By Team Homes | Monday, 16 September 2024

South Indian Cities holds huge number of Amusement Centers! Spans over 2.3million sqft

India currently boasts around 6.6 million square feet of operational indoor amusement centers across over 500 locations in 83 cities, in this Bengalutu tops the list. According to a JLL report, this segment is projected to grow by 67%, reaching 11 million square feet by the end of 2028.

Regionally, most indoor amusement centers in India are concentrated in South India, with Bengaluru, Hyderabad, and Chennai leading the way. According to the report, Bengaluru has 0.6 million square feet of space, Hyderabad has 0.58 million square feet, and Chennai has 0.31 million square feet.

According to the report, the majority of the IACs in India are located in South India, primarily in Bengaluru, Hyderabad and Chennai. the report expressed that, nearly 0.6 mn sq ft of space is present in Bengaluru, 0.58 mn sq ft in Hyderabad and 0.31 mn sq ft in Chennai. IACs are known for large format gaming zones located in shopping centres. 

 

The report also highlighted, “Western part of the country ranks third, with Mumbai Metropolitan Region (MMR) and Pune leading the pack at 0.66 mn sq ft and 0.34 mn sq ft respectively.”

In India, there are presently 523 locations across 83 cities offering a total of 6.6 million square feet of operational indoor amusement center (IAC) space. The majority of the IACs (35%) can be found in South India, while North and West follow closely behind with their respective shares being at 31% and 25%.

According to the statement, Tier 1 cities hold a majority of 57% in IAC stock. Among these cities, Delhi NCR is leading with a total area of 0.90 million square feet spread over 68 centers.

The growth of the entertainment sector in India can be attributed to both the experience economy and demographic dividend. According to a JLL report titled ‘Game on! Entertainment as the new frontier in Indian retail’, indoor amusement centers (IACs) have become significant players driving footfall and consumer engagement, marking a notable shift in India's retail landscape. The report will be presented during the MAPIC India event from September 18-19, 2024 (formerly IRF).

Chief Economist and Head of Research and REIS, India, JLL Samantak Das mentioned, “Tier I cities are the leaders in both number and stock of IACs, driven by a confluence of factors including heightened consumer demand, greater spending ability, and an increasing appetite for experiential offerings. These cities account for 57% of IAC stock (3.75 million sq ft), with Delhi NCR leading at 0.90 million square feet across 68 centers."

He also added, “There is a significant change underway as Tier II and III cities experience increased demand for amusement centers. Operators are taking advantage of this trend by constructing large-scale facilities in these emerging markets due to favorable real estate prices and abundant land availability. Currently, operational IACs in Tier II and III cities encompass 2.8 million sq ft.”

According to the report, by the end of 2024, 0.61 million square feet of new indoor amusement centers which already have leased places will be operational.

The senior MD and Head - Retail Services and Office Leasing Advisory, India, Rahul Arora  expressed his optimistic thought, and said, “It is interesting to see that emerging formats such as entertainment, competitive socializing, and edutainment are also gaining traction apart from the growing stock of gaming arcades and trampoline parks. We foresee an addition of over 3.5 - 4.2 million square feet of new entertainment centers in the next four years, taking the total IAC stock to over 11 million square feet.”

The report depicted that, Indoor Amusement Centers (IACs) are undergoing a transformation by offering vast spaces and diversifying entertainment options for individuals of all ages. India's retail sector is witnessing a shift towards malls becoming social hubs and recreational destinations. This trend towards diverse experiences is likely to encourage an increase in standalone indoor amusement centers across the country that provide multiple concepts of entertainment under one roof.