Xander-backed KidZania to invest $75m in India theme parks
An Indian franchisee of KidZania, a kids indoor theme park chain backed by Xander Group, is looking to open as many a five theme parks in the country, investing up to $75 million.
Imagination Edutainment India - which has just opened its first KidZania theme park in Mumbai - is a joint venture between Singapore-based KidZ Inc. and Bollywood actor Shah Rukh Khan. They own 74% and 26%, respectively. KidZ Inc. is owned by Xander Group, Comcraft Group and Maxfield Management.
"We are just closing the agreement for the second KidZania which will come in Delhi. Our immediate target is to have five KidZanias in India," Rohit George, a principal with Xander in India,told VC Circle.
Each KidZania theme park is built with an average investment of $10-15 million, putting the total cost of the five parks proposed at $50-75 million. It is not known how much of this financing will come from Xander.
KidZania parks feature a child-size replica of a real city where children can role play at various adult activities such as getting a job and opening a bank account. The business has two revenue streams: entrance fees and brand partnerships for sponsorship within the park attractions.
Xander typically focuses on real estate and infrastructure investments in emerging markets, however it also has a broader mandate for investing in companies in the hospitality, entertainment and retail sectors. The group has $2 billion assets under management globally and its portfolio comprises over 50 million square feet of real estate and infrastructure assets.
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