Dubai – Mubasher: Majid Al Futtaim Group seeks through “Vox Cinema” to take a key role in Saudi vision for recreation sector, company CEO Alain Bejjani said on Wednesday.
The UAE-based conglomerate will announce important plans for investing in the Kingdom later, Bejjani added.
The Middle East operator of French retailer Carrefour focuses its expansions into the retail sector in the GCC and the MENA, especially in Saudi Arabia, Egypt, and the UAE.
The top official noted that Majid Al Futtaim Group acquired Retail Arabia in the UAE, expanded in Egypt and Saudi Arabia, in addition to its business in Lebanon, Oman, and Bahrain.
In December 2017, the Saudi General Commission for Audiovisual Media approved issuing licences for the investors who will open cinemas.
In September, the Kingdom injected SAR 10 billion ($2.7 billion) to establish recreation and entertainment firm, as well as the Public Investment Fund (PIF) revealed its plans to build a company for investing in amenities across the country.
