Netherlands-based exhibitor Cine Grand is collaborating with Beijing-based Time Antaeus Group to build cinemas in the mainland China market.
Cine Grand group chairman Nirmal Anand said the company plans to open more than 500 screens in China over the next three years. The company currently operates two multiplexes in China – one of which is a 15-screen property in Dongguan.
“We believe the cinema exhibition business in China is expected to grow at a rapid rate and we intend to be part of this growth and reach the leading position,” said Anand.
“This collaboration with Time Antaeus Group will help us utilise each other’s strengths. Common sourcing of cinema equipment and other services will also help lower the overall fit out costs.”
Time Antaeus vice president Xu Xiaoping said the collaboration would bring a more international aspect to the company’s cinema circuit.
Time Antaeus is one of China’s leading exhibitors and is also been involved in production, co-financing Chinese films such as Wilson Yip’s Ip Man, and distribution of Chinese and foreign films.