Construction of the 220-million-euro Valencia Arena receives green light
The landmark sports and culture complex was given access to a municipal plot
- June 22, 2020 14:30
- Aseniya Dimitrova
A new milestone for the construction of the landmark Valencia Arena was reached last week. The city council of Valencia approved the concession of a municipal plot of 21,500 square meters to LICAMPA 1617, for a period of 50 years.
An important public-private partnership
On Friday, the city authorities of Valencia approved the five decades-long concession of a municipal plot located in the streets Àngel de Villena, Bomber Ramón Duart and Antoni Ferrandis, within the neighbourhood of Quatre Carreras. According to the agreement, the company Licampa is obliged to pay some 200,000 euros every year to the city council and invest 220 million euros in the construction and development of the complex.
The Mayor of Valencia Juan Ribó highlighted the importance of the public-private partnership that made the project possible and how this large-scale project comes at a time when the city is suffering the impact of the health crisis and that Valencia needs more than ever to meet the challenges of the future in a resilient way.
About Valencia Arena
Valencia Arena is scheduled to open in 2023 and so far, there has not been a significant delay caused by the Covid-19 state of emergency explained the authorities. The development of the project is led by LICAMPA 1617, founded by Spanish businessmen Juan Roig.
The design by HOK and local architecture practice ERRE Arquitectura was revealed last November. The project consists of the building of a multipurpose pavilion with a capacity for 18,600 spectators and auxiliary facilities such as a public car park, park with green areas and a new infrastructure for the public school "Les Arts”.
According to Ribó, Valencia Arena will give a strong impetus to job creation and the economic dynamism of the city. In particular, Valencia Arena is expected to create over 300 jobs and generate 13 million dollars for the local economy every year.
The building is also meant to serve as the headquarters of the men and women’s Valencia Basket Club. Finally, the mayor also emphasised the fact that the future sports facility will be able to welcome important art, music and culture events, which is currently impossible due to the absence of a suitable space.
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