For an experience in a water park of international standards, now one wouldn’t have to travel abroad as Adlabs Imagica, the flagship venture of Adlabs Entertainment Limited (AEL) is soon launching its water park- ‘Aquamagica’. Following the success of Adlabs Imagica, AEL has gone ahead to launch its water park adjacent to it.
The hotel and the water park will be adjacent to the Adlabs Imagica theme park located on Mumbai-Pune Expressway. Since, the second half of the year i.e. from October to April is when most customers visit Adlabs, the management has decided to go ahead with the launch of Aquamagica in August 2014.
The water park is being developed on an area of around 20 acres with a separate entrance. Adlabs will be setting up a hotel inside the park comprising of 281 rooms and MICE facilities such as a large banquet hall and conference rooms suitable for hosting business and corporate events. The first phase of the hotel will be launched only by December and the next phase in another six months.
Adlabs Entertainment Limited had outlined Rs 1,650 crores for the project, including the theme park, the water park and the hotel. Of this, about 80-85% has already been spent on developing the project. According to Adlabs Entertainment director and CEO Kapil Bagla, the fund was raised by debt through a consortium of 13 banks led by Union Bank.
Till now, Adlabs Imagica has received over 2.2 lakh school children from 550 schools across various cities in India and the park has also crossed its one million mark.