Sim Leisure Group URR will be bringing back KidZania Singapore to Singapore on Sentosa Island.
KidZania is a brand that originated in Mexico and has an international franchise with 26 facilities in 22 countries around the world, including Malaysia.
The group, on June 9, secured the agreement of Sentosa Development Corporation to lease 31 Beach View, #01-01/02, which is where KidZania was formerly at.
The indoor family attraction announced that it would be closing its doors for good in June 2020, during the Covid-19 pandemic. At the time, KidZania had been in Sentosa for around four years, after opening in April 2016 on Sentosa Island.
The group also had purchased all the non-movable assets, fittings and fixtures at the KidZania Singapore facility from Rakan Riang Pte. Ltd. for $110,000. The purchase will be undertaken by Sim Leisure Group’s newly-incorporated wholly-owned subsidiary, Kids Edutainment and funded internally.
Rakan Riang Pte. Ltd. was the former licensee of the KidZania concept in Singapore.
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In addition, the group has also been granted the relevant permissions and written consent to use the KidZania intellectual property as well as any other proprietary elements in the KidZania Singapore facility from KidZania de Mexico S.A. de C.V in August 2022.
The exclusive license to operate KidZania in Singapore has been obtained as well.
The premises has a built-up area of around 7,521.97 sqm (80,965.81 sq ft). The agreement includes a primary tenancy term of five years with an option to renew for another further five years. The rent payable is calculated on the higher of either a fixed sum monthly base rent or an agreed percentage share of the monthly gross revenue of KidZania Singapore facility. The tenancy term is expected to commence on Feb 1, 2024.
Kids Edutainment will take possession of the facility on July 31. It is granted a fitting-out period of six months starting from Aug 1. The projected capital expenditure will cost around $3 million. The amount will include contributions from third-party sponsors participating in the facility.
Sim Leisure Group says the purchase for KidZania’s assets is in line with its growth plan to capitalise on its established track record of marketing, operating and managing theme parks and to expand into new geographical locations. It is also an extension and advancement of the existing partnership for the business under the KidZania concept via its 80%-owned subsidiary, Rakan Riang Sdn Bhd. Rakan Riang Sdn Bhd is the exclusive licensee to operate the KidZania concept in Malaysia.
Barring any unforeseen circumstances, KidZania Singapore is expected to open in the first quarter of 2024.
“Personally I love this KidZania concept created by Xavier Lopez. It’s simply awesome, especially in this part of the world where parents are obsessed with their children’s future success. This opportunity of taking over KidZania Singapore was never something I could imagine being part of. I am very confident with our 30-year track record, starting from scratch to become one of the leading attractions businesses in the world, and our time-proven management approach, KidZania Singapore will be a runaway success. This time I will make sure KidZania Singapore is here to stay,” says Dato’ Sim Choo Kheng, founder and chairman of Sim Leisure Group.
"The perceptive guests of today are beyond inquisitive, and encouraging curiosity especially among the young ones is key as they discover new ways of thinking through play. Sentosa Development Corporation is pleased to welcome Sim Leisure Group to bring the innovative KidZania experience back to the island, with a renewed focus on inculcating a deeper understanding of sustainability and future-readiness. As Sentosa continues to refresh our offerings, we are confident that KidZania Singapore will be an integral part in our revitalisation of Palawan Beach and its vicinity into a compelling family-centric precinct, alongside upcoming offerings such as The Palawan @ Sentosa,” says Thien Kwee Eng, CEO of Sentosa Development Corporation.
“In collaboration with Sim Leisure and Sentosa Development Corporation, we’re excited for the reopening of KidZania Singapore! As the world grapples with the challenges of the twenty-first century, Singapore has long been a centre for education and innovation, and we’re eager to make an effect on a whole new generation. KidZania has always been committed to encouraging kids to dream big and achieve their goals. In addition to helping kids realize their aspirations and pursue their passions, our mission is to help them develop a solid foundation of values and lifelong skills. We are eager to welcome visitors back to KidZania Singapore and empower them to make the world a better world,” says Xavier López Ancona, founder, president and CEO of KidZania.
As at 10am, shares in Sim Leisure Group are trading flat at 28.5 cents.
