The European standard stadium will have 32,000 seats, and will able to host international games.
Last week, the Netanya municipality signed an agreement with the sports facilities fund for the construction of a new football stadium for the city, at an estimated cost of NIS 120 million. Netanya Development Company, which has handling the planning for the stadium over the past three years, will also manage its construction. The completed stadium will be transferred to the municipality.
The sports facilities fund will provide NIS 35 million in financing for the stadium. The Netanya municipality will finance the rest by a NIS 15 million loan, and approximately NIS 60 million from the sale of the city's old stadium.
The new stadium will be built on a 163-dunam (40.75-acre) lot, including commercial space. 12,000 seats will be built in the first stage, and 20,000 in the second stage, for a total of 32,000 seats. The stadium will be built according to European standards, and will able to host international games. It will also have special access for the handicapped. Three training grounds will be built to the north of stadium, surrounded by a ring road, and a 1,000-space parking lot.
Published by Globes [online], Israel business news - www.globes.co.il - on April 3, 2005