Edwynn Olaes, a projectionist at Meydan Imax Theatre, prepares the reel of 70mm film for Batman: The Dark Knight Rises, which weighs 245kg. Full story on b5 Razan Alzayani / The National
Edwynn Olaes, a projectionist at Meydan Imax Theatre, prepares the reel of 70mm film for Batman: The Dark Knight Rises, which weighs 245kg. Full story on b5 Razan Alzayani / The National

Imax pictures rapid growth across Middle East



Canada's Imax Corporation is projecting big growth in big-screen cinemas in the Middle East, with talks under way to open more in the region.

Imax movies are shot using 70 mm film - twice as wide as that used in ordinary cameras - and can be projected on to especially large screens. Lengthy sections of the new Batman blockbuster The Dark Knight Rises were made using the format.

Globally, more than 660 theatres have Imax screens but these include just 11 in the Middle East - far fewer than in North America, Europe or China.

Andrew Cripps, the executive vice president of the Imax Corporation, said talks were under way with theatres to open more big screens here.

"Imax sees an increasing opportunity in the Middle East region over the next several years, particularly in areas such as the UAE, Egypt and Morocco," he said.

"We are evaluating opportunities in most major markets in the region ... we are in talks and have received inquiries from a number of operators in areas such as Dubai, Jordan, Kuwait and Iraq," he added.

The UAE, Kuwait, Turkey and Israel each have two Imax theatres, while there are single screens in Egypt, Qatar and Saudi Arabia.

Two more Imax cinemas are set to open in Egypt, along with another in Israel and one in Azerbaijan, the Canadian company said.

Mr Cripps attributed the opportunity in the Middle East to a higher disposable income and the development of shopping malls and entertainment complexes.

"The Middle East ... has a rapidly growing film market with a diverse audience and demographic," he said. "The Imax theatres in the GCC countries have had a tremendous year and are up dramatically year over year ... we believe our business is very much in the growth mode at the moment in this region."

The Meydan Imax Theatre in Dubai, which opened this year, is the UAE's second big-screen cinema.

Goulam Raza Amarsy, the chief executive of the Dubai film theatre, acknowledged Imax "hasn't really taken off" in the Middle East and India yet.

But he said there was great potential in those markets.

"In the Indian subcontinent there are talks now about using the Imax camera to do Bollywood films," said Mr Amarsy.

He said he was negotiating with the Dubai Ministry of Education to approve the cinema for school visits. "We would like to set a challenge whereby every school child in Dubai comes to the Meydan Imax at least once in this school year."

Sections of the movie Mission: Impossible - Ghost Protocol, which was partly shot in Dubai, were filmed in Imax format.

Mr Amarsy said he was looking for investors to back a US$10 million (Dh36.7m) 3D Imax film about Dubai, which - if it gets made - he said would be the first entire film to be shot in the format in the UAE.

Cinema revenues are on the rise in the UAE, where the box office drew in Dh231m in the first six months of this year.

That compares with Dh212m takings during the same period last year, according to figures by Empire International Gulf.

Mr Cripps said the overall movie theatre sector was growing in the Middle East.

"The cinema market is maturing and is very diverse, with Arabic films and Bollywood films playing a major role in the box office takings along with Hollywood blockbusters," he said.

If you go...

Flying
There is no simple way to get to Punta Arenas from the UAE, with flights from Dubai and Abu Dhabi requiring at least two connections to reach this part of Patagonia. Flights start from about Dh6,250.

Touring
Chile Nativo offers the amended Los Dientes trek with expert guides and porters who are met in Puerto Williams on Isla Navarino. The trip starts and ends in Punta Arenas and lasts for six days in total. Prices start from Dh8,795.

What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

COMPANY%20PROFILE
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MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

Full Party in the Park line-up

2pm – Andreah

3pm – Supernovas

4.30pm – The Boxtones

5.30pm – Lighthouse Family

7pm – Step On DJs

8pm – Richard Ashcroft

9.30pm – Chris Wright

10pm – Fatboy Slim

11pm – Hollaphonic

 

Profile Idealz

Company: Idealz

Founded: January 2018

Based: Dubai

Sector: E-commerce

Size: (employees): 22

Investors: Co-founders and Venture Partners (9 per cent)

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

The biog

Marital status: Separated with two young daughters

Education: Master's degree from American Univeristy of Cairo

Favourite book: That Is How They Defeat Despair by Salwa Aladian

Favourite Motto: Their happiness is your happiness

Goal: For Nefsy to become his legacy long after he is gon

The specs: 2019 Subaru Forester

Price, base: Dh105,900 (Premium); Dh115,900 (Sport)

Engine: 2.5-litre four-cylinder

Transmission: Continuously variable transmission

Power: 182hp @ 5,800rpm

Torque: 239Nm @ 4,400rpm

Fuel economy, combined: 8.1L / 100km (estimated)

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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'Top Gun: Maverick'

Rating: 4/5

 

Directed by: Joseph Kosinski

 

Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris