SPAIN (CelebrityAccess) – The budget for Spain’s Valencia Arena has been expanded following an increased investment from entrepreneur and president of Spanish supermarket chain Mercadona Juan Roig and his holding company Licampa 1617.
The investment, which will take the project’s budget from €192 million to €220, aims to make it the largest venue of its kind in the country and according to Roig, “give Valencia a multi-use space which will position the city and the wider region as a world-class destination for national and international sporting, cultural and entertainment events.”
With building work expected to start in summer 2020 for a completion date in 2023, the multi-purpose arena will sit on 21,500 square meters of land, with a capacity of 15,000 for basketball games and up to 18,600 for concerts. The arena’s capacity will surpass that of Madrid’s WiZink Center (15,500-cap.), which has hosted everyone from Bruce Springsteen to Beyonce.
Valencia Arena is being designed by sporting architects Hok and Valencia-based firm Erre.