24/05/2022
TNG Global Foundation (โTNGโ) is delighted to announce that it has obtained Outline Planning Permission (โOPPโ) for the development of the Eastside project.
The application for OPP (which included the submission of comprehensive Environmental Impact Assessments) was heard on 22nd April 2022, and the Development and Planning Commission resolved to approve the OPP unanimously (subject to conditions).
TNG is especially excited about the prospect of delivering a signature project that will positively transform the East side of Gibraltar. TNGโs plans for Eastside will cement Gibraltarโs place on the map as a prestigious destination, providing the community with a sleek, modern, exciting development that will be a social meeting point for families to enjoy ample leisure facilities such as restaurants, cafes, the marina and other amenities, including a large botanical garden.
The plans for the Eastside project will have the additional benefit of removing the rubble tip that has accumulated in the area as an eye-sore for over 25 years. This will be enormously satisfying to everyone, but particularly to the residents of Catalan Bay.
The construction at the Eastside of affordable homes, berths for small boats, and 500 parking spaces (which will be free to use for beachgoers during the peak Summer months), will maximise the use of the development for the benefit of the local community. TNG has also agreed to take-over the cost of the revetment works at the site of Hassans Centenary Terraces, highlighting its commitment to assist the Government of Gibraltar and the wider community with much-needed infrastructure works in the area.
TNG has the platform, resources and drive to create a vision for a mixed-use area that will complement and add value to its surroundings, making it a vibrant entry-point to Gibraltar, well positioned to attract visitors to the Rock, and to service the local community.
The project will be developed over a period of around 10 years, and TNG is well alive to the importance of doing so sensitively. It will embrace the history, culture and uniqueness of the Catalan Bay beach and village, as well as Gibraltarโs wider heritage and history as the gateway to the Mediterranean. At the same time, TNG will focus on delivering a project that is environmentally sustainable, to include the latest technology and know-how in this sector, a factor that was positively highlighted by the DPC during the application for OPP.
TNG has a clear vision for a project that has been described by the Government of Gibraltar as โtransformationalโ. This is geared to complement and improve Gibraltarโs landscape by building a development that will blend into the social DNA of our homeland.
TNG is already an important partner to Gibraltar and its people, and wants to continue to be so. This partnership commenced with the acquisition by TNGโs founder (at the very start of the pandemic) of Jyske Bank (now Trusted Novus Bank (โTNBโ)) at a time when Gibraltar otherwise faced the prospect of another bank leaving our shores, thus preserving over 100 jobs and thousands of customer relationships.
The social partnership was further enhanced with TNBโs donation of ยฃ200,000.00 to the GHAโs Covid Fund during the initial stages of the pandemic.
Soon thereafter, TNB, on behalf of its Board and Shareholder, agreed to make a donation of ยฃ3,900,000 to cover all the costs of Campion Park, thus further cementing its relationship with Gibraltar and the community. TNG is currently building 2 brand new schools for the Government of Gibraltar, and will thereafter embark on another exciting mixed-use development in the Bayside area.
TNG remains committed to continue liaising with the Government of Gibraltar and with other stakeholders, when considering other projects to invest in. This will serve to further enhance TNGโs relationship with Gibraltar and its people, as well as allow TNG to continue contributing to Gibraltarโs social and economic future.
TNG Global Foundation
