Three business consortiums chosen for Oulu’s Arena negotiations

The city of Oulu has selected three business consortiums for the negotiations regarding Oulu’s new Experience Arena and its surrounding area. The business consortiums put their name down for the Arena project based on the public contract notice published by the city of Oulu in May.  

The operators selected for the negotiations are Skanska Talonrakennys Oy, YIT Business Premises OY and the Raksila 2.0 consortium, comprised of SRV Rakennus Oy and Travian Asset Management Oy. 

“We are happy with the amount and compositions of the consortiums. There are businesses that have realized significant construction and development projects with experienced and competent operators”, the Mayor of Oulu Ari Alatossava states. 

The Arena that will serve for concerts, conferences, sport and other events is planned to be built in Raksila, primarily on the plot of the dismantled courthouse and police station. On top of the Arena, a training ice rink, a parking area serving both services and the development of the surrounding area are included in the project. Additionally, the project includes residential construction rights elsewhere in the city. 

Oulu City Council decided in June 2023 that the city commits to owning the future Arena with a maximum sum of 50 million € and a 49,9 % share of ownership. The city is searching for a business consortium to realize the Arena’s design and construction with a public tendering that started in May. The consortium would commit to owning and managing the Arena with a minimum of 50,1 % share of ownership. 

In exchange for the Arena ownership, the winning consortium will receive plots in the surrounding area of the Arena for other development and construction. There could be a hotel, office spaces or commercial facilities in the Arena’s surroundings that support the Arena’s realization. Additionally, the project possibly includes residential building rights elsewhere in the city. 

In the negotiations between the city and the business consortiums during the summer and fall, the Arena’s ownership, business activities, size and location will be determined. Simultaneously, the possible projects in the Arena’s surrounding area and residential building rights will be discussed. The final tendering will be held between the three selected consortiums at the turn of the year, and the city will decide the winner in the spring of 2025. The development of the Experience Arena and its surrounding area will take approximately two years and the construction will take another two years. The Arena is expected to be finished in the spring of 2029.