The Spanish company, Minomo, intends to invest about $250 million in the Saudi market, through a joint venture with a local company, said Felix Belbas, the company's CEO.

The Spanish company specialized in the film industry, which participated in the production of many international films such as “The Dark Knight”, “Avatar”, “The Mission”, “Doom” and “Harry Potter”, is about to open a regional headquarters for the Middle East in the Saudi capital, Riyadh. To work on creating content and training Saudi cadres in the field of film production and creativity.

Felix indicated that "our partnership with the Saudi company, Next Level, provides for the opening of a regional headquarters in Riyadh and the localization of the film content industry, as well as the adoption of the initiative to train Saudi cadres and empower them globally," in light of the Saudi government's direction to strengthen the content industry and the film industry.

Local industry with international standards

Filmmaking and screening in the Kingdom, which began during the past two years after Saudi Arabia approved the opening of cinemas in 2018, is a modern industry and is supported by the Saudi General Culture Authority, which launched a number of programs and initiatives to support Saudi filmmakers, the cinema sector and film production in the Kingdom, in addition to filmmakers International films, studios and international production companies, which are looking to the different regions of the Kingdom as new locations for filming. Note that one of the most prominent initiatives of the General Authority for Culture in this field is a support program to recover 35% of the expenses for all films that are filmed in Saudi Arabia.

About the date of the start of the Spanish company's business in Riyadh, Felix announced that it will start its activities in early 2022, as it will provide production, logistical and advisory services for the implementation of cinematic works. It will also focus on visual effects and the manufacture of long and short films, in addition to television production and commercial advertisements.

He added that choosing the Saudi capital as a regional headquarters comes as a result of the increase in the pace of film production in the Kingdom, the stimulation of the alcoholic industry in accordance with international standards, and the opening of advanced cinemas. Noting that Minomo will start its work in its office in Riyadh, with a human cadre of about 45 employees.