EU – Baltic States, Latvia, Markets and Companies, Real Estate

"According to American estimates, 10,000 seats in Riga means that there are one million inhabitants. If there is one million, the arena works. Riga has one arena and hardly a million. So there is no need for another arena," said Buncis.

He also indicated that London – with ten million inhabitants, has two such arenas, Berlin and Hamburg – one, informs LETA.

Buncis stresses that the arguments against building another arena do not involve only competition – "Arena Riga" has more experience.

According to Buncis, for the arena to survive, it needs to host 90 to 100 events. In 2006, it hosted 164 events, in 2007 and 2008 – correspondingly 182 and 180. In 2009, after the economic crisis erupted, it hosted 129 events, last year – 119.

As already reported, Riga City Council received a letter form the owner of Latvian ice hockey club Riga ''Dinamo'' Juris Savickis that stated that the new arena will be built next to Riga Airport.

According to Savickis, total estimates for the project amount to EUR 30 to 50 million. A hotel, rehabilitation center and outdoor sports field will also be built.

Riga City Council offered plots in Ziepniekkalns and Kleisti, and a plot near Riga Airport. The area chosen for the construction is 35 hectares.

All plots that were offered were situated in Pardaugava, as "Arena Riga" is already situated on the right bank of the Daugava River. The municipality also does not possess any large plots on the right bank to offer.