FC Groningen benefits from “Planned town” development with new stadium

Adjust font size:

The Eredivisie club celebrated the opening of its new 20,000-seat stadium with a 2-0 win over Van Heerenveen, a game that also highlighted a new development project in the Netherlands and Europe.

The stadium was part of the Euroborg property scheme, which seeks to establish a kind of “planned town” around a stadium. The plan includes residential property, retail development, a casino, a university and ample parking.

The deal was financed with 50 percent of the funds coming from the Groningen municipality, and the other half from a development team that includes BAM, Ballast Needham and another Dutch real estate developer. In return for building a new stadium, the developers would get exclusive rights to commercial property around it.