Partners agree plan to open more cinemas in Kingdom

People are seen at Riyadh Park mall during the opening of a cinema on April 30, 2018. (REUTERS file photo)
Updated 01 February 2019
0

Partners agree plan to open more cinemas in Kingdom

  • SEVEN group has commttted to develop and operate 50 movie theaters throughout the Kingdom

JEDDAH: A partnership agreement to open more cinemas in Saudi Arabia has been signed by business chiefs.

Abdullah bin Nasser Al-Dawoud, chairman of the Saudi Entertainment Ventures Co. (SEVEN), and Fouad Al-Rashed, CEO of Asala Holding Co., on Thursday put pen to paper on a deal to establish new AMC cinemas in several Saudi cities.

The agreement is part of SEVEN’s strategy to develop and operate 50 movie theaters throughout the Kingdom over the coming years.

SEVEN, a unit of the Kingdom’s Public Investment Fund (PIF), aims to drive the Saudi entertainment industry forward through its other strategic sectors, particularly leisure parks.

Real estate firm Hamat Property Co., the operating arm of Asala Holding Co., specializes in the ownership, development and management of shopping centers and commercial properties. The company’s portfolio includes 25 operating shopping malls in the Kingdom.

SEVEN recently announced the launch of its first family-friendly entertainment complex, in Riyadh. 

 


Islamic, European officials plan support for Sudan

Updated 19 July 2019
0

Islamic, European officials plan support for Sudan

JEDDAH: Support for Sudan in the wake of a new deal on civilian rule was among items discussed during a meeting between leading Islamic and European officials in Saudi Arabia.
The secretary-general of the Organization of Islamic Cooperation (OIC), Dr. Yousef Al-Othaimeen, received Finnish foreign minister, Pekka Haavisto, in Jeddah. Finland currently holds the rotational presidency of the Council of the EU.
Al-Othaimeen and Haavisto had a constructive exchange of views on common issues with particular focus on Sudan after civilian and military leaders signed an agreement aimed at installing a civilian administration.
The deal came after three months of deadlock since Omar Bashir was deposed as president, and the two officials discussed ways to back Khartoum in its transitional phase.
The secretary-general commended the role of Finland and the EU in promoting peace, security, stability and development in different parts of the world and expressed the OIC’s readiness to engage in issues of mutual interest.
Haavisto praised the role of the OIC in promoting the culture of peace, dialogue and understanding, noting the organization’s vast experience in leading peace building initiatives among its member states in collaboration with other partners.