The Brazilian city of São Paulo is set for a new 20,000-capacity arena through a partnership between Live Nation Entertainment, Oak View Group and GL Events.

GL Events, an events infrastructure specialist, has been awarded a 30-year lease by the City of São Paulo for the Anhembi campus, which spans four million square feet and is currently known for hosting a carnival parade among other events.

The arena has been designed by architecture firm Gensler and is expected to break ground in 2022, opening in 2024. The arena is set to include innovative features such as environmental sustainability programmes, VIP seating, hospitality lounges, diverse food and beverage offerings and premium acoustic technology.

The Arena São Paulo will host concerts, sports, family entertainment shows and more, and will be located in the heart of the Anhembi District. The development of the arena will mark the beginning of a wider redevelopment project for the district that will include a range of real-estate investments.

It is hoped the redevelopment will transform Anhembi into a “global benchmark” for events with the arena, which will be complemented by a cultural boulevard, an exhibition centre and São Paulo’s first next-generation international convention centre.

Following the redevelopment, the complex will generate cash flows of around BRL5bn (£667m/€790m/$916m) of economic benefit for the city and local businesses. The agreement marks the most significant step towards the modernisation of the complex in its 50-year history.

Live Nation and OVG will develop and operate the new arena and oversee event bookings. Live Nation, which has an existing presence in Brazil with festivals such as Lollapalooza and Rock in Rio, will focus on featuring international and domestic artists at the arena.

São Paulo Mayor Ricardo Nunes said: “Today is a historic day for our city because we are starting the implementation of the Arena São Paulo, a project led 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.”

Michael Rapino, president and chief executive of Live Nation Entertainment, added: “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.”

Last month, Live Nation and OVG were announced as companies in a consortium that will deliver a new 15,000-capacity arena in the Welsh capital of Cardiff. The companies will serve as operators, with Robertson to be the developer of the arena, which is set to open by the end of 2024.

Image: Live Nation Entertainment