Cinépolis to invest $300m for local cinema expansion

Cinépolis Cinemas’ colorful junior auditorium is an ideal destination for a family movie night, with a range of seating options and play facilities for children.
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Updated 13 January 2021
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Cinépolis to invest $300m for local cinema expansion

Global movie theater chain Cinépolis Cinemas recently opened two new cinemas in the Kingdom, in Jeddah’s Al-Jamea Plaza and Dammam’s Lulu Mall. The Mexican movie exhibitor, the first in Latin America and the third largest globally, has announced an investment of $300 million in Saudi Arabia over the next five years, to expand in the country in partnership with Al-Hokair Group and regional partner Al-Tayer Group.

The expansion of Cinépolis into the Saudi market will help boost the economy through the creation of jobs and recreational spend, and is in line with the objectives of the Kingdom’s Vision 2030, which aims at diversifying the economy by leveraging non-oil sectors and promoting culture and entertainment.

Alejandro Aguilera, CEO of Cinépolis Gulf, said the launch of Cinépolis Cinemas in Saudi Arabia reflects the new entertainment strategy of the Kingdom. He said the company plans to launch 200 new screens by 2023, in addition to recruiting more Saudi nationals in the entertainment sector.

“Cinépolis is proud to be contributing to the Kingdom’s Vision 2030 by providing moviegoers with unrivaled experiences as Saudi Arabia increases its culture and entertainment offerings. Cinépolis looks forward to offering fun, innovative and stellar services to its customers as well as to enrich the entertainment options throughout the Kingdom,” he added. 

The opening of both cinemas coincides with the launch of Cinépolis’ new website and mobile application, Cinépolis Gulf, available for both Android and iOS users. The user-friendly platforms enable guests to not only book the latest movies in advance but also to purchase their movie snacks online, facilitating a contactless experience with a reduced waiting time.

Cinépolis Cinemas offers guests reclining leather seats with full optimal viewing angles between the rows. The engrossing view of the screen is complemented with immersive audiovisual technologies to create a unique movie experience.

In addition, the colorful junior auditorium is an ideal destination for a family movie night, with a range of seating options and play facilities for children, including bean-bag seating, a large slide, a ball pit, and a private party room.

Guests can enjoy a range of premium and delicious movie treats from a carefully curated menu. 

Apart from the all-time classics like popcorn, nachos, and hotdogs, Cinépolis Cinemas also offers a selection of gourmet items, such as dynamite shrimp, edamame, chicken tikka paninis, and sweet crêpes. 

Visitors can also enjoy hot drinks prepared by in-house baristas.


Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation

Saeed Assiri, chief innovation banking officer at SAB
Updated 42 sec ago
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Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation

Saudi Awwal Bank has become the first bank in the Middle East to receive a 7‑star Certified Innovative Organization rating from the Global Innovation Institute, the highest recognition awarded by the institute.

The accreditation marks a significant step in SAB’s innovation strategy and follows an innovation maturity assessment conducted by the institute in December 2025. The review, which built on an earlier assessment in December 2023, raised the bank’s maturity level from “Champion” to “Leader.” The new rating reflects SAB’s institutionalized approach to innovation, its enterprise-wide impact and its ability to consistently deliver measurable results.

With the 7‑star rating, SAB becomes the first bank in the region to reach the highest innovation maturity level, strengthening its position as a regional reference point for innovation-led and future-ready banking.

In 2025, the bank opened its flagship Innovation Centre and secured six internationally recognized innovation awards, along with a lab accreditation. The centre has supported SAB’s efforts to accelerate the adoption of advanced technologies, encourage cross-functional collaboration and reinforce its standing as a regional leader in financial innovation.

Saeed Assiri, chief innovation banking officer at SAB, said the recognition reflects years of focused work to build a sustainable innovation ecosystem.

“By investing in SAB’s culture, governance and talent, innovation enables the bank to remain future-ready,” he said. “This milestone reinforces our role in accelerating financial innovation in Saudi Arabia and delivering long-term value for our customers.”

The certification adds to SAB’s broader efforts to strengthen its innovation capabilities as the Kingdom’s banking sector continues to evolve.