Most importantly, WTC Gibraltar has quickly attracted tenants and is already two-thirds let, something which the developers put down to the certainty and stability of developing within the private sector.

“There’s no doubt that WTC Gibraltar has already provided a significant boost to the economy and not just through the build process,” said Pete Burgess, Sales and Marketing Director of WTC Gibraltar. “It has already attracted enormous interest from companies already based in Gibraltar but most importantly, also from companies looking to move to the Rock for the first time.

“By delivering the project through the private sector, Gibraltar’s government has ensured that the jurisdiction has a good supply of category ‘A’ office space that is ready to go. It is even possible that some of the world-class companies that we have seen taking space in WTC Gibraltar, have looked at Jersey but decided against it because of development delays.

“Whilst WTC is a private development, we work hand-in-hand with government to make Gibraltar an attractive destination for business. For instance, by ensuring that the Rock is connected to the new Europe–India fibre-optic cable delivering data speeds of 3.2 Tb per second, we have been able to promote both WTC Gibraltar and the jurisdiction itself as an e-business centre for the future.

“From a planning perspective, we have had to go through the same processes as everyone else and this has ensured that WTC Gibraltar has been warmly received by the community here. Now, it is up to us to ensure that WTC Gibraltar remains the foremost business centre in the British overseas dependencies and territories.”