- The City Council agrees to grant, in the form of a concession and for a period of 50 years, the 21,500 square meter plot located between Calle Ángel Villena, Calle Bomber Ramon Duart and Calle Antonio Ferrandis (alongside L’Alqueria del Basket and the Pavelló Font de San Lluís)
- Licampa 1617 S.L. plans to invest, through the personal assets of Juan Roig, 220 million euros for the total financing of the project. Of this amount, it plans to invest 26 million euros in 2020, thus helping to kickstart the local economy
Valencia, 19 June 2020 — The Valencia City Council has today approved, in a local government cabinet meeting, to grant Licampa 1617 S.L., the company established by Juan Roig with the aim of promoting the construction of an Arena, the plot of land upon which said venue will be constructed. This follows the entry into force on 4 June 2020 of the amendment to the Land-Use Planning (PGOU), which was definitively approved on 28 April in the Land-Use Planning Commission.
This marks an important milestone for this project, which formally began in July 2018 when it received the unanimous political support of the entire Council through a joint motion, with it being considered to be of ‘general interest for the city of Valencia’. This represents a huge leap forward for the Arena project, which is a personal and altruistic initiative of Spanish businessman Juan Roig. This initiative is the result of public-private initiative and collaboration, which seeks to provide the city with a multi-purpose venue that positions Valencia and the wider Valencian Community as global figureheads in the hosting of first-rate sporting, cultural and entertainment events featuring performers and artists from Spain and further afield.
One of the main characteristics of the specifications that govern this concession is that Licampa 1617 S.L. shall pay an annual fee of €200,000, which can be updated, in favour of the Municipal Council. Furthermore, once the 50 year concession period ends, the venue will fall under the ownership of the municipality at no cost whatsoever to the city. In addition to these benefits for the city, the project will also entail the construction of a public park with green spaces and a new and modern infrastructure for the “Les Arts” state school. Furthermore, the latest report produced by the Valencian Institute of Economic Research (Ivie) finds that this venue will create approximately 300 jobs (both direct and indirect) and will contribute more than 10 million euros per year to Valencia’s GDP.
The mayor of Valencia, Joan Ribó, wanted to pay tribute to the work undertaken during the last few months, stating that “the parties involved have worked intensively, demonstrating a huge capacity for coordination between the teams, both from the Valencia City Council and Licampa”, in order to make progress in all of the procedures required for “an unprecedented project such as this multi-purpose pavilion, which will position the Valencia Basket project amongst the global elite, while also attracting many important musical and artistic events to our city”. The mayor also wanted to highlight the number of jobs that will be created by this development, and the positive economic impact that a project of this scale will have for the city of Valencia. Ribó also stated that it arrives at a time in which the city is suffering the impact of the coronavirus pandemic, and that Valencia needs to be resilient in order to overcome future global challenges. In this regard, Ribó wanted to highlight the importance of public-private collaboration in making this project possible.
Juan Roig, meanwhile, thanked “the hard work and enthusiasm of all technical, social and political actors of the Valencia City Council and the Generalitat Valenciana, led by mayor Joan Ribó. These people have worked to ensure that this Arena, and its associated infrastructures, can be built in the not-too-distant future in Valencia. My commitment to the development of this project is based on pride, as it will also help to reactivate the city’s economy while improving the visibility and reputation of Valencia and the wider Valencian Community”.
This Arena, which will be constructed on the aforementioned 21,500 square meter plot of land located between Calle Ángel Villena, Calle Bomber Ramon Duart and Calle Antonio Ferrandis (alongside L’Alqueria del Basket and the Pavelló Font de San Lluís) in Valencia, will have a maximum capacity for 15,600 spectators in basketball mode and 18,600 spectators in concert mode. In total, the venue will occupy a total constructed surface area of approximately 47,000 square meter.
The venue will also have an underground and above-ground car park with approximately 1,300 parking spaces. The project is also foreseen to include the construction of the new headquarters of the Valencia Basket Club as an annex to the main building, a 1,200 square meter multi-purpose room, various restaurant areas and a wide range of premises, terraces and VIP zones. The facility will also be fitted out with the most advanced, cutting-edge technologies for the broadcasting and monitoring of all kinds of shows.
The investment foreseen for this first year, which will be funded entirely from Juan Roig’s personal assets, is 26 million euros. The entire project is expected to cost 220 million euros, which will cover the construction of a covered venue, a new car park and a series of complementary infrastructures that will rejuvenate the neighbourhood, such as a public park with green spaces and the construction of a fresh and modern infrastructure for the “Les Arts” state school.
The Arena is part of the Juan Roig Legacy Project. Just like the other initiatives that are part of the project—including Marina de Empresas, Trinidad Alfonso Foundation, Valencia Basket and L’Alqueria del Basket, amongst others—it seeks to share with the city part of the huge revenues that it receives from it. It will therefore be entirely financed by the personal assets of Juan Roig via his company Licampa 1617 S.L. As the project progresses, Licampa 1617 will define the management model based on the project’s specific requirements at any given time.
This agreement gives way to the final procedures, such as signing the concession contract and securing the building permit, which are required in order to carry out the construction. If all of the procedures go ahead as planned, construction work could begin on the Arena as early as summer 2020, with a view to opening its doors in Valencia in 2023. This would also contribute to economic revival, which this whole construction process will bring about from the outset.