Cinema City and AFI Europe signed preliminary binding lease agreements for cinema space in two shopping malls in Romania
Cinema City International and AFI Europe have signed preliminary binding long-term lease agreements for space in the shopping center AFI Palace B.NOI. to be developed in Bucharest and in the shopping center AFI Palace Ploiesti, which is currently under construction in Ploiesti. The new Cinema City in Bucharest will be Company’s third multiplex in the capital city and its opening is scheduled for the 4th quarter 2014. The future multiplex in Ploiesti will the second Cinema City in town and the Company plans to open this cinema in the 4th quarter 2013.
“We continue our strategic focus on developing the countrywide cinema chain in Romania, where the cinema going statistics indicate a great need for a modern multiplex infrastructure and where we keep on opening our cinemas since 2007” said Moshe (Mooky) Greidinger CEO of Cinema City International “We are proud to go hand in hand with AFI Europe on our expansion path in Romania. Our first common project in Romania, Cinema City Cotroceni in Bucharest opened in 2009, is the largest megaplex in the country and became a showcase of the highest standard of cinema in a prime shopping center.”
Cinema City operations in Romania comprise operating a chain of 14 cinemas with 134 screens including the large 3D IMAX theatre in Cinema City Cotroceni in Bucharest, cinema advertising run by New Age Media Romania and film distribution run by Forum Film Romania. In Romania Cinema City is implementing its most intensive program of organic growth. The Company opened its first cinemas in the country in December 2007 and since then follows up with development of the cinema circuit. The Company has currently signed over 20 binding lease agreements for over 230 screens.
INEMA CITY INTERNATIONAL (Cinema City) is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 99 multiplexes with 966 screens, in 7 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria, Slovakia and Israel). There are 34 more multiplexes under development, which will offer over 360 new screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
In 2012 Cinema City sold 36.3 million tickets in 7 countries, 2.5% more compared to 2011.
The Cinema City group employs over 4,000 people in 7 countries.
For more information, please contact:
Director of Investor Relations,CinemaCityInternational
tel. (+48) 22 566 69 60 / mobile: (+48) 510 024 028
tel. (+48) 22 826 74 18 / mobile : (+48) 500 202 355