Stress on quality leisure and entertainment

Valletta Waterfront yesterday launched the next phase of its €25 million project, which aims at providing quality leisure and entertainment facilities for cruise and ferry passengers and the public.

Viset plc, the consortium in charge of the project, said it was now receiving expressions of interest from operators in the leisure and entertainment business and from other businesses wishing to lease a property 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 all tenancy agreements for outlets opening in 2005 will be concluded by November, giving operators the time they need to have their facilities ready to start operating from June.

"At the same time, we will also start negotiations with those companies interested in investing in the space which will become available after 2005," Valletta Waterfront's chief executive officer Chris Falzon said.

Valletta Waterfront is due to be transformed into a 24-hour destination in a historical setting with views and a guaranteed market of over 500,000 cruise liner passengers every year. These facilities would also be fully accessible to the Maltese public.

"The backdrop 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 anyone interested in making the most of this investment opportunity now has the opportunity to learn more," Valletta Waterfront business manager Dirk Spiteri Lucas said.

He said the venues along Valletta Waterfront would serve as a great al fresco venue just at the water's edge in the newly excavated Laguna.

The Laguna would have a walk-way for people who wanted to go for a walk at the water's edge. There would also be ample car parking space taking up to 3,155 cars in the evenings.

The first edition of the Valletta International Wine Fair, taking place at Valletta Waterfront at the weekend, would showcase the potential of Valletta Waterfront as a centre for entertainment and culture.

Mr Spiteri Lucas said Valletta Waterfront would not just be about cruise liners and leisure. There would also be office space on the first and second floors of the Pinto Stores.

The completion of the cruise liner terminal facilities and the rehabilitation of Pinto Wharf would bring to an end the first phase of the project, expected to employ about 600 people.

Between 2005 and 2007, work would continue on other aspects of the development. These included the redevelopment of the old power station and the nightlife area, which would be located just behind the Waterfront and set in rooms dug into the rock, providing an ideal spot for late night entertainment.

Other sectors of the project include The Atrium, which would be located at the centre of the project. The reconstruction of The Atrium façade, destroyed during World War II, was completed last year.

The Forni Shopping Area was to be located within the Forni Stores, built by Grand Master De Vilhena in the 1720s. The façade of the stores has been restored and the shopping area at the Valletta Waterfront was to be completed by 2006.

Along the Waterfront, various pubs, cafés and restaurants would all be located in the 252-year-old vaults built by Grand Master Pinto.

The company would also be introducing a cable car which users would be able to use to go to Valletta.

www.vallettawaterfront.com