GSD cautions on pace of multi million pound government projects

The GSD has urged the Gibraltar Government to be “responsible” and “cautious” over the pace of multi million pound government projects as it calculated that planned developments will cost £300 million in total.

This follows the Government’s announcement last week regarding the construction of three new affordable housing projects.

Based on the announced cost of Beach View Terraces and Mons Calpe Mews in 2013 for 944 units at a contracted total cost of £116 million the GSD said the new project for 1,500 units would cost in the region of £200 million given increasing costs.

“In addition to these the Government has announced eight new schools a national theatre and car parking at Grand Parade perhaps needing another £80 million not to mention a reclamation project at Coaling Island and a development at Rooke perhaps over £300 million of projects in total,” it said.

The Leader of the Opposition Roy Clinton said: “When Blue Water was announced to great fanfare and artists impressions in June 2015 over 1,600 affordable homes were to be financed by the developer Camoren, now it would appear these will be built by Government and I assume the £83 million developer’s premium is now lost as is the Super Yacht Luxury Marina.”

“The Government needs to consider whether its announced pace of development is sustainable and economic and not disjointed.”
“The Government needs to undertake proper planning not just of the urban environment, but also of the type of housing to be provided such as the current need for 1RKB rentals as Action for Housing has identified.”

“Some control also needs to be exercised on resale values so as to maintain future affordability.”

“In addition it is evident that Bishop Fitzgerald and Governor’s Meadow need to be relocated within their catchment area and news on the Government’s education plans should be released immediately.”

“The Government needs to be responsible and think beyond the electoral cycle and I caution them on the pace of development which will affect our community for generations to come long after this Government has gone.”