Election 2020: Labour leader Jacinda Ardern on the issues facing Christchurch

Nearly half a billion dollars of funding's officially locked in for Christchurch's highly anticipated multi-use arena.

Prime Minister Jacinda Ardern, Finance Minister Grant Robertson, Christchurch Regeneration Minister Megan Woods and Mayor Lianne Dalziel met yesterday to sign the funding agreement for the project.

The $473 million stadium will seat up to 25,000 - and be built in the heart of the CBD.

Lianne Dalziel says now the funding's wrapped up - it's all systems go.

She says the next step is going out to market to find who'll design and construct the arena.

Early works are expected to begin on-site next year.