MOSCOW-VTB Bank has selected Colliers International as an exclusive consultant for the $700 million Arena Park project here. Colliers will consult for concept development and lease of the 530,000-square-foot retail and entertainment component of the mixed-use development.
The current Dynamo Stadium on the site was built in the 1920s over the grounds of the former Petrovski Palace, built in 1782. This new project, designed by architect Erick van Egeraat, will see two enclosed stadiums built within the current stadium walls, as well as an underground retail center that will connect to the city’s subway system.
The two new stadiums will host the 2018 FIFA World Cup. The facilities will also be used for many other events such as concerts, hockey games and more before and after the FIFA event, up to 200 events per year. The project is scheduled to open in 2016.
According to a Colliers statement, the complex will also feature a modern hotel, residential and office facilities. The company did not return a request for more details in time for this story.
Galina Maliborskaya, director of retail property in the local Colliers office, said in the statement that the three-level underground retail center will include a sports museum, a large food court area, an area of concept stores selling sports and outdoor activity goods and children’s stores.
“The consultant’s objective was to add all the commercial functions, while preserving the historic fa
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