A giant entertainment center is being built in Kivistö, Vantaa.

There is a preliminary agreement on the financing of the center, amounting to approximately 200 million euros.

The large event center Arena 3.3 planned for Kivistö, Vantaa, has received funding, and construction of the entertainment center can begin.

The City of Vantaa is ready to accept the project’s financing solution. Previously, the city made a preliminary decision to lease city land for the project, as long as the project’s financing solution is convincing.

Now in June, Arena 3.3 Oy has signed preliminary agreements on financing the project. The financing solution is based on international financial markets, according to the city council meeting papers.

The city council will discuss the Arena 3.3 report next week.

Vantaa Mayor Pekka Timonen says that the arena survey will be thoroughly reviewed. The project’s cityscape solution now meets the city’s requirements. The appearance of the buildings has changed considerably from before.

“The financing solution will be presented to us at the meeting. We’ll see if the arena has enough food,” Timonen commented.

It can be considered a signal that the city’s phones have been ringing during the spring. Users of large halls have contacted them and made sure that everything is OK from the city’s perspective.

“Although there are several hall projects pending, Kivistö still has a valid city plan, so the next step would be to apply for a building permit.”

The Kivistö Multipurpose Arena’s main program is entertainment events, but the facilities are also open for sporting events. It could accommodate up to 20,000 spectators.

Arena 3.3’s main owners Pepe Perkiö and Jouko Harjunpää have previously stated that the arena is scheduled to open in the summer of 2027. A financially sound European investor has been sought as a financier.

The total cost estimate for the project has been approximately 200 million euros.

A parking garage for just under a thousand cars and a hotel with 310 rooms are planned for the Kivistö complex. In addition, facilities are being planned that will be used to serve the project and the environment.

Arena 3.3, which originally started as a football hall project, has been transformed into an event arena, within the walls of which you can play various ball games and do a variety of sports. National team football matches can no longer be held in the hall.

However, the backbone of many new hall projects is events, fairs and concerts, and this is also the case with Arena 3.3.

In terms of audience size, Arena 3.3 would be larger than, for example, Tampere’s Nokia Arena, which can accommodate over 12,000 spectators for a hockey game and 15,000 for concerts.

The estimated number of spectators at Helsinki Hall is in the same category as Nokia Arena.

Comments from Vantaa Mayor Pekka Timonen added at 4:40 PM.

The entertainment center buildings will be built next to Hämeenlinnanväylä. Photo: One Architects