“The cinema sector in Saudi Arabia will see significant growth, especially with GCAM’s continuous efforts to facilitate and promote national and foreign investment to enter the sector,” said Alzahrani, who will be the keynote speaker at the Cinema Build KSA Forum to be organized in Riyadh on April 14-15.
He said GCAM’s emphasis is on providing various entertainment opportunities for everyone, which will enhance and contribute to diversifying the economy.
With a population of more than 32 million, and a majority of whom are under the age of 30, Saudis spend about $30 billion annually on tourism and entertainment outside the Kingdom, which makes the move to allow movie theaters open a domestic market expected to be worth up to $1bn in annual box-office sales by 2030.
The Kingdom is set to have nearly 350 cinemas. With more than 2,500 screens which they project will create more than 30,000 jobs.
Organized by Eyes of Cities in collaboration with Great Minds Event Management Cinema Build KSA forum will represent a specialized event bringing together the key stakeholders across the design, construction & technology sectors to discuss the latest trends & techniques of building world-class cinemas in the Kingdom of Saudi Arabia.
The event will also reveal a wide range of new building solutions and equipment used in developing future Cinemas, Multiplexes, and Malls to serve as a key contributor to the industry.