28 Sep, 2023 @ 09:09
1 min read

New homeowners in Gibraltar get keys to cost price towers overlooking Eastern Beach

THE first residents of the shiny, new towers overlooking Eastern Beach got the keys to their affordable homes on Wednesday.

The first phase of Hassan Centenary Terraces was completed this month and Gibraltar Residential Properties (GRP) gave owners the chance to start to move in.

All those in Category 1 will now receive the keys to their homes in the following days as they have released government rental flats to buy their properties.

The Hassan Centenary Terraces towers form part of the second batch of affordable homes provided by the GSLP/Liberals.

Beach View Terraces and Mons Calpe Mews were part of the first raft of affordable homes.

The government released the homes with the 50-50 scheme that allows buyers to pay half the cost price.

Now the first phase of Hassan Centenary Terraces is complete, GRP – that manages the properties for the government – will distribute draft documentation to buyers’ lawyers.

“This will allow for completion by these purchasers to take place as soon as the purchaser have placed their lawyers in funds for the purchase, either through mortgages or otherwise,” the Gibraltar Government said in a statement.

As well as the second phase of Hassan Centenary Terraces that is already underway, the government is building more homes closer to town.

Constructors already started work on Chatham Views at the site of the old Westside Comprehensive School and Bob Peliza Mews where the old Waterport power station was located.

“We promised to deliver affordable and sustainable homes to the people of Gibraltar during our time in Government,” Chief Minister Fabian Picardo said in a recent statement.

“I am pleased to say that we have not only done that, but that we have managed to deliver more affordable homes than any other Government in Gibraltar has done before.”


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