Al Hokair Group, Lux Entertainment win fourth cinema license in Saudi Arabia

30/08/2018 Argaam

 

Abdulmohsen Alhokair Group for Tourism and Development Co. (Al Hokair Group) was awarded a fourth license to operate cinemas in the kingdom, in partnership with Lux Entertainment Co., Cinepolis International and Al-Tayer Group, state-owned SPA has reported.

 

This partnership seeks to establish 300 cinemas in 15 cities across the Kingdom in five years.

 

The group added that it expects the related financial impact to show in Q2 2019.

 

In April, Vox Cinemas, a subsidiary of Majid Al-Futtaim, won the second license to operate cinemas in the Kingdom, while the third cinema license was awarded to the Al-Rashed United Group — Empire Cinema earlier this year.

 

Al Hokair Group also signed a joint venture agreement in April with Mexico's Cinepolis and UAE's Al-Tayer Group to open cinemas in Saudi Arabia.  

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