Property developers scoop up privatised cinemas

Published on Wednesday, 20 February 2013 23:10

The booming real-estate sector in Myanmar has expanded to privatised cinemas, as many of them will be rebuilt as high-rise buildings housing mini theatres, chairman of the Myanmar Motion Picture Association said.

A total of 136 cinema theatres have become privatised and property developers bought several due to their strategic location.

“Most of the cinemas in Myanmar are now privatised and demand is one of the requirements to redevelop the film industry. Most cinemas that were privatised are not being rebuilt as cinema theatres only but as high-rise buildings with two or three mini theatres inside,” Zin Wine, chairman of Myanmar Motion Picture Association, said.

In response to a request from the association, the government has agreed not to auction off the remaining 27 state-owned cinemas, he said.

“If property developers were to build at least three or four cinemas that are really up to standard, we can meet the demand.”

Veteran actress Wah Wah Win Shwe, who won the bid for Hsu Htoo Pan Cinema, said that though she loves working in the film industry, it is impossible for her to oversee the whole cinema theatre. Therefore, she has decided to add a mini theatre to a high-rise building.

Shwe Mann Cinema, also privatised, will be rebuilt as a high-rise building in April.

Plans are also underway to rebuild Myoma and Shwegone cinemas on Bogyoke Aung San Road as high-rises.