A first look at EuroCity – Gibraltar’s landmark mixed-use project

February, 27 2018

Bentley Investments, one of Gibraltar’s major real estate players, has revealed the first new CGI of EuroCity, an innovative 366 home mixed-used project that is set to raise the bar and change the face of the resilient, pro-blockchain British Overseas Territory.

Designed by the award-winning British Manser Practice of Architects, led by Jonathan Manser, EuroCity is situated in the central business district, punctuated by three sustainable towers including Gibraltar’s tallest at 22 storeys, with views towards Spain, Africa and the Rock.  Entered via stunning and distinctive entrance lobbies, the generously proportioned, high specification apartments will sit amongst landscaped raised piazzas designed by RHS Chelsea Flower Show winner Andy Sturgeon along with a range of amenities including 24 hour concierge, car parking, a gym and three swimming pools including a 25m lap pool.  There will also be an on-site property management company.

At ground level, swathes of high quality retail and commercial space will help to deliver a pioneering destination for families, businesses and professionals alike.  The rest of Gibraltar is mostly reachable on foot, with good schools, restaurants and a Morrisons supermarket nearby, while the recently upgraded international airport is just a five minute drive away.

Evgeny Cherepakhov, Chairman of Bentley Investments, whose previous West One project sold out in just four days, comments: “Our vision is to bring international standards of design to Gibraltar, combining luxury resort living with an already established global business centre to create a year-round destination. EuroCity combines first class sustainable architecture, lush landscaping, management and amenities – there is no other development like this in Gibraltar. It offers the chance to invest in a product that will eventually change the face of the Rock and become a benchmark for future developments.”

Mike Nicholls, Managing Director of Chestertons Gibraltar, comments: “The Gibraltar property market has remained robust, with little sign of faltering in the face of Brexit uncertainty. The Chestertons Gibraltar website saw a 41% rise in traffic in the 300 days after the referendum vote, compared to the same period before, with viewers from over 153 countries. Gibraltar is seen as an attractive, safe haven for high net worth individuals and property investors alike and we expect this appeal to grow as projects like EuroCity come to fruition.”

Situated on the southern tip of Spain, Gibraltar is easily reached from the UK (2.5 hours) and Europe, enjoying a mild Mediterranean climate. The Rock has a favourable tax system and a rapidly expanding economy which includes gaming, insurance, fintech and financial services. Property demand continues to outstrip supply, with circa 13,000 Gibraltar employees living in Spain, many of which would choose to live in Gibraltar if suitable properties were available. Currently there are around only 250 homes available on the open market for purchase and about one tenth of that available to rent.*

Gibraltar’s Government is innovative and forward-thinking. In January, the Gibraltar Financial Services Commission (GFSC) became the first jurisdiction in the world** to introduce a regulatory framework for companies involved with DLT (Distributed Ledger Technology, commonly known as blockchain) – the backbone of cryptocurrencies including BitCoin and Ethereum. This open approach is expected to attract investors and businesses, particularly fintech companies, who understand the appeal of a decentralised – yet regulated – alternative currency. This is further bolstered through the emerging Gibraltar Blockchain Exchange (GBX), which aims to be a world-leading institutional-grade token sale platform and cryptocurrency exchange, supported by its Government.

The first phase of sales is expected to launch in April. To find out more, please visit: http://eurocity.gi/

* http://www.chestertons.gi/blog/what-uk-general-election-means-gibraltar-property-market-162