BRUSSELS — International exhib Kinepolis is set to invest €13.8 million ($16.1 million) in a 15-screen multiplex in southern Spain, according to William Devidts, the head of the company’s Spanish operations.
Move confirms company’s recently stated intention to focus on core markets. New site, which will have 4,500 seats and create 95 jobs, will be in Pulianas in the province of Granada.
Devidts added that building work would begin this month to prepare for opening in May 2004. The cinema, due to have 3,000 parking spaces, will be on the second floor of a 29,000 square meter building that also has a shopping and leisure area.
Kinepolis already has two cinemas in Spain, one with 24 screens and 8,200 seats in Paterna in eastern Spain (opened May 2001) and another with 25 screens and 9,200 seats in Madrid (opened September 1998). Former had two million visitors in 2002, latter had 3.6 million.
Exhib has a total of 331 screens and 95,000 seats in six European countries. However, Kinepolis recently said it was getting out of Italy, Poland and Switzerland to concentrate on key markets of Belgium, where it is based, France and Spain.