The TNG Global Foundation was recently established in Gibraltar by Mr Tuan Tran, the ultimate beneficial owner of Trusted Novus Bank.
Trusted Novus Bank became the new name of Jyske Bank (Gibraltar) formed April 2020, and to operate under the ownership of Rooke Investments Limited.
Other headlines -
Gibraltar Government seals Eastside deal with TNG Global valued at £330m – The TNG Global Foundation will pay £90m in cash to the Gibraltar Government for the development rights of the Eastside reclamation, in a "transformational" deal that also includes projects in the area valued at a further £240m.
Why is Trusted Novus Bank entering the Buy-to-Let market?
The property market in Gibraltar has developed positively for a number of years. This is due to a combination of factors including high demand for rental properties, rental yield being 4%-6% on average and the absence of locally applied Capital Gains Tax.
With a high demand for Buy-to-Let properties, TNB recently developed a new product concept to support and facilitate the residential rental market.
Can you explain why TNB decided to explore the Buy-to-Let market?
This has been an interesting market in Gibraltar during the last few years; a big part of the property market where we have seen several developments geared specifically to the Buy-to-Let target audience (E1, Eurocity, West One, Marina Club etc.). We’ve also experienced that many property investors are interested in partners that can help fund these purchases and we are very interested in helping them with this.
More at link.
Midtown Park donated by Trusted Novus Bank – As announced by Chief Minister Fabian Picardo on Tuesday 20th July, Midtown Park has been entirely funded by the Board and shareholders of Trusted Novus Bank. This is just one of the ways that the Bank aims to show that it is a truly local Bank by giving something back to the community in which it is itself, deeply rooted.
15 April 2020 – Trusted Novus Bank Donates £200,000 To GHA COVID-19 Fund