Robertson Property and Live Nation have sealed the deal with Cardiff Council to deliver the landmark Cardiff Bay venue, due to open in 2028.

The new arena is designed with world-class acoustics and sight lines to host major international artists and will attract more than one million visitors a year.

Architect Populous redesigned the scheme after the project’s forecast cost soared

Over 1,000 jobs will be created during construction and operation.

Churngold Construction is understood to have secured the groundworks and foundations package with J & D Pierce Contracts bagging the steelwork package.

The arena is expected to have a transformative impact on the City

Council leader Cllr Huw Thomas said the arena would transform Cardiff’s visitor economy “in a way nothing has since the stadium opened in 1999.”

Robertson chief executive Elliot Robertson described it as a “catalyst for growth” that will cement the city as a cultural hub.

The scheme is a central part of the council’s Music City strategy and will put Cardiff firmly on the international touring map. The grand opening is planned for 2028.