Abdulmohsen Al Hokair, Vue to open up to 30 multiplexes in Saudi Arabia

12/02/2018 Argaam

 

Saudi Arabia's Abdulmohsen Al Hokair Holding Group and UK's Vue International on Monday signed a memorandum of understanding (MoU) to build up to 30 multiplexes in the Kingdom over the next three years.

 

The joint venture plans to open the first multiplex this year, Vue said in a statement.

 

The MoU follows Saudi Arabia’s decision to lift a ban on commercial cinemas in December, following a 35-year hiatus.

 

Majed Al Hokair, chief executive of Al Hokair Holding Group, said the new venture aims to deliver a "gold standard" cinema experience for Saudi people across the Kingdom.

 

The companies will finalise the details of the new venture in the coming weeks, the statement said.

 

At present, Abdulmohsin Al Hokair Holding Group owns and operates three shopping centres, 79 entertainment centres, and 45 hotels in Saudi Arabia, the United Arab Emirates, Turkey and Egypt.

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