Saudi Arabia's GCAM invites investors to build, operate cinemas
General Commission for Audiovisual Media invites investors to build and run theatres in small cities as local demand grows
General Commission for Audiovisual Media (GCAM) has called on investors to begin discussions regarding the requirements to procure licences to establish or operate cinemas in small cities across Saudi Arabia, where 27 theatres will be in operation across seven cities by the end of 2019.
The move comes after Saudi cinemas noted the third-highest ticket sales in the Middle East during Q2 2019, according to Saudi Arabia’s state news agency, SPA.
Saudi Arabia’s GCAM can be contacted on email@example.com by investors wishing to enquire about setting up cinemas in Saudi Arabia.
Regional and global operators alike have expressed an interest in establishing cinemas in Saudi Arabia, as part of the kingdom’s Vision 2030 economic diversification mandate.
This June, Latin American operator Cinépolis confirmed it would open six movie cinemas in Saudi Arabia over the next two years, with the first to open in Dammam’s Lulu Mall – part of the Abu Dhabi-headquartered and Indian-born Yusuff Ali M A-led Lulu Group – at the end of 2019, with four others to open in 2020, and one in 2021.