A group of companies in the fair, conferences and trade show sector in Argentina has been granted a 15-year contract to operate the Buenos Aires Convention Centre, a brand new facility for events in the country’s capital.
The main objective is to turn the building into a world-class venue and contribute to the positioning of Buenos Aires as an international destination for business tourism.
Known collectively as UTE, the group is made up of event organisers and real estate investors. OGDEN Argentina S.A has(55 per cent stake in the joint venture and Entretenimiento Universal S.A 20 per cent stake on it. These companies are part of IRSA CP – owner of 16 shopping centres in Buenos Aires– and by entrepreneur Diego Finkelstein, founder of DF Entertainment, the company that organises Lollapalooza Argentina and others events.
OFC S.R.L, one of Argentina’s leading companies in audio-visual services, holds 20 per cent stake in UTE and the remaining 5 per cent belongs to La Rural S.A.
In addition, Messe Frankfurt Argentina, subsidiary of Messe Frankfurt Group, signed an agreement to promote and commercialise the convention Centre internationally.
The Buenos Aires Convention Centre has 18,000 square metre of covered area, an overall capacity for 5,300 people and an underground design that will allow the preservation of all the green areas around the venue.
Other features include a plenary hall, a divisible auxiliary room, offices, meeting rooms, a restaurant and a of 1,600 square metre foyer.
The Buenos Aires Convention Centre is an investment of $500 million Argentinian pesos (roughly US$29.1m) and its construction was carried out following sustainability criteria ensuring a positive impact on the environment.
The UTE has been granted the operation of the building following a bidding process.