Abulmohsin Alhokair group for tourism and development announces signing a JV agreement to establish and operate Cinemas with Cinepolis and Al Tayer group
Abulmohsin Alhokair group for tourism and development announces signing a JV agreement to establish and operate Cinemas in Kingdom of Saudi Arabia with Cinepolis and Al Tayer group on 25th of April, 2018. Cinepolis is the fourth largest international cinema operator and the largest in Latin America as it operates 652 movie theater in 14 country all over the world. Al Tayer group is one of the largest well-known companies in United Arab Emirates. The agreement has been made in align with the kingdom vision 2030, where the company targeting to open 300 screen in 15 city in Saudi Arabia offering different concepts of cinema experiences that include luxury, junior, premium and DX4 considering the rules and media standard in the Kingdom and in accordance with Sharia and Islam rules. For the time being, the company will start to process the required procedures to get the official permits and licenses from the concerned governmental authorities as per the required laws.