Plans for Cardiff鈥檚 16,500 capacity indoor arena have reached a milestone as Cardiff Council, and the consortium comprised of Live Nation and Robertson Property today announced financial close on the project.
News of financial close is accompanied by the announcement of McLaren Construction as main contractor for the arena, with work starting immediately.
The cost of the project was estimated at 拢280m in March 2093, which allowing for inflation takes it past 拢300m at current prices.
Completion and opening is planned for 2028.
The arena is being built to draw major musical acts and performers to the Welsh capital.
Cardiff Council leader Huw Thomas said: 鈥淭his arena will transform Cardiff鈥檚 visitor economy in a way nothing has since the stadium opened in 1999. It鈥檚 not just about the bricks and mortar; it鈥檚 about underpinning and enhancing Cardiff鈥檚 status as a vibrant, dynamic destination for music and culture. The project will ensure that Cardiff continues to thrive as a hub of creativity and innovation. It is the cornerstone of our Music City strategy, which aims to support every part of Cardiff鈥檚 music ecosystem 鈥� from musicians to producers, promoters, and venues. But crucially, this project will drive economic growth and social value, particularly in the area surrounding the arena, creating jobs and lifting horizons in some of Wales鈥� most economically-challenged communities. It is for all these reasons that the Arena has been a priority for this Council administration for over a decade, and why I鈥檓 delighted that this decisive milestone has now been achieved.鈥�
Robertson Group chief executive Elliot Robertson said: "The Cardiff Arena marks a transformative moment for the city, bringing world-class live entertainment to the city while driving significant economic and social benefits. This project is more than just a venue; it鈥檚 a catalyst for growth, creating over a thousand jobs, boosting local businesses, and solidifying Cardiff鈥檚 position as a cultural and creative hub on the global stage.鈥�
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