The Saudi Ministry of Culture and Information has signed an agreement with AMC, a US-based movie theater chain, to open around 40 cinemas in 15 cities in Saudi Arabia over the next five years.
The license, the first of its kind, will allow one of the world’s largest film companies, to operate cinemas in the Kingdom, Arab News reported.
Under the license, AMC plans to open its first new movie theater in the Saudi capital of Riyadh on April 18.
The cinemas will not require men and women to sit separately, a source told Reuters on Wednesday.
In November 2017, AMC signed a memorandum of understanding with the Public Investment Fund to discuss potential trade cooperation opportunities.
Last December, the Ministry of Culture and Information announced that commercial cinemas would be allowed to operate in the Kingdom starting from 2018, for the first time in more than 35 years.
Saudi Arabia, with a population of 32 million, mostly under the age of 30, is expected to be the region’s largest market for movie theaters. Some 350 cinemas with more than 2,500 screens will be opened by 2030.
Published on 5 April 2018