Vittoriosa's Grand Harbour Marina has set itself an illustrious target: to be among the best marinas in the Mediterranean.
That's a tall order considering it is in competition with the glitzy ports in the south of France and Palma de Majorca. But marina manager Ben Stuart is confident the goal is attainable.
"We are the best facility in Malta," he points out. "Grand Harbour Marina (GHM) is the only one to provide night-time security patrols at sea, besides offering 24-hour security and coverage from berth masters.
"Primarily, this is a safe harbour, and our berths are defined and generous. Thanks to promotion by Air Malta, Malta is increasingly accessible, especially for superyacht owners. There is a relaxed ambience here, and we offer high standard infrastructure berthside. Besides, the more famous yacht owners can enjoy privacy in Malta."
Camper and Nicholsons Marina Investments Ltd (CNMI), one of the world's most renowned names in marina development and related services, acquired 79.2 per cent in Grand Harbour Marina plc a year ago for €16.6 million. It has been a profitable 12 months.
GHM's stock has seen a 32 per cent gain on the Malta Stock Exchange over the past year. For the period ending December 31, 2007, GHM announced profits after tax of €3.9 million up from the previous year's €742,027. Last year, turnover more than tripled to €11.1 million.
Valued at €24 million, the marina boasts 197 pontoon berths up to 25 metres and 33 superyacht berths up to 130 metres. Mr Stuart points out that the berths enjoy 127 per cent occupancy as berth availability is maximised.
CNMI's annual report says the use of the brand name and management were "instrumental" in securing the sales of three 75-metre berth licences for around €10 million late last year. Sales of around €4.2 million had been forecast originally, and seven had been sold by the time CNMI bought its stake.
Mr Stuart is keen to point out that the company has a healthy human resources development programme under which the 17 members of the team (including seven berth masters) assess themselves and set themselves defined targets. Two berth masters are qualified divers, and all personnel are certified first aiders.
Management staff has been trained in international maritime security and some members of the team will undergo fire-fighting training after the current season.
GHM has invested heavily in its primary asset: the local infrastructure which lends the marina its magical setting. A part of Fort St Angelo has been landscaped and eight berths added there, while a further 14 berths will become available at Xatt ir-Risq by the end of the year after a €120,000 investment in the area.
An area of Fort St Elmo has also been embellished at GHM's expense. Meanwhile, a fuel storage project to consolidate berthside facilities is currently underway.
GHM's management is however dismayed by the local authorities' lack of co-operation and Mr Stuart says the local council has presented GHM with "unreasonable obstacles".
"We have contributed enormously to the locality's ambiance and security," Mr Stuart points out.
"Chandlers and other service providers have sprouted in the vicinity thanks to the marina, and we have made donations to the local community.
"We cannot understand why permits to enable us to get on with our projects are refused by the local council."
Meanwhile, GHM constantly looks to increase its asset value and periodically reassesses its berth plan to make optimal use of space at the marina while meeting international yacht owners' high standards.
Mr Stuart says he would like to see the marina grow into equally picturesque Kalkara, part of the government's wide-ranging regeneration plan for the Grand Harbour.
If Mr Stuart's vision materialises, Grand Harbour Marina would double in size.
And there are other options available: last month Cabinet decided to privatise three yacht marinas operated by the Malta Maritime Authority.
The long-term improvement of standards is key to good business in this lucrative sector and Mr Stuart insists that Malta as a destination should seek to constantly raise the bar to meet the expectations of demanding visitors.
He says Ricasoli's Smart City too will bring with it potential business for Grand Harbour Marina.
"Yacht owners who work in Malta are thrilled to find that their boat is berthed just a quarter of an hour's drive away from their office or residence, unlike many other places in the world."
The glamour is certainly not lacking with the second Bailli de Suffran classics race from St Tropez to Malta and the Middle Sea race hosted at the GHM.
The only element that probably is lacking is a handful of designer boutiques.
Giorgio Armani reportedly did not leave his boat when she berthed at the Grand Harbour Marina earlier this month, but maybe members of his party had a look around for possible locations...