Canindé, which was opened nearly 60 years ago, has been closed since January and will no longer exist in its well-known form. The stadium, located in the northern part of São Paulo, near the country’s largest bus terminal, Tietê, will be demolished and transformed into a multifunctional arena.

What does the project include?

The project envisions a venue similar to Allianz Parque—the Palmeiras stadium, inaugurated in 2014 on the site of the former Palestra Itália. In addition to hosting Portuguesa’s matches, the new arena will accommodate various entertainment events, ranging from corporate meetings to large concerts. Revee, a company specializing in creating, modernizing, and managing event spaces, has signed a 50-year lease agreement with Portuguesa for the Canindé site (99,000 m²) in exchange for renovating the stadium. Since November last year, Portuguesa has been operating as an SAF, although the sale of 80% of its shares to Tauá Partners has not yet been officially approved.

This type of venue will change Portuguesa’s status, but it is a project for the entire city of São Paulo. We want everything to be well-integrated and to provide the best experience for spectators, said Luís Davantel, CEO of Revee, in an interview with Estadão. While waiting for significant investments in sports infrastructure, fans often look for other entertainment options. One of the most popular choices is online gaming, which offers an engaging theme, stunning graphics, and exciting bonuses. Check out the Mahjong Ways slot demo and explore its features completely for free.

The new Estadio do Canindé will have a capacity of 30,000 spectators for matches and 50,000 for concerts. The complex will feature a boulevard, a parking lot with 3,400 spaces and a terrace for events hosting up to 3,000 people, as well as a hotel with 220 apartments. Plans also include restaurants, stores, and coworking spaces to ensure a steady flow of visitors.

The new arena will have artificial turf since, according to Davantel, natural grass would not withstand the high number of events. A natural pitch allows for a maximum of four concerts per year. That is not suitable for either football or music events, explained the Revee CEO.

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Innovative features

Davantel, who worked on the construction and management of Allianz Parque for four years, highlights that the Palmeiras stadium serves as an inspiration for the new project. It’s a similar model but more advanced. We’ve learned from the mistakes made at Allianz Parque, he said. Allianz Parque can dismantle its concert stage within 12 hours, allowing a match to take place the day after a concert, as seen during the Paulistão final. The new Portuguesa arena will be even more efficient. We will have a structure designed for rapid layout changes. We can host a concert on Saturday night and a match on Sunday morning, assured Davantel.

The initial cost of the project was R$500 million, but after adding the hotel, it increased to R$650–700 million. Portuguesa will continue to generate revenue from match tickets and receive a share of the arena’s profits, including earnings from food services, VIP suite sales, and stadium naming rights. The revenue-sharing details have not yet been finalized. The arena is not expected to open before 2028. Demolition is scheduled to begin later this year, and construction—expected to last 24 to 30 months—will start next year. However, the project must first receive approval. Davantel expects the application to be submitted in April and does not foresee any issues in obtaining the necessary permits. City officials have not commented on the matter.