Announced in July 2024 by Futeca Corporación, the Futeca District It will be a sports, shopping and entertainment complex located between zones 5 and 10, in the area of the former Army Stadium, where Playland Park also operated.
The project will be developed in two phases: the first includes the Futeca Gallerywhich will include a shopping center, hotel, shops, sports areas and services; the second will give way to Futeca Foruma large-scale venue for events and shows.
The design will be carried out by AS Arquitectura and HKS Architects, firms that reinforce the regional projection of the complex. The initiative comes from the Military Pension Institute, which granted a long-term concession—for 50 years—for the exploitation of the land.
Javier Arzú, founder of Futeca Corporation, This development seeks to mark a before and after in the urban and entertainment infrastructure in Central America. Arzú explains that the idea began to take shape six years ago and today it is beginning to materialize.
“The big winner of this project is going to be Guatemala. Therefore, the satisfaction we feel is different from that of any other business project; it has a very strong emotional component”
Javier Arzú, founder of Futeca Corporación
The businessman adds that the Futeca District It is conceived as a “country brand”, with the objective of positioning Guatemala on the regional and international map of entertainment and investment, and shares with this medium some key details of the project.
Is the initial investment of US$250 million maintained?
No. After the launch of the projectan international tour was carried out to learn about 16 large-scale stadiums and venues. This experience allowed us to identify new ideas, technologies and concepts that were later incorporated into the development.
Currently, the projected investment amounts to around US$350 millioncompared to the initial US$250 million. The increase responds to the incorporation of new components, such as a convention area and other spaces not originally contemplated, which expanded the footage and raised the level of investment.
How did that international tour influence the redefinition of the project?
The international tour was decisive in redefining the concept of Futeca District. The objective was to learn from world-class developments: analyze what has worked, what has not and what technological innovations are setting trends in large venues.
Among the spaces visited, the Santiago Bernabéuin Spain; he Sapporo Domein Japan; he Tottenham Hotspur Stadiumin England; and the AT&T Stadiumin the United States.
From these references, a more comprehensive vision of the project was built. The final design took about a year of adjustments, which included revisions, modifications and incorporation of new elements, until the current proposal was consolidated. According to Arzú, this experience completely transformed the scope and quality of Futeca District.
What does this moment represent in financial terms?
The project is very solid. We already have local financing secured for the current stage, especially for the shopping center part, with local banking.
Furthermore, we already have rented 91% of the shopping center. That solidity, both at a business and financial level, was what allowed us to formally begin construction.
What will be the first visible work for Guatemalans?
Right now we start with the earthworks and we estimate that this phase will last about four months. Then it will start the basement construction and of shopping center, Futeca Gallery.
In the case of Futeca Forumwe hope to start the earthworks between January and March 2027.
What are the deadlines for opening the first phases?
He shopping center and hotel is planned to conclude end of 2027 and, if there is any delay, during the first quarter of 2028.
He forum maintains the scheduled date for mid-2030s.
What concrete developments should be seen in the next 12 months?
In the next 12 months, the project Futeca District should show visible progress in its first phase. It is expected that the mall reach at least its first level in gray work, while the hotel tower You will begin to raise your structure with the first slabs.
The developers highlight that Guatemala has a high level in the construction sector and with highly trained professionalswhich allows projecting a sustained progress of the work.
RELATED READINGS
In terms of dimension, the first phase—which includes the Futeca Gallery and the hotel—will have an approximate height of 55 meters in the case of the hotel and 60 meters for the forum. This is equivalent to buildings between 15 and 17 levelswhich gives an idea of the scale of the project.
When they presented the project, they talked about thousands of jobs. Do you already have a more specific estimate?
Yes. In the construction stage we estimate that over four years there will be, consistently, around 1,500 people working directly on the job.
Already in operation, the shopping center should generate 400 seats and the forum, in normal operation, between 200 and 250 people. When there are events, only for cleaning, security and logistics, some may be required. 800 people per event.
How are they addressing the road issue, which is one of the biggest concerns?
We hired an English firm called Steerwho carried out the entire study of road impact and mobility. They already presented us with solutions that include overpasses and road reorganization.
We are going to do everything we have to do to improve mobility in the sector, because that benefits both the project and the surrounding areas.
What environmental measures does the project contemplate?
The entire environmental component is being worked on with experts from the United States. For example, we are going to develop a solar park to generate clean energy for the project.
Systems are also being designed to capture rainwater and reuse it, in addition to treatment plants so that the water When it is downloaded it comes out completely clean.
The trash will be separated and compacted within the same project to avoid contamination. The vision is to make a green, clean and environmentally friendly development.
What type of technology will the complex incorporate?
He Futeca District will integrate cutting edge technology at all levels, including security, communication, comfort and operation. The artificial intelligence will play a key role in optimizing the user experience and improving the complex’s operational efficiency.
The project also supports innovative solutions in mobility. The system of smart parking It will allow spaces to be managed through an application, through which users will be able to reserve their place in advance. This seeks to reduce the traffic generated by those who come looking for parking.
At the time of reservation, each visitor will select the assigned section, avoiding loss of time within the facility. Access will be controlled by digital tickets and will be limited to the number of vehicles the complex can accommodate.
Those who do not have a reserved space must opt for external alternatives. Among the complementary solutions are considered satellite parking and safe pedestrian access from nearby points, with the aim of improving mobility in the area.
In 2024 there was talk of attracting international events. Are there already concrete conversations?
Yes. We have been in talks with Live Nationone of the largest promoters in the world, and also with Creative Artists Agency (CAA)which represents a huge number of artists and athletes.
They have been surprised to see that Guatemala can count on a first-world project and are excited about the possibility of bringing world-class events.
How will Distrito Futeca integrate Guatemalan culture?
He Futeca District seeks to have a significant impact on the Guatemalan cultureby positioning the country as a new reference in the region and projecting it to an international audience. According to Arzú, the complex will function as a showcase to show the identity, talent and capabilities of Guatemala.
In addition, the project will allow expanding the offer of cultural and artistic experiencesfacilitating access to events and activities that are currently not common in the country.
In terms of design, the Futeca Gallery It will incorporate elements that connect with the local environment, such as views of the main volcanoes of Guatemala, an aspect that, according to the developers, generated a positive impact from the conceptual stage and will be one of the attractions of the complex.
What other experiences do you plan to incorporate into the project?
In the central plaza, which will have around 10 thousand square meterswe want to incorporate many experiences that have never reached Guatemala. There will be musical fountains, giant screens to broadcast free events, an amphitheater for artistic and religious activities and it is expected to offer shows free of different themes.
The idea is that not everything is paid, but that there are also free spaces for people to enjoy experiences that they normally only see on television or in other countries.
What would you say to those who still doubt that a work of this magnitude can be carried out in Guatemala?
I would tell them to believe, to trust and to join. This is not a project that only benefits those of us who develop it; the big winner is Guatemala.
When you dream, put together a good team and work seriously, you can do great things in this country, concludes Arzú.
Futeca District technical sheet
- Futeca Forum: until 37 thousand spectatorsspace multifunctional
- Events: football, concerts, motocross, boxing, fairs and conferences
- Futeca Gallery: more than 40 shops, Plaza Financiera, fork-type restaurants, fast food area.
- Hotel: nearly 120 rooms (brand hilton)
- Central square: 10 thousand m² with free activities
- Parking: more than 800 spaces