Cinepax to invest $10m to build two multiplex cinemas

[LahoreEstate]

Saturday, June 27, 2009
Islamabad

Cinepax, the first nationally branded chain of multiplex cinemas in Pakistan, after attaining a major market in Rawalpindi, has signed an Agreement with City District Government Karachi to open 2 multiplex cinemas on different locations in Karachi.

Cinepax, with the support and collaboration of CDGK plans to invest $10m to construct 2 multiplex cinemas, one at Kashmir Road and another at Safari Park, each with 5-7 screens, food courts, gaming and other entertainment areas filled with sporting activities.

“This is a big achievement for us, as Karachi was once the centre of Pakistani film industry, with a host of cinemas, and watching movies at the cinema, was a popular entertainment

and recreational activity for families in Karachi,” said Arif

Baig Mohamed, Chairman of Cinepax.

“Our appreciation goes out to the Naib Nazim Nasreen Jalil who played a pivotal role in this initiative. We are planning to invest $10m in this project, with the aim to bring back the cinema culture again, by providing a world-class theatre experience for the families,” he added.

Mustafa Kamal, the City Nazim Karachi said, “I express my sincere gratitude to Cinepax management and extend a warm welcome to them in Karachi. We look forward to the provision of world-class cinema experience to the public. The additional benefits and prospects of this venture include the creation of hundreds of jobs for the people of Karachi.”

The construction of these facilities will start from 3rd Quarter of 2009 for Kashmir Road and Safari Park subsequently .The cinemas will be equipped with state-of-the-art facilities, designed according to the award-winning standards for showcasing hundreds of block buster movies to the customers.

“Our operational site in Jinnah Park, Rawalpindi has witnessed unprecedented enthusiasm by the citizens of the twin cities. We would like to bring in much better level of entertainment feature for the Karachiites and make Cinepax a landmark for the citizens to appreciate,” said Danny Sidhwa, Chief Executive Officer-Cinepax.

http://www.thenews.com.pk/daily_detail.asp?id=185255