The Gibraltar Football Association will purchase the Victoria Stadium from the government for £16.5 million in order to develop it as its national stadium.
The funding for the purchase, as well as a further £15 million for the development of the site into a category 4 stadium, has been provided by FIFA and UEFA.
The government says it will reinvest the money from the sale into two major sporting developments at Lathbury Baracks and Europa Point.

The Government has introduced a scheme aimed at stimulating the quick construction of properties for rental to what it describes as “key staff” presently living in Spain. The measure was announced at Budget Time and details were provided by the Chief Minister during Thursday’s session of Parliament. Purchasers who buy a property built in the next 30 months will be entitled to rent it, tax-free, for a period of two years.

A Skywalk at the top of the Rock is expected to be completed in the coming weeks. Not for the faint hearted, the glass structure will allow people to walk over the cliff face and enjoy the magnificent views. Because of its location, construction can only progress during mild weather but project manager, Carl Viagas, is confident it will be completed before the summer.

The Opposition says the apparent delays by the Government in moving forward with its capital projects is causing concern in the construction industry, and affecting the viability of some companies and businesses. It claims there’s been a 30 per cent reduction in the number of employees in the construction sector in the year to September 2012, and says that even if these are mainly Spanish workers it still represents a significant loss of jobs and revenue from PAYE.