Nuevo Mestalla has come another step closer to completion after the Valencia city government approved of the “Valencia Dinamiza” project.
The Valencia Dinamiza project involves a direct investment of €626 million to stimulate the local economy and job growth by means of completing Nuevo Mestalla, and commercially developing the area around the stadium as well as the area of Mestalla, which is set to be demolished as soon as the new stadium is finished.
Valencia chairman Manual Llorente called the move an essential step towards completion of the stadium. The club had already reached a deal with creditor Bankia in December 2011, but had to comply with a number of further obligations, which it has now done.
Works on Valencia’s new 74,000-seater stadium had started in 2007, but were halted early 2009 due to funding problems. The club now hopes to be able to resume works in September and move into their new home at the start of the 2014/15 season.