IMAX (IMAX) has signed an agreement with Sailun Real Estate Development Company to install an IMAX MPX theatre system in a new commercial retail and entertainment development in Kunming.
There are currently six IMAX theatres open in China, with nineteen more scheduled to open by 2008.
The deal reflects the continued interest in the IMAX theatre business from a wide range of businesses in China, including commercial theatre-chains, institutions and property developers.
The number of IMAX theatres operating in China, IMAX's fastest-growing and second-largest market, is scheduled to grow to nearly five times its current size in the next three years.
When IMAX established its Asian headquarters in Shanghai in June 2002, there were three IMAX theatres open in the country, with two more in development. The introduction of the IMAX MPX theatre system and the strong worldwide performance of Hollywood blockbusters in IMAX's format helped fuel rapid expansion of the IMAX theatre network in international markets, including China.
Expected to open December of 2008, the IMAX theatre will be the anchor attraction in the Kunming Shuncheng Mall, which will also include entertainment, leisure, restaurant, retail and other businesses.