Hong Kong’s Emperor Group confirms the opening of its first cinema in Central
Emperor Group, chaired by media magnate Albert Yeung Sau-shing, has confirmed its plan to open its first cinema in Hong Kong next year.
Through its subsidiary Emperor Motion Pictures, the entertainment conglomerate said it would lease a two-storey space, totalling 16,000 square feet, at Entertainment Building in Central, the central business district in Hong Kong.
“This is our first cinema in Hong Kong, comprising four to five houses,” Emperor said in the announcement released on Thursday evening, confirming a report by South China Morning Post on September 12.
Emperor Motion Pictures said it would spend HK$50 million to renovate the existing space into a cinema with high quality facilities. The space will also include fine dining restaurants. Emperor said it will have more cinemas in Hong Kong in future.
Emperor did not disclose the rent it will pay but property agents estimated the landlord would receive about HK$1.2 million a month.
The Entertainment Building is owned by a company that has Angela Leong, the fourth wife of casino tycoon Stanley Ho, as a major shareholder.
Founded in 2000, Emperor Motion Pictures is involved in movie production and distribution. It started operating cinemas in 2014. The group has five cinemas in mainland cities such as Shanghai, Hefei, Zhuhai and Foshan.
The planned new cinema on the third and fourth floors of the Entertainment Building will occupy space formerly rented by HMV Retail’s flagship store in the city,
HMV closed its Entertainment Building store in April with little fanfare, moving to a smaller shop a few blocks away at Manning House, also in Central. The relocation helped the DVD retailer slash its rent by 25 per cent to less than HK$1 million per month.