The Kuwait National Cinema Company and leading Middle East distributor Front Row Filmed Entertainment 's exhibition arm, Cinescape Cinemas, are in final negotiations to launch a first phase of multiplexes in Saudi Arabia by the 4th quarter of this year. The plans come as the kingdom has lifted a decades-long ban on public movie houses, and as players vie for rights to expand into the potentially lucrative market. KNCC and Cinescape are eyeing 27 screens across strategic locations in the three most prominent Saudi cities of Riyadh, Jeddah and Dammam. Saudi's General Commission for Audiovisual Media is currently mapping out the rules and regulations for reopening cinemas. Others planning to move into the kingdom include Vue International and AMC Entertainment Holdings. KNCC is also in deep negotiations with high profile real estate entities to secure additional multiplexes as well as stand-alone cinemas across the country. The company expects to open a total of 12 multiplexes in the next 36-month period. This is all in accordance with Crown Prince Mohammad bin Salman Al-Saud's Vision 2030 program which includes vast plans for the media and entertainment space as he moves to diversify the economy and reduce the kingdom's dependence on oil. Kuwait… Read full this story
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