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20-04-21
UAE’s Emaar Entertainment, Saudi Arabia’s GOSI Investment to expand Reel cinema in KSA
(MENAFN)UAE-based Emaar Entertainment enrolled into a partnership with Saudi Arabia’s GOSI Investment Ventures to increase its Reel Cinemas chain into the Kingdom.
The companies stated in a statement that “The partnership plans an aggressive expansion into the Kingdom’s entertainment market, which means reaching cinema fans no matter where they are in Saudi Arabia.”
“Within the next five years, audiences can look forward to twenty new venues which will include both cinemas and family entertainment centres across the Kingdom.”
The collaborators plan to invest about SR1 billion (USD270 million) inaugurating Reel Cinemas in Saudi Arabia over the next five years. The first outlet is going to be inaugurated in Riyadh in December.
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