Cinema City – lease for 20th multiplex in Romania
“We are continuing the intensive investment process in Romania,” said Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “It is a market with great growth prospects, and thanks to agreements we have signed to open multiplexes in the shopping malls rapidly going up there, we have already secured the position of market leader. We plan to sign further leases for cinema space on the Romanian market, and in the next coming days we plan to open our first cinema in the country.”
The long-term lease, regarding a new project in Bucharest (for 10 years with an option to extend the lease three times for a further 5 years each time) was concluded by a Romanian subsidiary of Cinema City with the company S.C. Bel Rom Noua Srl.
The multiplex is expected to open in the 1st quarter of 2010, in the Colentina shopping mall in Bucharest. A 12-screen cinema is planned, with about 2,400 seats.