The Government of Gibraltar said that a final agreement has been signed with TNG Global Foundation to create a new land reclamation area within the northern half of the inner harbor.
This agreement will see an area of land of approximately 47,000 square meters (almost half the Eastside reclamation) created along the front of the westside reclamation.
Also, the project – in keeping with the original designs for Europort in the 1980’s – has been designed to preserve the swimming pavilion area.
The new land will be created at no cost to the Government, with the costs being met by TNG Global Foundation will be covered through exchange for a part of the newly reclaimed land.
According to the contract, the Government will keep the larger proportion of the reclamation to meet its objective of building the next program of affordable housing estates on it.
It is expected that the project will start within the next few months.