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SALES OFFICIALLY LAUNCH AT EUROCITY

SALES OFFICIALLY LAUNCH AT EUROCITY – GIBRALTAR’S LANDMARK MIXED USE PROJECT, FOLLOWING BOOMING DEMAND

Bentley Investments, one of Gibraltar’s major real estate players, is officially launching public sales at 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. The launch comes after a staggering 105 apartments were snapped up in just 19 days off-market, signalling confidence in the project, which is projected to deliver rental yields of up to 8%.

Designed by the award-winning British Manser Practice of Architects, led by Jonathan Manser, EuroCity is situated in Gibraltar’s central business district, punctuated by three sustainable towers – Carrara, Murano and Porcelana – including the territory’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 Olympic lap pool. There will also be an on-site property management company, as well as a new concierge app that will allow residents to do everything from their fingertips.

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: “The initial off-market response to EuroCity has been overwhelming, a testament to our vision 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 – as evidenced by the appetite from both investors and owner occupiers.”

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 combination of mild Mediterranean climate, favourable tax system, almost non-existent crime rate and a rapidly expanding economy make it a rock solid proposition for the future, which will be further bolstered as landmark projects like EuroCity come to fruition.”

Situated on the southern tip of Spain, Gibraltar is easily reached from the UK (2.5 hours), Europe and beyond. The Rock houses a rapidly expanding economy which includes gaming, insurance, fintech and financial service, while 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.

Sales are currently active at Murano, one of the three towers at EuroCity, with a mixture of studios to five bedroom apartments and penthouses, ranging from between £165,000 to well over £1m.

For more information:
EuroCity Gibraltar >

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