A major land reclamation project which will see some 60,000 sqm of new land added to the colony has been given planning approval by the Gibraltar government.
The reclaimed land will provide approximately 100,000 sqm of residential and commercial buildings and will be called “Victoria Keys.”
The reclamation costs will be provided by the government who has earmarked nearly €50 million for the initial works and the remainder from a consortium of builders and investors totalling €300 million.
The Spanish government have no power to stop the development nor appeal the project´s go ahead.
However as much of the materials for the construction are set to come from neighbouring Andalucia and the regional government has not voiced any objections – indeed around some 5,000 Spanish workers cross to the colony each day – a figure likely to increase with the project.