Imax Corporation, the entertainment technology company known for its network of giant cinema screens, is planning to invest between $10 to $25 million (AED36.7 to AED91.2 million) in the Middle East region in the next three years, according to a report from Gulf News.
The company’s CEO, Richard Gelfond, told the paper that his company planned to increase the number of IMAX theatres in the region from fifteen to thirty.
“By 2017, we would double our presence in the region and have about thirty theatres. It is a huge market,” Gelfond said.
Gelfond, who was speaking at Abu Dhabi Media Summit, said that the plans include opening theatres in Abu Dhabi and in Bahrain, Qatar, Oman, Lebanon, Jordan and Kuwait.