Universal Studios Eyes India for the first time with a huge entertainment park in this city: Report

Global studios may soon bring the entertainment empire to India. The global theme park operator is conducting advanced discussions with Bharti Real Estate to create the first internal park in India, according to a report issued by The Economic Times.

The place is expected to be in the Bharti Mall 3 million square feet near the Delhi Airport, which is expected to open by mid -2017.

Among the total development, 300,000 square feet were allocated, or about 10 % of the developed space, for the global entertainment, as confirmed by Bharti Real Estate. While Sayal did not call the Universal Studios directly, it has admitted that discussions with potential international partners are ongoing. Universal Studios did not respond to a request for comment.

The commercial center, which is part of the 17 million square feet Aerocity development, aims to be the largest in India. The project, which was fully operating, is expected to be born more than 5,000 rupees of annual rental revenues, and 6.5 million square feet of development is already conducted with investments exceeding 6,595 rupees.

In the event of this, the Universal Studios facility will represent an important moment for the internal entertainment sector in India, which currently extends 6.6 million square feet across 523 operating sites, according to JLL. This number is expected to grow to 11 million square feet by 2028, driven by great coordination retail expansion and retail.

The internal entertainment space in India is still fragmented, as unorganized home operators dominate the scene. International brands like Timezone, FunCity and Funtura currently have about 28 % of the market share. Most centers focus on gaming areas, although trampoline gardens and experimental formats are high.

Universal Studios, who runs the entertainment gardens in the United States, Singapore, Japan and Beijing, is looking forward to global expansion for a long time.