Imax Inks Deal With China Resources Land For 14 Theaters

Imax and Wanying Cinema Line, the subsidiary of state-owned commercial developer China Resources Land, have struck a deal for 14 new IMAX venues.

The theaters are expected to open between 2018 and 2021 and the deal brings Imax’s contracted theaters in China to 900. IMAX’s laser projection systems will be installed in Mixcine-branded multiplexes within China Resources Land’s shopping centers in major cities.

“We are pleased to build on this new partnership with China Resources Land, China’s most influential integrated urban developer and operator, that will leverage our premium brand and The Imax Experience as the anchor attraction for its luxury shopping complexes,” said Imax CEO Richard L. Gelfond.

“Imax is now more entrenched than ever in the fabric of China’s cinema industry as we continue to expand our network through forging partnerships with the nation’s leading developers, exhibitors and studios and by presenting a growing number of Chinese blockbusters. These factors, coupled with today’s agreement, reinforce our confidence in the China market and the growth opportunities that lie ahead to bring consumers a premium experience.”

“Over the years, we’ve witnessed the success of Imax to drive foot traffic to multiplexes in many of our luxury malls across China. When we launched our own cinema business earlier this year, we immediately knew that Imax would serve as our flagship entertainment attraction at our new cinema complexes as well as the luxury shopping centers where they will be located. To date, we have been impressed by the performance of our first Imax theatre in Shenzhen,” said Linkang Yu, Vice President who is responsible for Commercial Real Estate, China Resources Land Limited.