Vietnam based developer Hoang Anh Gia Lai and Local Royal Ace Mega, the digital cinema chains have signed lease agreement to develop multi-screens cinema complex at Phase 2 of HAGL project on July 17. According to the agreement, HAGL and Royal Ace Mega will develop the multi-screens cinema complex, under the recognized name “Mega Ace” cinema which comprised 6 screens, one VIP lounge, one Premier Class Hall, and food concession with international standard on net leasable area of 2581.60 square metre.
The Managing Director of HAGL Myanmar, Cao Duy Thinh and the Executive Director of Royal Ace Mega, Moe Nway Oo signed the agreement on behalf of respective parties. Cao Duy Thinh, Managing Director of HAGL Myanmar, said “Signing this agreement is part of HAGL’s objective to bring perfect convenience and benefits to the residents and visitors of the project in the near future.” He added “We have been trying to add more values to Phase 2 in the long run. We have also decided to adjust scope of business for phase 2 by converting about 3,000 square metre of office space into commercial centre with entertainment functions”.
Moe Nway Oo, the Executive Director of Royal Ace Mega, said “Starting from 1st quarter of year 2015, Mega Ace Cineplex kicked off to refurbish old standalone cinemas and ventured into shopping malls for multiplex cinemas in 2016. The opening of upcoming new cinemas aimed to deliver audiences an exceptional movie experience, improve the standard of Myanmar cinema sector as well as the lifting the lifestyle of people from Myanmar cinema sector.”
It is scheduled to open in 2019.
