Magazine article Screen International

Lippo Group to Invest $516M in Cinemas

Magazine article Screen International

Lippo Group to Invest $516M in Cinemas

Article excerpt

Indonesia's Lippo Group has announced plans to invest $516m (6 trillion rupiahs) in 300 multiplexes across the country over the next ten years.

The first cinema to open under Lippo's Cinemaxx brand will be a 15-screen complex in the Palembang Icon shopping centre, in Palembang, South Sumatra, in September this year.

"Palembang Icon is the first location ready to operate a cineplex and the market there is huge," Cinemaxx head of marketing Infany Suryadji told local paper the Jakarta Globe.

Infany said the company would also open multiplexes in Manado (North Sulawesi), Medan (North Sumatra), Ponorogo (East Java) and Jakarta throughout the rest of the year. Lippo aims to have 2,000 screens operating across 85 cities within ten years. …

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