Emperor Group, chaired by media lord Albert Yeung Sau-shing, has reliable a devise to open a initial cinema in Hong Kong subsequent year.
Through a auxiliary Emperor Motion Pictures, a party firm pronounced it would franchise a two-storey space, totalling 16,000 block feet, during Entertainment Building in Central, a executive business district in Hong Kong.
“This is a initial cinema in Hong Kong, comprising 4 to 5 houses,” Emperor pronounced in a proclamation expelled on Thursday evening, confirming a news by South China Morning Post on Sep 12.
Emperor Motion Pictures pronounced it would spend HK$50 million to reconstruct a existent space into a cinema with high peculiarity facilities. The space will also embody excellent dining restaurants. Emperor pronounced it will have some-more cinemas in Hong Kong in future.
Emperor did not divulge a lease it will compensate though skill agents estimated a landlord would accept about HK$1.2 million a month.
The Entertainment Building is owned by a association that has Angela Leong, a fourth mother of casino aristocrat Stanley Ho, as a vital shareholder.
Founded in 2000, Emperor Motion Pictures is concerned in film prolongation and distribution. It started handling cinemas in 2014. The organisation has 5 cinemas in mainland cities such as Shanghai, Hefei, Zhuhai and Foshan.
The designed new cinema on a third and fourth floors of a Entertainment Building will occupy space before rented by HMV Retail’s flagship store in a city,
HMV sealed a Entertainment Building store in Apr with small fanfare, relocating to a smaller emporium a few blocks divided during Manning House, also in Central. The relocation helped a DVD tradesman condense a lease by 25 per cent to reduction than HK$1 million per month.