Fakieh Leisure and Entertainment Group (Tarfeeh Fakieh), a provider of leisure and entertainment in Saudi Arabia, has signed an agreement with Jamjoom Production and Distribution to operate a cinema at the Jeddah Walk project. Tarfeeh Fakieh will invest in building the cinema as part of the Jeddah Walk project, with a cost of more than SR300 million ($80 million).
The signing ceremony was held in the presence of Jamil Attar, CEO of Tarfeeh Fakieh, and Waheed Jamjoom, CEO of Jamjoom Production and Distribution, the company that will manage and operate the cinema in cooperation with an international company.
According to the agreement, Tarfeeh Fakieh will construct a magnificently designed building on the corniche, along the Red Sea, as part of the Jeddah Walk project, to allow visitors to enjoy the latest movies using state-of-the-art audio-visual projectors. The project is part of Tarfeeh Fakieh’s investment contract with the Jeddah municipality.
Attar said: “Based on Tarfeeh Fakieh’s extensive experience in investing in the tourism and entertainment sectors and encouraged by our wise government’s support for these sectors, we are currently working to redevelop Al-Nawras Island. We aim to turn Al-Nawras into a distinct entertainment and tourism destination that contributes to achieving the objectives of Saudi Vision 2030 as well as its realization program, the Quality of Life Program 2020.”
Jamjoom said: “We take pride in our cooperation with Tarfeeh Fakieh, especially as the group has a wealth of experience in the entertainment and tourism sectors and is actively engaged in spreading joy and happiness among Jeddah’s residents and visitors. The Tarfeeh Fakieh investment initiative will contribute to the return of Jamjoom Cinema after more than 50 years. We will also benefit from our legacy in the cinema sector, as we were the first to open a modern and popular cinema in the Kingdom of Saudi Arabia in 1969.”
The new cinema will feature nine screens and have 837 seats besides a variety of restaurants. It will also have an upper terrace to enjoy views of the Red Sea and sunset.
The Jeddah municipality continues to develop the waterfront, and it is cooperating with Tarfeeh Fakieh to redevelop the Al-Nawras Island and transform it into a top recreational area and tourist attraction.
Jeddah Walk is a joint venture development project of restaurants and cafes including a multistory mall on Al-Tahlia Road. With a built-up area of 51,911 square meters, the project extends over two land plots with a total area of 15,375 square meters. The mall has expansive outdoor landscaped terraces offering ample opportunities for open-air dining and lounges.