As developers recognize the importance of IACs in attracting visitors and boosting overall retail performance, the entertainment category is increasingly being integrated into initial mall design phases.
Recent leasing activity has been strong, with 1.43 million square feet of space leased by Indoor Amusement Centers (IACs) operators in the last 20 months. Delhi NCR secured the largest share of this new leasing at over 0.3 million square feet. Bengaluru stood second with a total of 0.23 million square feet of space take-up.
By the end of 2024, 0.61 million square feet of new Indoor Amusement Centers, which have already leased spaces, are expected to become operational. It is interesting to see those emerging formats such as eatertainment, 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 Indoor Amusement Centers (IACs) stock to over 11 million square feet.
