Work has begun on the £700m development scheme to create an innovative sports and leisure destination on the Cardiff waterfront.

The Cardiff International Sports Village project is one of the largest urban regeneration schemes in Europe and will be anchored by sports and leisure facilities.

The scheme is expected to take up to ten years to complete and the first work on the site will be carried out by Taylor Woodrow, who will also be developing the 450-apartment residential area on the site through its Bryant Homes brand.

The Sports Village development will be themed on water, snow and ice and will include a multipurpose arena with ice rink and a snow box for winter sports. There will also be a 50m competition pool, which has a scheduled completion date of 2005.

Other leisure facilities will include a hotel, conference facilities, a casino, restaurant developments and a heritage centre.

Cardiff council have confirmed that the scheme has been granted outline planning permission and agreements are in place with a number of key partners including the National Assembly for Wales on land disposal, environment and infrastructure procedures.

Leader of Cardiff Council, Councillor Russell Goodway, said: “By making this pioneering development our top urban regeneration priority, the Council is reflecting the genuine confidence in the scheme shared by our public and private sector partners.”

The announcement of the Cardiff plan prompted fears for the future of the recently-opened Wales National Pool development in Swansea for hosting international events.

Swansea-based Plaid Cymru AM, Dr Dai Lloyd said: “I welcome the news of another high quality swimming centre in Wales. However, I do not welcome any suggestion that this new pool will be used as an international venue. Wales already has a national pool – the pool at Swansea. All Welsh international events should be held there.

"We must ensure that Swansea's standing as the home of Wales's national pool is not undermined by what is a stealth bid by Cardiff County Council." Details: www.cardiff.gov.uk