Bucharest to build sports arena “like no other” but opposition question €138mn price tag

Bucharest to build sports arena “like no other” but opposition question €138mn price tag
/ PMB.ro
By bne IntelliNews March 12, 2019

Bucharest mayor Gabriela Firea announced that the city council endorsed the development of a 20,000-seat sports arena estimated to cost around €138mn.

Firea claimed that the project's cost should not be compared with those of similar projects in Romania since the Bucharest sports arena will be like no other: it will be certified to host almost any sports competition. 

And yet, critics compared the estimated cost of the project with that of a smaller arena (10,000 seats) developed in Cluj-Napoca. Liberal member of the city council Ciprian Ciucu argued that the Cluj-Napoca sports arena required an investment of only €17mn, one-eighth of the cost estimated by Bucharest municipality.

The entity authoring the project raised more question marks. The Company for Sustainable Development, one of the 22 municipal companies that were dismantled by a court order, had developed the project. The new arena would allow Bucharest to host international competitions and would help promote the city, according to the project drafted by the Company for Sustainable Development.

The municipality plans to complete the project in three years.

The new polyvalent hall will be close to the Lia Manoliu sports complex and the National Arena, in the eastern part of Bucharest.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Moldova’s largest lender maib puts Bucharest exchange listing on hold

The largest bank in Moldova, Moldova Agroind Bank (main), announced it is postponing its plan to list on the Bucharest Stock Exchange (BVB) because certain provisions in Moldovan legislation make the ... more

Romania’s leading financial group Banca Transilvania reportedly takes over BRD Pensii

Banca Transilvania, the leading financial group in Romania by assets, has reportedly reached the stage of agreeing technical and legal details for the takeover of BRD Pensii division from BRD-SocGen, ... more

Romania’s leading lender Banca Transilvania takes over OTP Bank’s subsidiary

Romania’s largest financial group by assets, Banca Transilvania (BVB: TLV), announced that it had signed a contract ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    4 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    4 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    18 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    28 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss