Al Futtaim Group of Companies from the United Arab Emirates plans to open new cinemas.
Conglomerate Al Futtaim and PVR Limited have signed an agreement that opens up opportunities for the development of the film business in the Middle East and North Africa region.
As part of a joint venture, a network of experimental film formats will appear in the region, including the luxurious PVR's Director's Cut format.
"We see great potential in the cinema business in the region, and especially in Saudi Arabia, in view of the government’s decision to resume the film industry," said Marwan Shehade, director of corporate development at Al Futtaim.
“PVR is an ideal partner for Al Futtaim, given his 20 years of experience in managing and creating experimental movie formats,” he added.
He said several points have already been outlined for future movie theaters, including the Dubai Festival City and the Festival Plaza in Dubai.
