The Abraaj Group (“Abraaj” or the “Group”), a leading investor operating in growth markets, announced today it has invested through its Fund, in Cinepax Limited (“Cinepax” or the “Company”), Pakistan’s leading cinema operator.
Arif Baig Mohamed and Pir Saad Ahsanuddin established Cinepax in 2006 and launched their
first multiplex in 2007. Since then, the Company has established itself as the market leader and
today has 29 screens in 12 locations. With Abraaj’s investment, Cinepax plans to develop 80
new screens across multiple locations over the next four years and also grow other
entertainment related ventures.
Pakistan’s entertainment industry has significant growth potential, underpinned by strong
demographic drivers, positive changes in regulatory frameworks, and a growing number of malls
that can support cinema multiplexes. In addition, the current low ratio of cinema screens (0.5
per million-population) and the opportunity to revitalize the local film industry represent a
compelling investment rationale.
Abraaj will support the Company in establishing international standard multiplex cinemas in new
and upcoming locales. The Group places a high priority on environmental, social and
governance considerations and will actively assist with job creation and training of multiplex
staff, as well as strengthening governance and operational efficiencies to achieve best-in- class
operating standards.
Commenting on the transaction, Omar Lodhi, Partner for Asia at The Abraaj Group, said: “Our
investment into Cinepax demonstrates our faith in the opportunity that Pakistan’s young growing
population and expanding middle class represents. This group is increasingly seeking improved
entertainment options, which Cinepax is ideally positioned to provide. As one of the most active
investors in Pakistan, with a strong on-the- ground presence, we see a long-term market
opportunity in the cinema operator and video streaming business. Cinepax’s founders Arif Baig
Mohamed and Pir Saad Ahsanuddin reflect Pakistan’s vibrant entrepreneurship ecosystem,
having helped grow the cinema sector in the country. We look forward to partnering with
Cinepax’s management team in enabling the Company to reach a wider audience.”
Arif Baig Mohamed, Chairman of the Board of Cinepax, added: “Since our company was
founded 10 years ago, we have grown to 29 screens in 12 locations, and continue to see an
opportunity to further expand our footprint in not only our core cinema exhibition business, but
also new related opportunities, including the digital video space. We are also committed to
supporting local talent and the film making industry. The Abraaj Group holds an impressive track
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