With one of the highest population densities on the planet, housing has always been an issue in Gibraltar.
Looking down over the City from the Upper Rock the viewer will be struck by how cramped Gibraltar was before the land reclamations of the 1990s.
Successive governments since the 1930’s have tried to solve the problem, but it was only with effect from the early 80’s that government homeownership schemes finally started to make a positive impact and incidentally created a growing property owning class among Gibraltarians.
Building developments in Vineyards , Brympton and the large project on the Westside reclamation are now to be joined by the Hassans Centenary Terraces, a development announced in early December to be built on the East side, Mediterranean facing reclamation.
The Chief Minister of Gibraltar, Fabian Picardo alongside Deputy Chief Minister Dr. Joseph Garcia and Minister for Housing Samantha Sacramento made the official announcement on Friday 7th of December, stating that the Hassan Centenary Terraces development will begin construction in June 2019, with an expected completion after 30 months of the starting date.
Minister Sacramento explained:
“We want to ensure that the process is as fair as possible to everyone. The first priority for allocation will be given to those who currently are government housing tenants and will be giving vacant possession of their tenancies.
“We will also give priority to people on the 1 bedroom [housing allocation] list […] this gives people the opportunity for their families to grow.”
The high rise development has been designed by the prestigious Gibraltarian firm WSRM Architects. 665 apartments in 6 blocks will, together with 27 maisonettes be run on a condominium style basis of the kind now familiar throughout Gibraltar where apartment buildings are run by management companies; maintained by service charges and managed by the owners themselves.
Up to 50% of the purchase price will be available on a co ownership basis i.e. by contribution from Government and buyers will be able to obtain mortgages in the open market for the balance.
There will be sale restrictions and priority will be given to buyers who surrender government tenancies and those who are in the housing waiting list.
Those who are interested can access full information and brochures of the development and submit an application at www.hassancentenaryterraces.gi
The application process will close at midday, 31st of January 2019.