Nov 25 - Blue Water Developers Say GSD Statement On Affordable Housing Is "Irresponsible"
Blue Water developers Worth Consulting Ltd and Camoren Holdings Ltd are surprised by the press statement issued by the GSD in respect of the Blue Water project on the Eastside, which includes both the Hassans Centenary Terraces and Bob Peliza Mews affordable housing schemes.
They said it is clear that the GSD spokesman does not have a clue of what a project of this magnitude requires, due to the lack of experience in such matters, as otherwise he would not have issued such an irresponsible statement.
A spokesman for Worth Consulting Ltd said the Government of Gibraltar, and in particular the Chief Minister, have had constructive and positive negotiations with Camoren Holdings Ltd throughout many months, in order to attract this massive investment in excess of £1.1Billion, for the good of Gibraltar, and added that the premium will be settled by their clients, when the relevant documentation is complete and ready for signature.
Joe Holliday, former GSD Deputy Chief Minister and now Managing Director of Worth Consulting Ltd said: "It is most disappointing that such an irresponsible press statement has been issued by the current GSD, when they are hoping to be considered as a serious option for Government, at the General Election tomorrow.
"I would recommend that the current GSD spokesman should stop pontificating on matters in which he does not have the required knowledge and experience. I can only assume that the spokesman is putting his party’s interest before the good of Gibraltar, as statements such as this will only discourage investors from coming and investing here.
"Inward investments such as these are complex and delicate and can easily be derailed with statements such as this. Attracting inward investment is important for the economic prosperity of this community and should therefore not be used as a political football for self serving purposes."
In addition, a spokesman for Camoren Holdings Ltd said they have worked tirelessly and have enjoyed a very good and professional relationship with the Government since being awarded these schemes earlier this year and is happy to confirm that it is finalising arrangements for the payment of the premium in respect of this development, once the required legal documentation is completed. However, it should be noted that Camoren have already invested and committed in excess of £5million over the last 12 months in the Blue Water resort, including the co-ownership schemes, in technical aspects of the preparation for the development to be undertake, including architectural designs, engineering studies, quantity surveyors, offshore piling tests etc.
Leslie Allen Vercoe, Chairman of Camoren said: "We are ready to progress with the Eastside Development, Blue Water Resort, pay the premium, sign agreements and commence construction works. The election period means the government cannot finalise the relevant framework agreement, but land premiums will be paid in full shortly and a reasonable timeframe has been agreed for the resolution of legal documentation to be finalised.
"Camoren Holdings Limited has already made considerable investment into Gibraltar and its principals are totally committed to provide new inward investment and completing this exciting scheme on program. We are disappointed that there are voices in Gibraltar apparently hoping that we are not able to deliver on this exciting development”.
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