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Last Updated : Jul 10, 2018 07:56 PM IST | Source: Moneycontrol.com

PVR signs MoU with Dubai's Al-Futtaim to develop cinema biz in MENA region

The joint venture will introduce a collection of unique experiential cinema formats to the region including PVR Director’s Cut.

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PVR is now looking at operations in the Middle East and North Africa (MENA) region. The film exhibition company has signed a memorandum of understanding with Dubai-based group Al-Futtaim to explore opportunities for jointly developing a cinema business in the region.

The joint venture will introduce a collection of unique experiential cinema formats to the region including PVR Director’s Cut, a format that blends the best in high-end hospitality and entertainment.

“We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at Al-Futtaim.

“To begin with, we have already identified locations in Al-Futtaim real estate developments such as Dubai Festival City and Festival Plaza in Dubai and are in discussion with landlords to secure other locations in Dubai and the Kingdom of Saudi Arabia,” Shehadeh added.
First Published on Jul 10, 2018 07:56 pm
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