Singapore tycoon Peter Lim and son Kiat drive Valencia's €322m stadium push with 2027 opening set

Malay Mail

2 days ago

SINGAPORE, June 27 — Singapore tycoon Peter Lim is not stepping away from Valencia CF, as the Spanish football club announced it has secured €322 million (RM1.6 billion) in financing to complete its long-delayed new stadium, the Nou Mestalla.
Scheduled to open in 2027, the 70,044-seat stadium will be Spain's fourth largest, behind the redeveloped Nou Camp, Santiago Bernabeu, and Metropolitano Stadium, according to a report in The Straits Times today.
Valencia president Kiat Lim, Peter Lim's son, hailed the financing as a 'historic milestone', saying it would enable the club to deliver a 'world-class stadium' and reflects growing global investor confidence in the club.
The financing includes a €237 million note issuance with a 28-year maturity and an €85 million five-year loan, which will be repaid using proceeds from the sale of the current Mestalla site.
'This new stadium is a game-changer — in revenue potential and fan experience,' said Kiat, who took over as president in March.
Valencia president Kiat Lim, Peter Lim's son, hailed the financing as a 'historic milestone', saying it would enable the club to deliver a 'world-class stadium' and reflects growing global investor confidence in the club. — Picture from social media
Valencia have played at the ageing Mestalla since 1923; construction of the new stadium began in 2007 but was halted in 2009 due to financial troubles, years before Peter Lim rescued the club from bankruptcy in 2014.
Despite recent on-pitch struggles, Valencia still drew strong home crowds, averaging over 43,000 fans per game last season, with season ticket holders filling 90 per cent of seats.
The Nou Mestalla will offer 6,500 hospitality seats, compared to fewer than 500 at the current ground, and is expected to more than triple the club's revenue through expanded hospitality, naming rights, and year-round events.
The club also envisions the stadium becoming a multifunctional venue hosting entertainment, business, and leisure activities, helping transform it into a regional hub.
Kiat said the venue will operate '365 days a year' and match the club's long-term vision, describing the project as more than just a stadium, but the 'future of Valencia CF'.
Peter Lim's Meriton Holdings has committed over €200 million to the club, the most by a single investor in La Liga history, keeping Valencia financially stable and able to fund major projects like this.
The stadium financing follows a corporate refinancing completed in November 2024, in which the club consolidated €186 million of debt, further strengthening its financial position.