Dubai-based Majid Al Futtaim is continuing with its expansion plans despite lacklustre H1 revenues as a result of the pandemic.
The group recently reported a 3 per cent decrease in H1 revenue at 17.3 billion dirhams ($4.71 billion).
A push head could be good news for the design and fit-out industry, as it includes opening a clutch of new cinemas. Majid Al Futtaim – Ventures will launch 55 VOX Cinemas screens in the second half of 2020.
The exact location of the new venues hasn't been reported.
In Dubai, fit-out firm Havelock One Interiors has so far completed six cinemas under the VOX Cinemas brand across the GCC, with a seventh due to complete.
This included the fit-out of one of the largest cinema complexes in the region at the extension of The Galleria, Al Maryah Island, Abu Dhabi. Comprising 21 screens with a total seating capacity of 1,785 seats, the project also boasted Abu Dhabi’s first laser IMAX auditorium, which seats 450 guests.
Design agency Keane is also working on a project for Vox Cinemas at Wafi Mall.
“The pandemic has undoubtedly affected us all. Over the years, we have built and maintained a sustainable and diversified business ready to withstand the headwinds in our industries," Alain Bejjani, CEO of Majid Al Futtaim - Holding, said.
“While the timeline for a full-scale recovery is still uncertain, we are witnessing a slow reopening of the economy. We will do our part to rebuild consumer trust that is so crucial to revitalising the economy. To achieve this, we must adapt to changing consumer needs and continue to ensure the highest standards of health and safety, while doubling down on our efforts to strengthen the industries and markets in which we operate.
Cinemas in the UAE have recently re-opened with social distancing measures in place, after being closed for most of Q1 due to the global pandemic.