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May 1, 2012
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Go-ahead from shareholders for new €30 million conference centre for Padua’s trade fair district




The shareholders’ and board of directors’ meetings of Fiera di Padova Immobiliare (pictured), held on Friday 20 April to discuss the construction of a new conference centre, had a positive outcome. With the approval of an estimated investment of €30 million, shareholders voted for a capital increase of €3,264,008 by the Padua Municipal Authority (which holds a 40% stake in the company) and the Chamber of Commerce (40%), and of €1,632,004 by the Province of Padua (20%).

As regards financing the construction work, expected to be completed by 2014-2015, the Padua Municipal Authority had already decided to transfer Palazzo delle Nazioni, which is located in the trade fair district, to Fiera di Padova Immobiliare. This facility is estimated to be worth just over €8 million, in addition to which the Authority has allocated a further €4.5 million. The Chamber of Commerce – which is pushing strongly for the construction of the centre – is providing another €12.5 million, while the Province, which has already earmarked €5 million (€2.5 million for 2013 and €2.5 million for 2014), is considering increasing its contribution to €6.25 million.

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It is still to be decided who will manage the new conference centre – the plenary hall should have a capacity of more than 1,600 – intended to boost the desination’s international competitiveness on the events market. While the Municipal Authority would like to entrust the job to PadovaFiere, in turn managed by French group GL Events, the Province has always supported the idea of putting it out to tender.

The next few weeks should see the project defined in more detail and the first announcements of competition published: it is planned to lay the first stone in 2012 and complete the work within two/three years.

 


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