AEG Deal for Brazillian Venue is First in South America

17 Jun

A rendering for Brazil's Pernambuco Stadium, one of 12 sites to host the 2014 FIFA World Cup

Pernambuco Stadium, São Lourenço da Mata, Brazil

Operator: AEG Facilities

Owner: State of Pernambuco

Comments: AEG Facilities has signed its first agreement on the South American continent, signing a management agreement for the $106 million, state-owned Pernambuco Stadium in São Lourenço da Mata, under construction just outside of Recife in Brazil.

The deal puts AEG Facilities in five continents and at the helm of a future FIFA World Cup stadium. The company has entered into an agreement to join Odebrecht, a Brazilian engineering and construction firm responsible for projects like the Tripoli Airport in Libya and a high-speed railway between Madrid, Spain and Lisbon, Portugal.

Fernandes Arquitetos Associados is the lead architect on the 45,000-seat stadium, set to anchor a business and residential complex that will eventually house 9,000 units. The site is one of 12 stadiums being constructed or renovated in advance of the 2014 games. AEG will operate and manage the facility, said Bob Newman, AEG Facilities chief operating officer.

“It’s going to be a multipurpose stadium and football is first and foremost,” said Newman, later adding “but we’re building it with the flexibility to hold family shows, concerts and other events. Our goal is to maximize its utilization by the local community in making it available to them for use.”

The facility also has an environmental component. Newman said Odebrecht was planning to build a rainwater collection system into the stadium, along with solar-panels and natural light and ventilation.

The project also gives AEG Facilities a foothold in an emerging economy with a gross domestic product that has grown two percent every quarter for the last year. The sports and entertainment community is set for two periods of venue growth, both with the World Cup and the 2016 Summer Games in Rio de Janiero.

“From an entertainment perspective, we’re about to see an entire marketplace reinvent itself at one time,” he said. — Dave Brooks

Contact: Bob Newman, (213) 763-5425

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