Major Helsinki Arena Sold

The major Helsinki Arena has been acquired by Finnish property investment firm Trevian. The 60,000 seat multi-purpose venue, which has been closed since February 2022 due to sanctions on the previous Russian owners, is set to reopen in 2025 under Trevian’s ownership.

The deal required changes to EU sanctions legislation in December 2024 as well as regulatory approvals from Finnish authorities in February 2025. The undisclosed purchase price will be held by authorities during the sanctions period.

“After over two years of negotiations in good cooperation, getting the arena back into operation was the common goal for all parties involved,” said Reima Södervall, CEO of Trevian Asset Management which will asset manage the property.

Modernization and Upgrades Planned

Trevian has comprehensive business and investment plans for the arena, including modernization and environmental/ESG upgrades. As a landmark venue first opened in 1997, the facilities require renovations and improvements.

Significant Impact

The three-year closure severely limited hosting major events like sports, concerts and corporate gatherings in Helsinki according to Mayor Juhana Vartiainen. Reopening supports the local tourism, hospitality and services sectors.

“Regaining use of the arena has a massive impact for major events, cultural life, the broader economy and attractiveness of Helsinki and all of Finland,” Vartiainen stated.