After years of planning, 14 months of construction and €80 million of private money, the O2 finally opened tonight to a cacophony of screaming teenage girls wearing Day-Glo bunny ears and brandishing multi-coloured sabres.
It was a momentous occasion for joint owner Harry Crosbie of the venue formerly known as the Point and now the gleaming reconstructed and reconfigured O2. He, appropriately, had the first words.
"I know you're not here to see me," he said when the deafening shrieks gave way to a puzzled 'who is he?' look among the audience.
"You and your mothers and fathers have supported us for the last 20 years and this is our way to pay you back. We're very grateful."
He also thanked the staff at the old Point and Mike Adamson and Paul Latham, both from Live Nation, the company which is the other joint owner of the O2.
Some of the biggest acts in the world were mooted to open the venue, most notably Crosbie's friends U2.
Bono and The Edge did perform an impromptu and short acoustic set last week, but it was decided that it would fitting for the annual Childline concert to be the first show in front of an audience.
For those who remember the glorified railway shed that was the old Point, the O2 looks like a 21st century venue with tiered seating that comes with cupholders on every seat, perfect sight lines and a compactness which belies its capacity of 8,500 seated or 14,000 depending on the configuration.
The comfort factor extends to the Audi Club, which will be the corporate hospitality area.
Tonight, the room which has red velvet curtains, deep pile carpets and comfortable armchairs played host to a slew of acts including Boyzone, The Script, The Saturdays, Anastacia and the urchin-like teenage X Factor star Eoghan Quigg.
The club, where annual membership costs €10,000 is nearly sold out despite the recession.
In recent weeks black acoustic tiles have been fitted to the walls of the venue to keep the sound in and the noise out for residents who will be living in the Point Village.
They may have finished 2nd in the X Factor competition, but London-based boyband JLS, who count Westlife as among their greatest influences, became the first act to play the new O2.
The first song at the new venue was their reworking of the old Frankie Valli standard 'Working My Way Back To You Babe'.
Later this week, two of the biggest bands in the world at present, Coldplay and The Kings of Leon, will play the O2 with rumours persisting that U2 will make an appearance with the Kings of Leon on Friday night.
