Mukta Arts Ltd. Partners with Al-Othaim Investment Company to Expand Cinema Operations in Saudi Arabia
Mukta Arts Ltd., the film production company headed by filmmaker Subhash Ghai, has announced a strategic partnership with Al-Othaim Investment Company to establish and operate cinemas across the Kingdom of Saudi Arabia. The collaboration will be facilitated through Mukta Arts’ subsidiary, Mukta A2 Multiplex W.L.L. based in Bahrain.
By joining forces, Mukta Arts and Al-Othaim aim to leverage their respective strengths and create a successful presence in the Saudi Arabian cinema market. Mukta Arts brings its expertise in the movie exhibition business, while Al-Othaim possesses a strong real estate footprint in the region. This collaboration reflects the two companies’ shared vision of delivering world-class entertainment experiences to audiences in 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, the Managing Director of Mukta Arts Ltd., expressed enthusiasm for the partnership, emphasizing their commitment to the project and their eagerness to contribute their knowledge and experience to expand the fledgling exhibition market in Saudi Arabia. Puri also highlighted that their strategic focus will be on the thriving tier-two and three cities in the country, which are currently experiencing rapid growth.
In line with their expansion plans, Mukta Arts Ltd. is already heavily involved in the cinema exhibition business. Through its subsidiaries, including Mukta A2 Cinemas Ltd. and Mukta A2 Multiplex WLL, the company currently operates over 100 screens and joint ventures in various locations.
The partnership between Mukta Arts Ltd. and Al-Othaim Investment Company reaffirms the growing interest of Indian cinema businesses in the Middle Eastern market. This move follows a similar agreement signed by PVR Cinemas with Al-Futtaim from the UAE in 2018.
Mukta A2 Cinemas Chief Operating Officer, Akshay Bajaj, expressed excitement about the collaboration and emphasized the commitment to offering unrivaled experiences to movie-goers in Saudi Arabia. As the country continues to enhance its cultural and entertainment offerings, this partnership is poised to contribute significantly to the evolving landscape.
FAQ
1. What is Mukta Arts’ partnership with Al-Othaim Investment Company?
Mukta Arts Ltd., led by filmmaker Subhash Ghai, has partnered with Al-Othaim Investment Company to establish and operate cinemas in Saudi Arabia.
2. What are the key focal points for expansion in Saudi Arabia?
Mukta Arts Ltd. plans to focus on the tier-two and three cities in Saudi Arabia, which are currently experiencing dynamic growth.
3. How many screens does Mukta Arts currently operate?
Mukta Arts Ltd. currently controls over 100 screens through its subsidiary, Mukta A2 Cinemas Ltd., and its joint ventures.
4. Are there other Indian cinema businesses expanding into the Middle East market?
Yes, PVR Cinemas also signed a deal with Al-Futtaim from the United Arab Emirates in 2018 to expand into the Middle East market.
Source : Gillett News
By joining forces, Mukta Arts and Al-Othaim aim to leverage their respective strengths and create a successful presence in the Saudi Arabian cinema market. Mukta Arts brings its expertise in the movie exhibition business, while Al-Othaim possesses a strong real estate footprint in the region. This collaboration reflects the two companies’ shared vision of delivering world-class entertainment experiences to audiences in 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, the Managing Director of Mukta Arts Ltd., expressed enthusiasm for the partnership, emphasizing their commitment to the project and their eagerness to contribute their knowledge and experience to expand the fledgling exhibition market in Saudi Arabia. Puri also highlighted that their strategic focus will be on the thriving tier-two and three cities in the country, which are currently experiencing rapid growth.
In line with their expansion plans, Mukta Arts Ltd. is already heavily involved in the cinema exhibition business. Through its subsidiaries, including Mukta A2 Cinemas Ltd. and Mukta A2 Multiplex WLL, the company currently operates over 100 screens and joint ventures in various locations.
The partnership between Mukta Arts Ltd. and Al-Othaim Investment Company reaffirms the growing interest of Indian cinema businesses in the Middle Eastern market. This move follows a similar agreement signed by PVR Cinemas with Al-Futtaim from the UAE in 2018.
Mukta A2 Cinemas Chief Operating Officer, Akshay Bajaj, expressed excitement about the collaboration and emphasized the commitment to offering unrivaled experiences to movie-goers in Saudi Arabia. As the country continues to enhance its cultural and entertainment offerings, this partnership is poised to contribute significantly to the evolving landscape.
FAQ
1. What is Mukta Arts’ partnership with Al-Othaim Investment Company?
Mukta Arts Ltd., led by filmmaker Subhash Ghai, has partnered with Al-Othaim Investment Company to establish and operate cinemas in Saudi Arabia.
2. What are the key focal points for expansion in Saudi Arabia?
Mukta Arts Ltd. plans to focus on the tier-two and three cities in Saudi Arabia, which are currently experiencing dynamic growth.
3. How many screens does Mukta Arts currently operate?
Mukta Arts Ltd. currently controls over 100 screens through its subsidiary, Mukta A2 Cinemas Ltd., and its joint ventures.
4. Are there other Indian cinema businesses expanding into the Middle East market?
Yes, PVR Cinemas also signed a deal with Al-Futtaim from the United Arab Emirates in 2018 to expand into the Middle East market.
Source : Gillett News