NHBC's Inspection Expertise Rocks Gibraltar 19/10/06

For the first time in its 70-year history, NHBC, the UK's standard setting and leading inspection body for new homes, is entering the international market by providing building inspection services to Gibraltar's flagship developments Ocean Village and 'The Anchorage'.

This link marks a new chapter for NHBC who will be working in a new jurisdiction with largely Spanish contractors to help raise the standard of new home construction.

With the fastest growing economy in Europe, Gibraltar's off shore status is attracting many organisations from the finance and insurance sectors, and the Rock has an exciting future ahead with even more prestigious developments planned.

Ocean Village aims to set a new standard of living on the Rock and their most recent phase which sold out earlier this year will add two further buildings of 165 luxury apartments to the existing 133 luxury apartments due to complete in January 2007. All Ocean Village residents will have access to the 35,000 sq feet of private pools and gardens.

Greg Butcher, Chairman of Ocean Village, sees working with NHBC as an important means of helping to raise the quality of residential construction in Gibraltar. He says: "We are proud to have been the first developer in Gibraltar to contract the services and support of NHBC, it means that purchasers of Grand Ocean Plaza and Majestic Ocean Plaza will have added confidence in the standards we have always endeavoured to achieve throughout Ocean Village."

"We've always strived for the best - the best build quality, the best finishes, the best fittings and we now have an extra layer of quality auditing to ensure that we deliver what we have always promised."

The prestigious 'Anchorage' development in Gibraltar's south district is an exclusive gated residential project comprising town houses, penthouses and apartments set in landscaped gardens enjoying extraordinary views of the magnificent Straits of Gibraltar.

For Commercial Developments Inc Ltd (CDI), developers of The Anchorage, the participation of NHBC as part of the construction supervision and inspection regime, serves to endorse the high construction standards which the developers have set for this low density development.

Alfred Bassadone, Managing Director of CDI, highlighted that the building contract for 'The Anchorage' was specifically awarded to Volker Stevin Construction, a Dutch contractor, based on their proven record of delivering quality projects on time. Alfred said, "the choice of contractor and the appointment of NHBC demonstrates our level of commitment to achieving high standards that local and international clients rightly expect".

Imtiaz Farookhi, NHBC's Chief Executive, says: "It is tremendous news that NHBC's experience and expertise is in such demand. We are pleased to work with these developers and use our experience and skills to influence positively the standard of new home building in Gibraltar."

ENDS

Notes to editors

• Accompanying photographs, including photos of the developments, are available - please e-mail mblamey@nhbc.co.uk
• NHBC is a world leader in warranty and insurance for new homes. Its primary aim is to raise standards in the new house-building industry. As well as providing consumer protection for new house buyers in the UK, NHBC raises standards by registering builders who agree to comply with NHBC's Rules and Standards, setting and maintaining technical construction standards for new homes and inspecting at key stages of construction. NHBC has over 20,000 house builders on their register in the UK.
• The relationship between NHBC, Ocean Village and Commercial Developments Inc Ltd will be the first time that developers and the organisation have teamed up on the Rock, working together to raise the standards of construction in Gibraltar.