April 19, 2018 / 12:32 PM / 5 months ago

Dubai's Majid Al Futtaim awarded Saudi cinema licence

RIYADH, April 19 (Reuters) - Vox Cinemas, owned by Dubai’s Majid Al Futtaim, has received a licence to operate cinemas in Saudi Arabia and will open a four-screen multiplex theatre in Riyadh in the “coming days”, the company said on Thursday.

Vox is investing 2 billion riyals ($533 million) to open 600 screens in the next five years in the conservative Muslim kingdom, which lifted a nearly 40-year ban on commercial cinemas last year as part of broad social and economic reforms.

$1 = 3.7502 riyals Reporting by Stephen Kalin; editing by Jason Neely

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