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Off-plan property update - Gibraltar

Monday, 04th July 2016

Off-plan property update - Gibraltar Image

On 4th July 2016 we contacted all developers of the major off-plan schemes in the Gibraltar property market.  There seems to be no adverse Brexit effect and the common message was "business as usual".  

The supply of these properties is crucial to many future occupants, especially if the Gibraltar economy is to continue to grow and not be reliant upon Spain for a residential address.

For the record, updates are below. 

West One, all apartments sold at launch, construction on target for early 2018 completion, some have been resold at higher prices and we have received further enquiries post referendum.

Bourne Place, all apartments sold, completion on target for June 2017, resales possible in a few weeks.

Imperial Ocean Plaza, all apartments sold at launch, construction expected to start late 2016.  No resales allowed until construction start.

Ocean Spa Plaza, all apartments sold at launch, construction on course for early 2018 completion, resales forecast from September 2016.

Tarik Views, all apartments sold at launch, construction expected by end of August 2016 according to the contractor on site. 

The Arches, 100% sold soon after launch and the development is expected to be completed on schedule which is before summer 2018. Resales have taken place over the past few months at higher prices and we have continued to receive enquiries for resales since the referendum. 

Midtown, construction progressing well and phase 1 is on schedule for completion next summer.  Phase 2 to follow 8 months after.  Some apartments still available. 

Quay 29, exchange of contracts underway and construction is due to start imminently.

Buena Vista Park Villas, construction continues and there is availability of high end houses in phase 3.

Plata Villa, sold out at launch, limited resales available, completion due September 2017.

World Trade Center is expected to open later this year.  We can still offer some office space there.

Contributed by Mike Nicholls