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Business • June 06 2004


Valletta Waterfront enters new phase of development

- completion of Pinto Wharf renovation targeted for June ’05
- expressions of interest open for leisure, entertainment outlets

Valletta Waterfront this week launched the next phase of its EUR25 million project intended to provide leisure and entertainment facilities for cruise and ferry passengers and the Maltese public alike.
VISET plc, the consortium in charged with the Valletta Waterfront development project, on Tuesday announced it is now welcoming expressions of interest from operators from the leisure and entertainment sectors. The consortium is also welcoming expressions of interest from businesses looking for prestigious office space at the restored Pinto Wharf.
“In a couple of weeks’ time Valletta Waterfront will begin holding detailed briefings when prospective tenants will be invited to view the facilities and then submit their business plans. We are determined that by November 2004 all tenancy agreements for outlets opening in 2005 will be concluded, giving operators the time they need to have their facilities ready to start operating as from June. At the same time we will also start negotiations with those companies who are interested in investing in the space which will become available after 2005,” explains Valletta Waterfront Chief Executive Officer Chris Falzon.
The facilities at Pinto Wharf are expected to provide an attractive investment opportunity for operators in the leisure and entertainment business. Valletta Waterfront will provide a unique 24-hour destination in a historical setting with great views and a guaranteed market of over 500,000 cruise liner passenger every year. The facilities will also be fully accessible to the Maltese public.
Valletta Waterfront Business Manager Dirk Spiteri Lucas elaborates, “The back drop of Fort St Angelo and the historic setting of Pinto Wharf provide a magnificent setting for a wide range of different activities, from dining al fresco to arts and music festivals as well as other special events. As from June 2005, Valletta Waterfront will be one of the main commercial centres in Malta and any one who is interested in making the most of this investment opportunity, now has the opportunity to learn more.”
The venues along Valletta Waterfront will also serve as an al fresco venue at the water’s edge in the newly excavated Laguna. The Laguna will have a walkway for those wanting to go for a walk at the water’s edge.
The first edition of the Valletta International Wine Fair, taking place at Valletta Waterfront this weekend, will also showcase the potential of the development as a centre for entertainment and culture.
Spiteri Lucas adds, “Valletta Waterfront will not just be about cruise liners and leisure. There will also be office space on the first and second floors of the Pinto Stores. This space will surely be unique, set in historic spacious rooms with a magnificent view of the Grand Harbour. Any company wishing to set up business at Valletta Waterfront will benefit from being in one of the most impressive and prestigious locations one can imagine.”
The completion of the cruise liner terminal facilities and the rehabilitation of Pinto Wharf will bring to an end the first phase of the project. Between 2005 and 2007, work will continue on other aspects of the development. These include the redevelopment of the old Power Station and the Nightlife Area, which will be located just behind the Waterfront and set in rooms dug into the rocks, providing an ideal spot for late night entertainment.
Other sectors of the Valletta Waterfront project include The Atrium, which will be located at the centre of the project. The Atrium will include a major attraction as well as a crafts centre, bar, various family entertainment areas, gaming centre and other entertainment facilities. The reconstruction of The Atrium facade, destroyed during the Second World War, was completed last year. It is now also the home to Grandmaster Pinto’s bust - a bronze replica of the original found in the National Museum.
The Forni Shopping Area will be located within the Forni Stores, built by Grand Master De Vilhena in the 1720’s. The façade of the stores has been beautifully restored and the shopping area at the Valletta Waterfront will be completed by 2006.
Along the Waterfront, various pubs, café’s and restaurants will all be located in the 252-year-old vaults built by Grand Master Pinto. These vaults which used to house various supplies for the Knights’ galleons will now offer a unique setting for the various food and beverage outlets.

 

 

 

 





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