The Philippine Arena is an indoor arena being constructed in Bocaue, Bulacan, Philippines within the Ciudad de Victoria project of the Iglesia Ni Cristo. It is expected to have a seating capacity of 50,000, which is 25,000 more than the Araneta Coliseum and will open early in 2014. When completed, this will become the World's Largest Domed Arena. The project is part of Iglesia Ni Cristo's 100th founding anniversary which will be celebrated in 2014. It will cost the Christian organization $175 million .
The Arena will be used primarily for church events; as well as to host family entertainment, sporting events and concerts.
According to INC Executive Minister, Bro. Eduardo V. Manalo, the Philippine Arena can be used not only by the Church but by the public in general whether for local or international events.
Philippine Arena - Night View
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Bro. EDUARDO MANALO and Korean Hanwha Vice Chairman Hyung Chung Kim
Under the deal with Filipino Christian foundation Iglesia Ni Cristo, Hanwha Engineering will build a 50,000-seat "Philippine Arena" with a floor area of 74,000 square meters on the outskirts of its capital Manila.
Korean builder strives to become one of the world’s 100 largest construction firms
The work for the $175 million contract, signed on Aug. 4, got underway in a ceremony attended by Hanwha E&C officials including vice chairman Kim Hyun-chung and those from the Filipino Christian organization Iglesia Ni Cristo that issued the contract.
Hanwha E&C said that the work will be carried out over 30 months to be finished early 2014.
“By winning this contract for building the world’s largest dome arena, the company was able to prove its technological capabilities and the ability to carry out overseas projects,” Kim said in a statement. The company said that in the biddings for the contract, it competed with China’s Jiangsu International and the Philippines’ largest construction company EEI Corp. The project will be conducted in design-build process in which the contractor is responsible for all related processes from designing to building the facility, the company said.
“As the bridgehead for the Southeast Asian market, the project is expected to bring opportunities for more civil engineering and construction projects in the region.”
The project opens a new market for Hanwha E&C, which has focused mostly on the Middle Eastern markets, as it drives to become one of the world’s 100 largest construction companies.
Earlier this year Hanwha Engineering and Construction announced plans to become one of the world’s top 100 builders by 2015 with an annual sales figure of 5 trillion won ($4.65 billion), and win contracts worth 7 trillion won in that year.
The plans also revealed that the company will diversify its overseas portfolio to include civil engineering projects, and to expand into solar power and other renewable energy businesses.
Also as part of the plans, the company hopes to expand its overseas generated income by more than 20 percent each year with the aim of raising 40 percent of its annual revenues from overseas sources by 2015.
In the Middle East, Hanwha E&C has made significant headway this year, winning a series of contracts including an urban development project in Iraq.
The contract, issued by Iraq’s National Investment Commission, is valued at $7.25 billion, making it the largest overseas construction project to be won by a Korean construction firm.
Under the contract, Hanwha Engineering and Construction will build a planned town at a location 25 kilometers east of central Baghdad. The town will be built over an area of 1,830 hectares and contain 100,000 new homes, the company said.
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Lot of Iglesia Ni Cristo Centennial Projects - Ciudad de Victoria, Bocaue Bulacan, Philippines.