MIA to build €16m business centre

MIA plc last Wednesday unveiled plans for a €16 million business centre to be built adjacent to the Gudja airport terminal. The nine-storey centre, for which planning permission applications have been filed, is expected to be completed in the second...

MIA plc last Wednesday unveiled plans for a €16 million business centre to be built adjacent to the Gudja airport terminal.

The nine-storey centre, for which planning permission applications have been filed, is expected to be completed in the second half of 2011. Vodafone Malta will be the first anchor tenant and a lease agreement was signed on Tuesday.

The centre will incorporate two levels of underground parking and five floors for office space. Other floors will be occupied by retail and food and beverage establishments.

The project will occupy a footprint of 3,100 square metres while the total rentable area, excluding the parking areas, will be around 14,000 square metres.

MIA plc, which is seeking to diversify revenue generation and recently extended and refurbished of the terminal, will meet on Thursday to consider and approve the company's interim financial statements for the six months to June 30. The board will also consider an interim dividend payment.

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