Festivities of invierno de Aranda de Moncayo Activity · Aranda de Moncayo, Aranda, Zaragoza Image of Aranda de Moncayo, not of the place itself. Aranda de Moncayo's winter festival is held beside the site of Aratis, the Celtiberian city that gives its name to the valley, declared a bien de interés cultural in 2016; the embalse de Maidevera, completed in 1979, contributed together with emigration to the municipality going from more than sixteen hundred inhabitants in 1910 to just over a hundred. Photo: Ecelan (CC BY-SA 3.0) What to see and do in Aranda de Moncayo