Specificity of investing on the sports real estate market.

The article presents a specific type of investment projects that relate to sports infrastructure. The evolution of the approach to sport in combination with the latest architectural achievements find their expression in spectacular modern sports projects belonging to the so-called 'fifth generation of facilities', called stadiums-cities designed as independent spaces with their urban infrastructure. The implementation of such investment projects involves high risk, a large amount of time for project preparation and implementation, and high capital intensity. The research objective of the article is to analyse and identify specific conditions for investing in the sports real estate market based on the example of building large football stadiums referred to as 'megaprojects'. The study used a lot of source information about stadiums built worldwide for the Olympic Games and world and European football championships, taking into account in particular the level of expenditure incurred for their construction as well as innovative design and utility solutions. The following research methods were used in the article: a method of critical analysis of the subject literature on the real estate market as well as on the sports market, descriptive and comparative methods to identify the most significant investment trends on the sports stadium market. As a result of the research conducted, the most important current directions of implementation of architectural and functional solutions of the designed objects were identified, which generally comply with the standards used in other segments of the real estate market and concern in particular multi-functional and compact project and eco-projects, equipped with the latest IT solutions. [ABSTRACT FROM AUTHOR]