Kanyon Renanim Invests 12 Million NIS in New Cinema Complex
Kanyon Renanim in Ra'anana is investing 12 million NIS in 10 new Movieland cinema halls following increased competition from the newly opened Big Glilot commercial complex.
The opening of the Big Glilot complex has intensified competition among shopping malls in Israel's central region, forcing established centers to reinvent themselves by adding leisure, sports, and entertainment attractions.
The Renanim Mall Expansion
Kanyon Renanim in Ra'anana has announced an investment of 12 million NIS to construct 10 intimate boutique cinema halls spanning 2,500 square meters. The project is being carried out in partnership with the Movieland cinema chain on the former site of a Home Center branch. Six of the halls will feature fully adjustable reclining seats, while others will include sofa seating, a dedicated children and family hall, and a specialized venue for theatrical performances, shows, and conferences. Furthermore, the development features a self-service culinary lounge with unlimited beverage refills and an extensive bar. This initiative comes on the heels of the recent launch of 12 padel courts covering 6,000 square meters on the mall's roof.
"Shopping malls today are required to redefine their role and provide the public with a comprehensive response combining shopping, culinary arts, sports, and culture. This requires expanding leisure areas in the mall, such as the padel courts on the roof, and now the new cinema halls designed to position the mall as an active lifestyle center throughout the day," said Dror Okashi, CEO of Kanyon Renanim.
Market Shifts and Competitive Pressure
Until a decade ago, cinemas were common features in shopping centers, including Kanyon Shivat HaKohavim in Herzliya and Kanyon Renanim, before they were closed down due to the rise of home streaming and cable television. However, the launch of Big Glilot temporarily impacted the performance of surrounding malls, accelerating a shift away from traditional fashion retail toward comprehensive entertainment destinations.
Yaniv Harush, CEO of Movieland, noted that audience expectations have evolved significantly. "People today are looking for a complete experience and added value beyond just watching a movie. This concept translates into urban, intimate cinemas in lifestyle centers that offer high comfort, advanced technology, and tailored activities for diverse audiences, including senior citizens," Harush stated. Ra'anana Mayor Chaim Broyda welcomed the project, emphasizing that the new cinema complex aligns with the municipality's policy of mixed-use business, education, culture, and leisure developments.
