Saudi Arabia to Open Over 50 New Cinemas

By: Ahmed Yasser

CAIRO, Feb.2. (SEE) –A massive entertainment complex is being planned for Riyadh as part of a multibillion-dollar drive to boost the leisure sector in Saudi Arabia. The agreement is part of SEVEN’s strategy to develop and operate 50 movie theaters throughout the Kingdom over the coming years.

The 100,000-square-meter project will be developed by the Saudi Arabia Entertainment Ventures Company ”SEVEN”, a unit of the Kingdom’s Public Investment Fund.

Abdullah bin Nasser El-Dawoud chairman of the Saudi Entertainment Ventures Co. ”SEVEN’,’ and Fouad El-Rashed CEO of Asala Holding Co., on January, signed a deal to establish new ”AMC” cinemas in several Saudi Arabia cities.

“SEVEN”, a unit of the Kingdom’s Public Investment Fund “PIF”, aims to drive the Saudi Arabia entertainment industry forward through its other strategic sectors, particularly leisure parks.

SEVEN, Hamat ink deal to set up cinema complexes

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