Gemswell Surf Madrid, set to become the largest surf lagoon in Europe, has fully secured its €60+ million funding, clearing the path for construction at Atlético de Madrid’s ambitious Ciudad del Deporte sports city project next to the Riyadh Air Metropolitano stadium.
The 23,000 m² surf lagoon is being developed by Stoneweg InfraSport — a joint venture between Stoneweg and Teras Capital — in partnership with Atlético de Madrid. Financing combines a syndicated loan led by Banco Santander and BBVA, equity from Atlético members, and a €15.7 million participating loan from European funds via Buenavista NextGen Urbano.
Key Project Details
Opening target: Spring 2027Additional facilities: 3,000 m² of restaurants, 500 m² of specialised retail, a surf school, corporate event spaces, and experiential activity zonesProjected impact: ~500,000 annual visitors and more than 100 direct jobs
Ramón Romero, CEO of Stoneweg InfraSport, described the funding close as “a decisive milestone†that demonstrates strong confidence from leading banks and European institutions in the project’s model. He added that it “consolidates the final phase of Madrid’s development†and strengthens Gemswell’s strategy to build a European network of surf parks in prime locations.