Aug 27 - YGTV Exclusive: Emirates Developer Proposes Mixed-Use Eastside Project
The Armada Group, a developer based in the United Arab Emirates, has put forward a mixed-use proposal for Gibraltar’s Eastside that would include an iconic luxury hotel, a number of residential and commercial complexes and even a “FIFA approved football pitch.”
Described as a “legacy for all involved,” the plans also mention facilities “for all of Gibraltar and its visitors to enjoy” including medical and educational amenities, recreational spaces, pools and beaches.
The Armada Group’s Eastside submission aims to open up several new opportunities for growth and future investment like medical tourism and international sporting events.
The developer also says that it seeks to work closely with the Government to explore opportunities for affordable housing and employment.
Initial designs, shown here, were provided by Fender Katsalidis Architects who submitted this detailed proposal in 2007. The Armada Group says it will approach Fender to restart the project should its bid be successful.
Government Vision
The Government paid £28 million to buy back the Eastside last October. Following the purchase of the land, the Government called for expressions of interest from developers, investors and organisations. The brief was to piece together a “holistic plan for the comprehensive development” of the reclaimed land. It is understood that a number of developers have submitted proposals in the past few months and the deadline for general submissions has now expired.
Investors have also been encouraged by the recent news that the European Commission has concluded that the reclamation does not infringe any EU directives.
Breakwater
The announcement follows reports last week that Kjerulf Ainsworth, a wealthy Australian magnate, had submitted his own separate proposal for the Eastside.
However, according to the Gibraltar Chronicle, Mr Ainsworth expressed reservations about the wisdom of such an investment in the absence of a breakwater. Mr Ainsworth suggested that the Gibraltar Government could build this necessary protection for a future marina in a bid to attract investors.
With reference to the need for such a structure, a spokesperson for the Armada Group said that they have consistently “pushed engineering boundaries,” with Dubai “growing from a desert to the world’s most technologically advanced city in ten years.”
The construction of the breakwater will be undertaken by the Armada Group so this, according to the developer, is not to be regarded as “an insurmountable problem” but a “challenge that can be overcome.”
The group also supports the proposed opening up of a tunnel linking the Eastside to the centre of town to reduce congestion and cut travelling time to and from the new residential and leisure hub.
Armada Group
The Armada Group is one of the four largest developers in the Emirates region. It is responsible for a vast portfolio of healthcare, fitness and spa facilities, real estate development, contracting and facilities management, and hospitality ventures. One of the most high-profile projects the Armada group has been involved in recently is the exclusive Armada Towers development in Dubai (pictured).
Described as one of the original contributors to the Dubai property boom, it remains at the forefront of future development in the Emirates.
The group is privately owned and managed by the billionaire Doctor Rahif Hakmi and partnered by the Sharjah Royal Family.
A statement from the group said: “The Emirates and Gibraltar make ideal partners and mutual cooperation between the two entities can only strengthen both communities. Gibraltar is an ideal platform for a large Emirates developer to base itself for future operations in Europe.”
Dr. Jamal Boulfelfel, General Manager of the Armada Group commented: “The Armada Group has expressed a formal interest in the Eastside development. We have asked the Government of Gibraltar to invite us to proceed with the project. We will deploy our full resources to produce a scheme, incorporating all of the above, in an open forum. And then we will build it. The Emirates model works; we will bring it to Gibraltar.”
