|Artwork by Tarek Chemaly|
There are two sources:
One that says they are two different entities, and that the Egypt born architect Bahjat Abdelnour called it so because it resembled the Egyptian Opera house.
The second says:
That whereas this was indeed an opera house during the French mandate, it became a cinema at a later stage.
To add more to the confusion, it seems the owner of the building wants to open an opera house there...