Mukta Arts’ international arm inks agreement to operate cinemas in Saudi Arabia

Mukta Arts Ltd’s international subsidiary Mukta A2 Multiplex WLL has entered into an agreement with Al-Othaim Investment Company to operate cinemas across the Kingdom of Saudi Arabia.

"Three cheers to Parvez Farooqui and Rahul Puri and team of Mukta Arts Ltd and Mukta A2 Cinemas to ESTABLISH, OPERATE CINEMAS IN SAUDI ARABIA IN PARTNERSHIP WITH AL-OTHAIM GROUP. A great step to the growth of Mukta A2 Cinemas. My best wishes and blessings to entire team for expanding big screen entertainment internationally too. Kudos!!" said Subhash Ghai (Executive Chairman, Mukta Arts Ltd).

Rahul Puri, Managing Director, Mukta Arts Ltd said, "We are excited to add our experience and ethos in providing world-class entertainment to the region, to follow-up the stellar success we have found in Bahrain. We are deeply committed to this project and are humbled by the faith shown in us. We look forward to the partnership and value it brings."

"Strategically positioned within Saudi Arabia, the key focal points for expansion lie in the burgeoning Tier-2 and 3 cities, which are experiencing dynamic growth as part of the Vision 2030 initiative. Mukta, while not currently engaged in direct investment, has strategically positioned itself through contractual agreements solely focused on providing management and operations services," he added.

Akshay Bajaj, COO – ME – Mukta A2 Cinemas added, "We look forward to the synergies of our partnership with the Al-Othaim group and to provide movie-goers unrivalled experiences, as Saudi Arabia increases its ever-growing cultural and entertainment offerings."

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