iPic Entertainment sees significant expansion opportunities in kingdom following lifting of cinema ban
iPic Entertainment, the US-based luxury restaurant and theatre brand, has announced the signing of an agreement to develop cinemas in Saudi Arabia.
iPic said in a statement that it has formed a partnership with BAS Global Investments Company following Saudi Arabia's decision to lift a decades-old ban on cinemas in the Gulf kingdom.
With roughly two-thirds of the local population under 30 years of age, iPic said it believes there are significant expansion opportunities in the country.
“We are thrilled to be working with BAS Global which we believe will be excellent local partners to lead growth of the iPic brand throughout the Kingdom of Saudi Arabia,” said Hamid Hashemi, founder and CEO of iPic Entertainment.
“We are excited to bring our first-class entertainment experience to the region and be a part of the country’s Saudi Vision 2030 Plan which focuses on job creation and transforming the economy toward more recreation and tourism spending.”
iPic combines casual restaurants and luxury theatre auditoriums with gourmet, in-theatre dining.
The company currently operates three restaurant concepts – The Tuck Room, Tanzy, and City Perch – with one planned to be included at each location in Saudi Arabia.
The locations will also feature iPic’s patent pending viewing Pods and Chaise Lounge seating, the statement added.
iPic auditoriums seat 50 to 90 people and will be equipped with 4K digital cinema technology.
The company did not say when it plans to open its first cinema or give more details about planned locations in the kingdom.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.