S�O PAULO, BRAZIL (Top40 Charts) It was announced today by São Paulo Mayor Ricardo Nunes that the city will be welcoming a new 20,000 capacity arena, developed through the partnership of Live Nation Entertainment, the world's leading live entertainment company; Oak View Group (OVG), the global venue development, advisory, and investment company for the sports and live entertainment industries; and GL events, a world-class provider of integrated solutions and services for events, who was awarded a 30-year lease by the City of São Paulo for the Anhembi campus (4 million square feet). The state-of-the-art ARENA SÃO PAULO will host live events including concerts, sports games, family entertainment, and more, and will be located within São Paulo's premier entertainment destination, the ANHEMBI DISTRICT, which is already well-known for hosting the Carnival parade, among other events.
As part of the development agreement, Anhembi will emerge as São Paulo's newest district, revitalizing the fabric of the surrounding community. The ARENA SÃO PAULO announcement marks the beginning of the re-development of the whole ANHEMBI DISTRICT, which will include a large program of real estate investments. Anhembi will be transformed into a global benchmark for events, featuring the indoor arena, a cultural boulevard, an exhibition center, and São Paulo's first next-generation international convention center. The agreement marks the most significant step towards the modernization of the complex in its 50-year history. As a result of the redevelopment, the complex will generate cash flows of approximately 5 billion of Brazilian Reais of economic benefit for the city and local businesses and become one of the main engines to increase the São Paulo economy.
At the same time, this development creates a historic opportunity for São Paulo, the 4th largest city in the world and the wealthiest economy in Latin America, to continue maximizing its prominence as one of the world's top destinations for concerts, sports, e-sports, family events, exhibitions, and conventions.
"Today is a historic day for our city because we are starting the implementation of the
Arena São Paulo, a project leaded by the three best companies in the world in their industry. We are going to build the best arena in Latin America. It will be a major achievement for the city of São Paulo and for the world", said the mayor of São Paulo, Ricardo Nunes.
In addition to developing the venue, Live Nation and Oak View Group will be the operators of the facility and will oversee event bookings. Live Nation is focused on featuring both international and domestic artists at the city's future premier large entertainment venue, ARENA SÃO PAULO. Live Nation has an important presence in Brazil hosting major festivals such as Lollapalooza and Rock in Rio, while also promoting local and international tours.
"As the leader in live, we're excited to be expanding our footprint in Latin
America by creating a world-class arena in São Paulo. This new venue will add to our portfolio of 200+ venues worldwide and we are proud to contribute to the growth of São Paulo as a live music hub and international touring destination," said Michael Rapino, president and CEO, Live Nation Entertainment.
The
Arena is designed by the world-renowned architectural firm Gensler, is expected to break ground in 2022 and open in 2024. Using international benchmarks from arenas developed by Oak View Group in Seattle, New York, California, and Manchester, UK, SÃO PAULO ARENA will contain innovative features including environmental sustainability programs, VIP seating, hospitality lounges, diverse food & beverage offerings, and premium acoustic technology.
Tim Leiweke, CEO of OVG commented, "We're honored to include São Paulo in our global portfolio of entertainment destinations and look forward to working with GL events and Live Nation Entertainment to transform ANHEMBI DISTRICT into the largest entertainment destination in Latin America."
"GL events is a leading global player and Brazil's largest operator in the events sector. We are excited to partner with OVG and Live Nation Entertainment, two global entertainment leaders to invest in ARENA SÃO PAULO. Entertainment is a major component of ANHEMBI DISTRICT. We look forward to capturing synergies between ARENA SÃO PAULO and our network of venues, including Rio de Janeiro's Jeunesse Arena." said Olivier Ginon, founder and chairman of GL events.
