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Economy

Coming soon to Saudi malls -- Wanda controlled cinemas

End of 35-year ban could be worth $24bn and AMC swoops in for the opening act

A billboard featuring Hollywood star John Travolta is displayed in Riyadh.   © Reuters

DUBAI, United Arab Emirates -- Saudi citizens will soon be able to go to the movies without crossing a national border, as Crown Prince Mohammed bin Salman shakes up the kingdom's economy and society. And the end of a 35-year ban on cinemas has already produced a high-powered partnership: between U.S.-based, Chinese-owned theater chain AMC Entertainment Holdings and a sovereign wealth fund Riyadh wants to develop into the world's largest.

By 2030, the Saudi government anticipates there will be 200 movie theaters in the country, with 2,000 screens; the first could open this March. Today, there are no commercial cinemas in the kingdom.

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