What impact do sports stadiums have on the real estate sector?
Mexico is preparing for the 2026 World Cup , so it is getting ready with three of the 22 stadiums it has to meet the demand of the attendees; It is worth mentioning that for the first time there will be three host countries for this event, which are the United States, Canada and Mexico.
This trend of stadiums has become very relevant due to the implications of the construction of a property of these characteristics, which is why Newmark Knight Frank (NKF) carried out a study in the United States to know the impact they have on the environment.
This analysis indicates that clubs create sports facilities from scratch . “These infrastructures are built where the land is available, which is generally not in already activated areas of the city , but in little-used areas, with few demand drivers to cause organic revitalization; sometimes, in a suburban place ”.
The construction of stadiums follows the pattern established by residents, which is why the migration of these places to the center of the city has been seen , it should be noted that this influences depending on the interests, focus and needs that arise , that is, starting from a consolidating, revitalizing or detonating project.
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Pedro Delgado Beltrán, Director of Hospitality at NKF.
It is worth mentioning that developers compete to identify the properties or lands available to build entertainment destinations so that the stadium visitor can attend before or after a game or concert.
"A stadium, to be successful, must promote service areas such as hotels, restaurants, shopping and entertainment centers for before and after the game, as well as residential buildings within walking distance," said Pedro Delgado Beltrán, director of Hospitality at Newmark Knight Frank (NKF).
Likewise, NKF mentions that the performance and evolution of a sports club in a stadium is favorable for the positioning and image of the city or the country; in addition to that architecture, technology, versatility of uses , etc., influence the impact.
"Sports events, artistic shows or concerts and the facilities themselves constitute an additional experience within the offer of attractions and activities offered by destinations, generating flows of fans or" fans "to certain areas of the city, presenting opportunities for the establishment of a new complementary offer of entertainment, fun and recreation, accompanying restaurants, nightclubs, among others, and providing a greater economic benefit in the city ”.
The study reports that mixed-use developers around sports facilities are more popular, so they consider that Mexico should take advantage of this market and be prepared for the World Cup.
On the other hand, the new stadiums offer opportunities to rejuvenate underutilized buildings. “Having nearby offices and tenants looking to be part of a new development with amenities will generally be opportunities that should not be rejected, but a large part of the success of any sport-driven project will rest on its ability to complement the existing and future developments , to become part of a planned and active office, residential and commercial environment ”, concluded the director of Hospitality of NKF.