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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

IPIC will finance the revamp of Santiago Bernabeu, the home stadium of Real Madrid. [Image: Arabian Business]
IPIC will finance the revamp of Santiago Bernabeu, the home stadium of Real Madrid. [Image: Arabian Business]

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. 

 

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