George Mathias
GIBRALTAR has undergone a major transformation evolving from a small British Colonial Garrison Town into a self-thriving economy built upon a wide range of commercial business activities ranging from tourism, shipping, and port industries to highly regulated financial services and the gaming industry.
All of this has generated demand for property construction both for commercial and residential needs.
Continuous economic growth has encouraged significant public-sector investment into new schools, sporting complexes, roads, airport, public transport, services, and clean energy infrastructure, all within a vibrant economy and a strong growth in Gross Domestic Product per capita.
This direct investment has fuelled and motivated private sector investment into property development which is being delivered to increasingly higher standards through competitive tendering.
The last 18-24 months has seen an acute increase in property sales as a result of an increase in purchaser demand and with limited resale supply of properties, with high end property fetching as much as £ 8,000 – £ 10,000 per m2 circa £1,500 more per m2 than two years ago.
This surge in demand primarily driven by speculative investors, has in turn encouraged the developers to re-launch the luxury development schemes which had been put on hold.
Gibraltar offers a safe and desirable place to live and work embracing luxury lifestyle with comfort living within a secure and structured fiscal environment.
Recently announced by the Gibraltar Government, and probably the most ambitious project to be supported by the Government, is a significant private investment initiative to reclaim land from the harbour. The development project known as “Victoria Keys”, will be undertaken by Harbour Developments Limited, a consortium made up entirely of locally based developers.
The reclamation, situated in a prime location to the West of Coaling Island, aims to create up to 60,000 sqm of new land area.
Another spectacular development has been the recent concession granted to the TNB Global Foundation to develop a multi-million-pound marina development, which will provide an exciting mix of residential and commercial amenities in a waterfront environment incorporating landscaped recreational gardens, hotel, and superyacht marina.
New Developments in the pipeline for construction
Register with BFA for your VIP listings before launch of off plan sales
The Hilton Project – The 160 Bed Hilton Hotel and 2 Luxury Residential developments.
Queens Plaza – Commercial and Residential Development
North Gorge – Luxury Eco Friendly Villas within the surrounds of a Natural Sanctuary
And other smaller and exclusive projects underway…
17B Casemates Square
The Balcony
Gibraltar
Tel: 00(350) 200 71131 / 71625
Email: info@bfagib.com
