Cinema City signs lease for 21st multiplex in Romania (24 January 2008)
Cinema City International N.V. (“Cinema City”) will open a multiplex in the Romanian city of Suceava. It is Cinema City’s 21st project in Romania. Until the end of the year the Company plans to open 5-6 more multiplexes in this country.
“Suceava is a city of over 100,000 in the northern part of Romania,” said Moshe (Mooky) Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “We plan to open our cinema in a new shopping mall that is being built there. It will be the city’s first multiplex. The lease that has been signed is further evidence of implementation of our intensive growth plan for the Romanian market. Being the forth deal with IULIUS Group (following Iasi, Timisoara and Cluj) it clearly shows , as we said in the past, that one of our strong opportunities is our great relations with leading developers in the region.
The new multiplex will have 11 screens and over 1,500 seats. The opening is planned for the beginning of 2009
Romania is Cinema City’s sixth country of operations (after Poland, the Czech Republic, Hungary, Bulgaria and Israel). The company operates 62 multiplexes with a total of 534 screens.
In Romania Cinema City operates already 2 multiplexes (opened at the end of 2007 in Iasi and Timisoara). 19 more multiplexes are underway in this country. Until the end of the year the Company plans to open 5-6 more multiplexes, gaining a clear market leader position