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Emaar Malls signs cineplex deal
Emaar Malls Group, a wholly owned subsidiary of Emaar Properties has signed a 75:25 joint venture deal with Cathay Organisation, the Singapore-based premier entertainment provider to form Reel Entertainment.
- Staff Report
- Published: 23:35 October 25, 2007
Dubai: Emaar Malls Group, a wholly owned subsidiary of Emaar Properties has signed a 75:25 joint venture deal with Cathay Organisation, the Singapore-based premier entertainment provider to form Reel Entertainment.
To be based in Dubai, Reel Entertainment will develop and manage all the cineplexes in the shopping malls that Emaar Malls Group plans to develop in the emerging markets of the Middle East, North Africa and the Indian subcontinent.
Initially, Reel Entertainment will open two cineplexes in Dubai within the next year at The Dubai Mall and the Dubai Marina Mall.
Rashid Zakaria Doleh, chief executive of Emaar Malls Group, and Choo Meileen, executive director, Cathay Organisation, signed the joint venture agreement in Dubai. Emaar Malls will have 75 per cent stake in Reel Entertainment LLC with the rest to be owned by Cathay Organisation.
Reel Entertainment will open the largest cinema complex in Dubai at The Dubai Mall, which will be one of the world's largest shopping and entertainment destinations.
The megaplex will be Dubai's largest cinema with 22 screens and have about 3,000 seats. Covering an area of 110,000 square feet, the megaplex at will feature four VIP halls, one Premier hall, an Arthouse hall and 16 regular halls. Premier hall, the largest, will be able to seat up to 350 persons. Regular halls can seat anywhere from 70 to 250.
"Reel Entertainment will redefine the cinematic experience in our shopping malls by employing the latest in digital audio-visual technology and offering superior service standards including online ticket booking facilities, automated kiosks and box-office counters located throughout our malls," said Doleh.
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