Riyadh to increase investment in ‘shoppertainment’ by 2030
Wider plans include opening more than 350 cinemas across the kingdom of Saudi Arabia
Global real estate consultancy firm CBRE's recent data release reported growth in its various real estate segments in 2019. In addition, the Saudi Arabian capital’s entertainment and F&B sectors will reportedly see several innovations and continued marked growth.
In addition, the report indicated an increased focus on ‘Shoppertainment’, with around ten cinemas opening in the capital since 2018 and wider plans to open more than 350 cinemas across the country by 2030.
In 2019, Saudi-based real estate company Al Akaria announced the a joint venture with Triple Five to develop the world’s largest mixed-use entertainment and shopping complex at Al Akaria’s Widyan complex in the capital.
Another report published ahead of the Cinema Build KSA 2020, which takes place in the capital in February 2020 outlines its cinema sector forecast in the region for 2020: 1,323 total screens, 140 total cinemas, a total investment of SAR5bn, 5,314 jobs created, 18.8 million square feet dedicated to gypsum boards, wall panels, and mass barrier ceiling, five million square feet of cinema carpet and 1,250 air handling units.
Access the Cinema Build KSA 2020 report here.