Victoria Keys Development

08 April, 2019

Victoria Keys Development Image

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. This new land will provide approximately 100,000 sqm of residential buildings with leisure, community, retail and commercial use for a wide spectrum of local needs. 

The land created will provide for the sustainable growth and expansion of the City of Gibraltar on the western side of the Rock, inside Port waters, for the next decade, much as the reclamation carried out by the GSLP did in the late 1980’s.

In consideration for carrying out the entire reclamation at practically no cost as contractor for the Government, the developer will be granted a lease for 50% of the northernmost side of the reclaimed plot.

The reclamation costs will be financed by a Government owned company on a fully secured basis using funds raised from the £300 million institutional investment in Gibraltar.

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