15 Mar 2019

Dubai: Novo Cinemas Now Open at IMG Worlds of Adventure – New Sale Rumors about Indoor Theme Park Buzzing

SOURCE Novo Cinemas With a delay of almost two years, the Novo Cinemas multiplex cinema at the IMG Worlds of Adventure theme park in Dubai (see EAP, issue 1/2017), equipped with 12 screens and 2,100 seats, was recently opened to visitors. Described as the flagship location of the regional cinema chain, the facility features Dubai’s largest IMAX® laser cinema, three VIP rooms and a private lounge with a special fine-dining menu and personal butler service. There are also facilities for corporate events and meetings. The Novo cinema is located in the same building as the indoor theme park and is entered with a separate ticket.

After it became known about a year ago that the owners and operators of the indoor theme park opened in Dubai’s desert in 2016, the Ilyas & Mustafa Galadari Group (IMG Group), were in talks with banks on the restructuring of a 1.2 billion dirham (approx. 326.7 million US dollars) syndicated loan and the upsizing of its existing loan facility due to cost overruns, sales rumors are now circulating again. According to Bloomberg, the operators are exploring different options at the moment, including a possible sale of the facility. The park management does not confirm any discussions around the same. (eap)