News

£1.1bn Gibraltar development

Mon, 09 November 2015

A major marina development that is scheduled to start construction on the east side of Gibraltar is being undertaken as part of a significant development to make Gibraltar a more attractive home for super yachts. Previously all of the marina development in this British Overseas Territory has been focussed on the west side of the peninsular around the naval dockyard and harbour.

Costed at around £1.1 billion this new development will extend out from the shore in an area towards the north of the rock and close to the airport runway. The site is a 38 hectare brownfield site that was reclaimed 10 years ago by the Government of Gibraltar and then sold off for development. The Government repurchased the site in 2013 for £28 million and to facilitate the new development of the marina it has now been sold to Camoren Holdings for £83 million.

Gibraltar registered Camoren Holdings is the company behind the development of the proposed Blue Water complex. With all the required permissions now is place they plan to start construction work this year with completion scheduled for 2018. "The £1.1 billion figure is the total cost of the entire development which will include luxury apartments and commercial buildings with about 25% of the total amount directly invested in the superyacht marina." said a spokesperson for Camoren.

Included in the purchase of the site was a pile of rubble left over from the initial reclamation work and this will be used in the building of the new sea wall that will enclose the marina. When completed this wall will enclose a large rectangular area with the marina entrance on the more sheltered northern side. The outside piers will be protected by tetrapod wave dispersion concrete blocks and with a minimal tidal range the inner jetties will be fixed rather than floating.

There will be a 10 metre depth in the entrance channel and the berths inside the marina will be able to accommodate yachts from 40 to 185 metres in length. The shore facilities will include a range of apartment blocks as well as hotel and restaurant facilities.

In addition to this east side development further yacht facilities are being development on the west side of the rock where a new 700 berth marina for smaller yachts is being developed within the old naval harbour and additional superyacht berths are also planned. Repair facilities will be available through Gibdock that operates the dry dock and facilities previously as part of the naval dockyard.

Source: Dag Pike; http://www.maritimejournal.com/news101/marine-civils/marine-civils/1.1bn-gibraltar-development

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