Abu Dhabi firm to fund Real Madrid stadium revamp
International Petroleum Investment Company (IPIC) will fund the revamp of Santiago Bernabeu, which notably includes the installation of a retractable roof
Abu Dhabi's International Petroleum Investment Company (IPIC) will fund the revamp of Santiago Bernabeu, the home stadium of football club Real Madrid.
A retractable roof will be fitted onto the 81,000-seat venue, and plans are also in place to include a shopping centre and a hotel.
Each of those elements would be "enveloped inside a metallic, undulating facade".
Madrid's city hall has given approvals for the revamp, with its executive council approving the project.
A mall adjacent to the stadium will be demolished, and replaced with a large public garden.
IPIC will be given naming rights as well, Arabian Business reported, citing AFP.
The stadium was inaugurated in 1947, and given its current name in 1955.