technology.”
VOX Cinemas has 322 screens across eight countries in the region.
