Dubai: Emaar’s cinema division Reel is the latest UAE company to make a grab for audiences in Saudi Arabia. Emaar Entertainment has struck a joint venture with GOSI Investment Ventures to roll out multiplexes in the Kingdom, which could develop into the world’s Top 10 cinema markets in the next two to three years.
The first Saudi location from the new alliance will be in Riyadh - opening later this year - and scaled up to 20 venues, including family entertainment options, in the next five years through a 1 billion riyal investment. Ahmad Matrooshi, Executive Board Member - Emaar Properties said in statement: “We are confident that our partnership with GOSI Investment Ventures will provide our guests with innovative cinema formats tailored for every taste."
The first Reel Cinemas location opened at The Dubai Mall in 2009, followed by a second location at Dubai Marina Mall in 2010. It was the first cinema in the UAE. to introduce a hotel-cinema concept with Reel Cinemas-Rove Downtown, the mid-scale hotel in Downtown Dubai.