US VR Global Inc CEO Mark Olivier Francq said the facility, to be called Hero Central Park, will mark the company’s first foray into the virtual reality theme park business. It will be located at Empire City, Damansara Shopping Mall.
“Hero Central Park will be the launchpad for our company to the emerging markets, especially in Asean, India and China,” he said at a press conference yesterday.
“The phenomenon of virtual reality and augmented reality technologies has spread to Asia and we find the potential growth in this South East Asian market particularly exhilarating.”
He also said the park, which will occupy 170,000 square feet of space, will be one of the largest VR parks in the world.
“VR technology has been out there for 20 years now, but in terms of a VR theme park of such a scale, we are one of the first to succeed in turning this into a reality,” he said.
“This will be our first park and we plan to build 20 more around Asia as well as 200 to 300 arcades within the next three to five years.”
Francq said a VR park could be built within six months, unlike conventional parks, which would typically take years to build.
“Our ability to fast-track the set-up process is extremely advantageous as we are targeting completed malls or about-to-complete malls to venture in,” he said.
“We can rapidly establish strong collaboration partnerships in terms of hardware and content from both international and domestic intellectual property owners.
“Also, compared to traditional theme parks, our ticketing price is so affordable it attracts all segments and will represent great value for money.”
US VR Global Inc founder and executive chairman Ramelle Ramli told the press conference the total cost of building the park would be RM100 million.
“We’re building it in two phases,” he said. “The first phase will cost RM70 million.”