Swicorp, the fund manager of Swicorp Wabel, has announced the opening of a nine-screen AMC Cinema in the capital city of Saudi Arabia, in another of its REIT’s properties, Al Makan Mall, Riyadh.
This is the second AMC Cinema to open at a Swicorp property this month, following the opening of AMC Hafr Al Batin, the first of its kind in the area.
The opening of AMC Al Khair 9 in Al Makan Mall Riyadh yesterday was attended by various government officials, guests of honour and members of AMC’s executive team.
The Riyadh location is operated by AMC Cinemas, the largest cinema chain in the world and the company behind many industry altering initiatives.
Swicorp Wabel REIT, which is listed on the Saudi Stock Exchange (Tadawul), is planning to open two more locations with AMC Cinemas in the cities of Dawadmi and Tabouk.
Hammad Mughal, head of asset management at Swicorp, said the new opening will satisfy the “ample demand” for cinema entertainment in the Kingdom.
He added: “Our second AMC Cinema location features modern facilities that our guests demand and deserve. Movie-going is an emerging trend in Saudi Arabia and one that is here to stay. It is offering consumers an additional reason to spend time at our malls and is opening huge growth opportunities for investors.”
AMC Al Khair 9 will debut Prime at AMC, a premium large format (PLF) experience, massive screens, 4K Barco laser projectors, immersive sound and recliner seating throughout.