After the fire, the Comunidad de Madrid decided to build a new building in the same place.
It was designed by architects Enrique Hermoso and Paloma Huidobro.
Its construction was started 20 February 2002 with a budget of 124 million euros.
He took advantage of the former building of the structure, particularly the facade of the Plaza de Salvador Dalí and Avenida de Felipe II and the back of the Calle Fuente del Berro.
It was inaugurated 16 February 2005 by Mayor Alberto Ruiz-Gallardón and the president of the Community of Madrid Esperanza Aguirre.

It has a variable capacity depending on the configuration to be adopted:
Athletics: 10,000 (with 200m track and six lanes)
Handball: 14,000
Basketball: 15,000
Concerts: 15,500 (with standing public ramp)
After the fire, the Comunidad de Madrid decided to build a new building in the same place. It was designed by architects Enrique Hermoso and Paloma Huidobro. Its construction was started 20 February 2002 with a budget of 124 million euros. He took advantage of the former building of the structure, particularly the facade of the Plaza de Salvador Dalí and Avenida de Felipe II and the back of the Calle Fuente del Berro. It was inaugurated 16 February 2005 by Mayor Alberto Ruiz-Gallardón and the president of the Community of Madrid Esperanza Aguirre.
It has a variable capacity depending on the configuration to be adopted:
Athletics: 10,000 (with 200m track and six lanes)
Handball: 14,000
Basketball: 15,000
Concerts: 15,500 (with standing public ramp)
Palacio de Deportes de la Comunidad de Madrid