GIBRALTAR CELEBRATES OPENING OF WORLD TRADE CENTER IN THE FACE OF BREXIT
February 15th, 2017
GIBRALTAR - In spite of a locally unpopular referendum result last June, the business community of Gibraltar is pushing ahead. With 90% of Gibraltar’s business and services in the EU single market being conducted with the UK, investors on the Rock have continued optimism for economic growth.
This optimism was epitomized at World Trade Center Gibraltar, when the Chief Minister and Deputy Chief Minister joined forces with developer, Gregory Butcher to conduct the official opening ceremony, with key international and local stakeholders in attendance.
The historic opening of this state-of-the-art, 254,000 square foot Grade A office building presents the newest addition to the World Trade Center Association network, which encompasses 91 countries around the globe, promoting international prosperity through trade.
In an era, when the concept of international trade is under threat, this investment totaling in excess of €100,000,000 over several years, signifies Gibraltar’s commitment to work towards the common goal of collaboration with international partners, rather than a future of isolationism.
At conception of the World Trade Center’s original brand in 1939, the World’s Fair in New York aspired towards “world peace through trade”. It is hoped by the developer that World Trade Center- Gibraltar will be a beacon for promoting international trade in the coming days, weeks, months and years, whilst Brexit is negotiated.
Chief Minister, Fabian Picardo said:
“We are proud to be here today to inaugurate Gibraltar’s first World Trade Center. Brexit is not the beginning of the end of Gibraltar, it’s actually just the end of the beginning, and the arrival of this first World Trade Center is Gibraltar saying to the world: “Here we come!”
The developer Gregory Butcher said, “It’s wonderful to see this project finally become a reality and for so many people to experience for themselves the new standard that World Trade Center Gibraltar has set. Gibraltar is a service economy and it’s imperative that we can offer the major businesses that are already here, and international businesses looking at Gibraltar as a potential jurisdiction, the kind of working environment they demand in order to stay competitive.”
Alongside a line of major international tenants that have taken space, including serviced office heavyweights, Regus, the head office for popular gaming company, Bet Victor, eminent accountancy firms such as BDO and one of the leading coffee brands, Costa Coffee, the new office building is home to a plethora of budding entrepreneurial SMEs including some of the world’s most exciting financial services innovators; these new SME occupiers can now enjoy the benefits of World Trade Center Gibraltar community, working alongside major occupiers and putting their organisations on a global footing.
“There is fantastically diverse range of companies that have decided to base themselves at World Trade Center Gibraltar” continued Mr Butcher. “We have a range of financial services tenants including insurance companies, Family Offices and Wealth Managers, e-money companies and gaming businesses, all of whom are taking advantage of the state-of-the-art infrastructure which enables trading on the London markets in 1 / 35,000 th of a second. Without this they would simply not compete within the advanced international marketplace.”
World Trade Center Gibraltar is both a significant addition to the WTCA network and an essential platform, which will support Gibraltar’s future growth plans and ambitious economic objectives.