Emaar Malls Group forms JV with Cathay to develop multi-screen cineplexes across the region
Emaar Malls Group LLC, a wholly owned subsidiary of Emaar Properties PJSC has signed a joint venture deal with Cathay Organisation, the Singapore-based premier entertainment provider to form Reel Entertainment LLC. To be based in Dubai, Reel Entertainment LLC will develop and manage all the cineplexes in the shopping malls that Emaar Malls Group plans to develop in the emerging markets of the Middle East, North Africa and the Indian Subcontinent. Initially, Reel Entertainment will open two cineplexes in Dubai within the next year, at The Dubai Mall and the Dubai Marina Mall.
Mr Rashid Zakaria Doleh, Chief Executive Officer, Emaar Malls Group LLC, and Ms Choo Meileen, Executive Director, Cathay Organisation, signed the joint venture agreement in Dubai. Emaar Malls will have 75 per cent stake in Reel Entertainment LLC with the rest to be owned by Cathay Organisation.
Reel Entertainment will open the largest cinema complex in Dubai at The Dubai Mall, one of the world’s largest shopping and entertainment destinations. The ‘megaplex’ will be Dubai’s largest cinema with 22-screens and have a total of about 3,000 seats. Covering an area of 110,000 sq ft, the megaplex at The Dubai Mall will feature four VIP halls, one Premier hall, an Arthouse hall and 16 regular halls. The largest, the Premier hall, is ideal for special events and can seat up to 350 persons. Regular halls can seat anywhere from 70 to 250.
“Reel Entertainment will redefine the cinematic experience in our shopping malls by employing the latest in digital audio-visual technology and offering superior service standards including online ticket booking facilities, automated kiosks and box-office counters located throughout our malls,” said Mr Doleh. “Cathay Organisation is a leading movie entertainment provider in Asia, and the operational expertise they bring will be a valuable asset to our expanding portfolio of international projects. Our initial projects, the megaplex at The Dubai Mall and the cineplex at the Dubai Marina Mall will bring world-class cinematic and entertainment option to the residents of Dubai.”
Cathay Organisation’s longstanding and reputable history in the movie entertainment industry will enable Emaar Malls, through Reel Entertainment to create the entertainment platform across the region and confidently deliver and manage world-class cinemas in our shopping malls. Ms Meileen said: “We are delighted to be the first Singapore exhibitor to go beyond the shores of South East Asia. It is very exciting to enter a new market. We are looking forward to a wonderful partnership with Emaar and it is indeed a privilege to be working with them. We are pleased to be able to showcase what we are best known for; a cinematic experience that would be memorable and distinctively different.”
The Dubai Mall, the flagship project for Emaar Malls Group is a 12.1 million shopper’s paradise that will feature 1,200 specialty stores in distinct retail category precincts. It is ideally located in the prestigious Downtown Burj Dubai development, which is also the site for the Burj Dubai tower, the tallest building in the world. The 22-screen megaplex and The Dubai Mall will open late 2008.
The Dubai Marina Mall will be the shopping and entertainment hub for the residents of the master planned Dubai Marina community, and features an eclectic retail mix across 160 specialty stores. A key highlight is the 7-storey Gourmet Tower, dedicated to world cuisine in addition to the range of waterfront dining options lining the mall’s promenade. The eight-screen cineplex and the Dubai Marina Mall will open late 2008.