The Chief Minister today delivered an address at the official groundbreaking ceremony for the Elysium Bayside project. 

A statement from the Government follows below:

The Chief Minister, the Hon Fabian Picardo KC MP, today delivered an address at the official groundbreaking ceremony for the Elysium Bayside project. The event marks the start of a landmark development at the gateway to modern Gibraltar, just as our frontier and our economy opens up to the whole of Europe. 

The Chief Minister highlighted that the transition of this plot from the former Bayside Comprehensive and St Anne’s schools to a first-class residential hub maintains a direct link to the community's future. The high premium secured for this landwas centralto theGovernment’s ability to fund the new Bishop Fitzgerald and Governor’s Meadow schools, which are already being enjoyed by Gibraltar’s children as ground is broken on this site. 

Reflecting on the international nature of the project as a mirror for Gibraltar’s own outlook, the Chief Minister noted the fusion of Italian design and significant investment from Vietnam through TNG Realty. He stated thatfor centuries, Gibraltar served as the UK’s gateway to the East, and this partnership now brings that relationship full circle through modern commercial investment. 

The Chief Minister,the Hon Fabian Picardo KC MP, said: ‘The imminent removal of the frontier will position Elysium Bayside strategically as one of the most attractive addresses for those wishing to live within walking distance of the Schengen area and the European Union. The Government welcomes the investment and expertise of the developers in bringing this magnificent design to fruition. Projects like this are good for all taxpayers are they help us to attract government income from outside, which keeps our tax rates low and our public services, scholarships etc fully funded. All Gibraltarians should therefore welcome projects like this. I am very pleased this is going to beautify and add services for the people who live in the areas of Glacis and Laguna.’