Joint Venture Announced for Entertainment Giants Bahrain Cinema Company and Majid Al Futtaim Cinemas

Venture to expand the current 8,000 square metre cinema at Majid Al Futtaim’s City Centre Bahrain in Manama.

  
Joint Venture Announced for Entertainment Giants Bahrain Cinema Company and Majid Al Futtaim Cinemas
28 September 2016
Middle East's most innovative cinema exhibitors' join forces to operate entertainment Megaplex in City Centre Bahrain


Bahrain/Dubai - Bahrain Cinema Company (Cineco), market leaders in the entertainment industry in the Kingdom of Bahrain, and Majid Al Futtaim Cinemas, the dedicated cinema arm of Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, have announced a joint venture which will operate and expand the current 8,000 square metre cinema at Majid Al Futtaim’s City Centre Bahrain in Manama. The joint venture will be owned 50% by Bahrain Cinema Company and 50% by Majid Al Futtaim Cinema Bahrain and will be subject to a number of conditions, including the approval of the shareholders.

The Joint Venture partners are reviewing plans to upgrade and extend the cinema, with the new entertainment Megaplex expected to boast countless points of difference, including a large 4DX cinema, and the exclusive cinema dining experience ThEATre by Rhodes, the brainchild of Michelin Star celebrity chef Gary Rhodes and the first of its kind in Bahrain, along with countless other innovative movie experiences.

Speaking about the announcement; Mr Ahmed Rashed, Chief Executive Officer of Bahrain Cinema Company commented: “Since 2008 we have operated one of the highest performing cinemas in the world and are very excited to now partner with Majid Al Futtaim Cinemas to bring many additional benefits to our cinemagoers in the well-known City Centre Bahrain location.  We are confident that our new partnership will see the City Centre Bahrain location become one of the world’s most iconic entertainment destinations with the addition of new screens and countless new innovative and exclusive cinema experiences. Cineco has a history of pioneering new experiences in the Middle East, and we are delighted to work closely with Majid Al Futtaim on setting a new benchmark for entertainment for our guests”.

Discussing the Joint Venture partnership, Cameron Mitchell, CEO of Majid Al Futtaim – VOX Cinemas said: “Cineco has been a forerunner in the entertainment business in Qatar and Bahrain and is perfectly aligned with VOX Cinemas’ passion for innovation and entertainment excellence.  VOX Cinemas works tirelessly to meet our owner’s vision of ‘creating great moments for everyone every day’ and in partnership with Cineco we now have the opportunity to combine our expertise to continue creating memorable cinematic entertainment experiences for our customers in City Centre Bahrain.”

With 96 cinema screens in Qatar and Bahrain and almost 50 years’ experience, Bahrain Cinema Company has provided exceptional cinemas and experiences, offering the latest in technology and comfort to customers. Pairing this experience with Majid Al Futtaim Cinemas’ pioneering entertainment concepts, will see the VOX Cinemas brand operating 380 screens across eight countries before the end of 2017, doubling the company’s screen count in less than two years, and creating a world class chain of cinemas across the MENA region.

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Disclaimer: 
All facts and figures in this release are accurate at the time of issuance.

About Majid Al Futtaim Cinemas 
VOX Cinemas is the Middle East’s most innovative and customer-focused cinema exhibitor.  Owned and operated by Majid Al Futtaim Cinemas, VOX Cinemas is the cinema arm of Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa. With 26 cinema complexes totalling 223 screens across the region, including 161 screens in the UAE, 15 screens in Lebanon and 47 screens in Oman, VOX Cinemas is now the Middle East’s largest and most rapidly growing cinema exhibitor. 

The company is undergoing a 1 billion dirham investment that will see the company expand to operate 550 screens in the region by 2020. Tailoring every cinema location to the surrounding market place and customer preferences, VOX Cinemas offers a mix of cinema experiences including two luxury cinema concepts, the first one being VOX THEATRE by Rhodes which is a collaboration with Michelin Star Chef Gary Rhodes, and the second one being the much loved VOX GOLD luxury cinema experience. Taking the VOX MAX big screen cinema to the next level, VOX currently operates the Middle East’s largest cinema screen in the region at the Virgin Radio MAX screen in City Centre Deira in Dubai. VOX also has the very first and only IMAX with Laser screen in the Middle East, holds the Middle East’s exclusive rights to the immersive 4DX experience, and operates VOX KIDS, the very first cinema in the Middle East dedicated to kids having fun. VOX also recently introduced OUTDOOR, the first open air VOX Cinemas in the region located on Galleria Mall’s Rooftop in Dubai for the cooler months of the year.

www.voxcinemas.com

About Bahrain Cinema Company
Cineco Operations include the management of a large number of cinemas and restaurants within Bahrain and the G.C.C countries.

Cineco now owns and operates a total of 96 cinema screens in the Kingdom of Bahrain and Qatar.

Since its establishment in the Kingdom of Bahrain in 1968, Cineco succeeded over the years by pioneering many firsts, establishing benchmarks in Bahrain’s entertainment industry.

Cineco continues to strive towards maintaining sustainable growth through the philosophy of business excellence using the best model.

http://bahraincinema.com/

About Majid Al Futtaim 
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).

A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 14 international markets, employing more than 32,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.

Majid Al Futtaim owns and operates 19 shopping malls, 12 hotels and three mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. The Company holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, and with the Hyperstar brand in Pakistan, operates a portfolio of more than 160 outlets in 14 countries.

Majid Al Futtaim operates 183 VOX Cinema screens and 24 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. The Company is parent to the consumer finance company issuing 'Najm' and “Voyager” credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints and lululemon athletica, and a healthcare business that operates a network of City Centre Clinics. In addition, Majid Al Futtaim operates Enova, a facility management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.

www.majidalfuttaim.com

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Media Contact:
Weber Shandwick Dubai
Millie Roberts
Tel: 04 445 4217
E-mail: MAFCinemas@webershandwick.com

Distributed by prlinks on behalf of Bahrain Cinema Company 
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© Press Release 2016


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