We are delighted to hear that the TNG Global Foundation was successful in its bids for(1) Bayside/St Anne's site and (2) the Eastside Project - promising two exciting new developments in Gibraltar.
(1) Bayside/St Anne's site
TNG Global Foundation will purchase this site for £21.2million and has agreed to develop two new schools for Gibraltar at the Europort site before being granted vacant possession of this site.
The new development promises to complement its neighbourhood - bringing leisure, residential, commercial areas to this site.
(2) Eastside Project
TNG Global Foundation will make a £90 million payment to HM Government of Gibraltar subject to Environmental Impact Assessment certificate and the grant of Outline Planning Permission. They have committed to carrying out further works and creating amenities with an estimated value of £240 million.
TNG is confident the Eastside project will be transformational for Gibraltar, transforming the Eastside “into a hub of economic and leisure activity, providing social and economic benefit to Gibraltar on a scale that we believe will be unprecedented" said a spokesperson for TNB.
Photo credit: Johnny Bugeja
"Given the current political and public health circumstances that surround us, this is a “huge vote of confidence in Gibraltar and its economy”