Global City Holdings
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15

Feb

New Cinema City project in Romania

“The potential of the Romanian market is so great that we are focusing our main investment activity there at this time,” said Nisan Cohen, Deputy CFO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “We opened our first two multiplexes in Romania at the end of last year. There are 20 more projects underway, 5 or 6 of which we plan to open by the end of this year. Implementation of our plans will assure us the position of the market leader. Romania may soon become our second-largest operating market, after Poland. The level of 0.2 cinema admissions per capita demonstrates what is the potential to grow in this country.”

 

The new Cinema City project will be opened in the city of Deva (in western Romania, with a population of about 80,000). The multiplex will have about 8 screens and seat approximately 1,400. It will be located in the European Retail Park shopping mall.

 

The lease for the cinema in Deva was signed with S.C. Belrom Patru SRL. It is Cinema City’s fourth joint project with this developer.

 

Romania is the sixth country where Cinema City has operations (after Poland, the Czech Republic, Hungary, Bulgaria and Israel). The company’s entire network includes 62 multiplexes with 538 screens.