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PRESS RELEASE BY THE MINISTRY FOR TOURISM

Reference Number: PR190217, Press Release Issue Date: Feb 04, 2019
 

The Government has on Monday convened the Environment and Development Planning Parliamentary Committee to provide an update on the Corinthia St. George’s Bay Regeneration. The Minister for Tourism has also explained the outcome of the second round of discussions with IHI and how the Government is addressing genuine stakeholder concerns. The Government highlighted the new contractual aspects agreed with IHI with regards to this project. Discussions are currently ongoing on other matters.


The developments addressed are highlighted below: 

     No land reclamation;

     The declassification of the foreshore in the area will not be pursued;

   At least 50 % of the site is to remain focused on tourism-related development, hard and soft landscaping and other open areas thereby ensuring that the project will feature a high degree of external, landscaped areas;

     Increased ground mechanism triggered by the Government of Malta;

   Volume of residential property that may be released on to the market at any point capped at 25,000 sqm;

    For any transfer of unfulfilled development obligations, the Government of Malta needs to provide consent for any transfer of unfulfilled development obligations;

   A joint project monitoring committee will be set up to oversee project deliverables.

The Government will provide updates to stakeholders and the relevant Parliamentary Committees once discussions evolve further and contracts drafted.

Government reiterates that all aspects of the project will abide by full environmental and planning processes. ​