"Opposition considers that it would be manifestly unfair to developers of commercial office space in Gibraltar that the Government should support the Mid Town project to the exclusion of all others.
There are obviously a number of other developers of office space in Gibraltar who would not be so lucky as to benefit from Government patronage in the way that is planned for Mid Town.
The Government have given the lack of bank finance as the reason behind their decision to support the Mid Town project. They have not explained why this particular project was chosen ahead of all the others for Government support. It is logical to assume that a lack of bank finance is a problem which faces all developers in Gibraltar and not just one group. In such cases it is up to the developer to find alternative sources of private finance which will allow the project to go ahead. This could take the form of entering into a joint venture with another investor or selling part of the project to a private entity with the necessary liquidity to be able to proceed, says an Opposition statement."
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