Juan Roig grants in 2020 advance funding worth the total cost of the Arena project

  • Licampa 1617 Ltd is a company founded by Juan Roig with the only aim of building Casal España Arena of València
  • The company’s capital rises to over €220M, the total sum planned for the project funding. Of those, €26 million are scheduled for this year. They will also contribute to boost the country’s economy and reaffirm Roig’s commitment to the project

València, August 11, 2020 – Licampa 1617 Ltd was founded with the only aim of building the multifunctional venue Casal España Arena of València, designed to host sports, culture and entertainment events at national and international levels. Its owner, Juan Roig, has expanded its capital in 2020 by funding 100 % of the total cost of the project in advance. Specifically, €52M through capital increase, and €130M through partner contributions. By doing so, the company has accrued a capital of over €220M, which is the total amount planned for financing the project. €26M of those are scheduled for this year, and they will also contribute to give the economy a boost and to reaffirm Roig’s commitment to the project.

This arena is located on a 21,000 square meter plot on the streets Ángel Villena, Bomber Ramon Duart and Antonio Ferrandis (next to L’Alqueria del Basket and Pavelló Font de Sant Lluís). The Arena will have an area of approximately 47,000 square meters and it will be able to host 15,600 spectators in basketball mode and 18,600 in concert mode.

The project is Juan Roig’s personal and altruistic initiative, as well as the result of public-private partnerships. It includes an underground and multi-storey car park with approximately 1,300 spaces; the new headquarters of the Valencia Basket Club as an annexed building; a 1,200 square meter multi-purpose room; restaurant areas; a wide range of seats, terraces and premium areas; as well as many additional buildings that will help to liven up the neighbourhood, such as a public park with green areas and new and modern infrastructures for Les Arts public school.

The company will pay an updatable €200,000 fee to the City Council annually. Furthermore, after the 50 year period of land licence, the land’s ownership will be transferred to the City Council at no extra cost.

The construction works have already started and the process moves forward thanks to the agile and efficient Activities Service of Valencia City Council, which allowed the works to start on 29th June. Licampa 1617 Ltd plans to inaugurate it by 2023 if no major setbacks arise. Its management plan will be shaped according to the needs of the project as it develops.

A venue in Valencia creating wealth and well-being for the area

Apart from the benefits mentioned above, according to the latest report by the Valencian Institute for Economic Research (IVIE), this project will result in creating about 300 direct and direct jobs, and will have an economic impact of over 10 million euros a year (GDP) on the city.

Sponsorship by Juan Roig’s Legacy Project

Licampa 1617 — Casal España Arena of València is sponsored by Juan Roig’s Legacy Project and, like many other supported initiatives (Marina de Empresas, Trinidad Alfonso Foundation, Valencia Basket, L’Alqueria del Basket, etc.), it seeks to pay back the city of Valencia and its region for how much it has received from them.