'No relation between Dubai World, SmartCity Malta and Go' - Gatt

Dubai World is the property of the government of Dubai, while Dubai Investment, ultimate owner of SmartCity Malta, is the personal property of the Sheikh of Dubai. There is therefore "absolutely no relation" between the two or with Go plc, Infrastructure Minister Austin Gatt told Parliament yesterday in reply to a supplementary question by Opposition Leader Joseph Muscat following the financial debacle over the weekend.

The recent events were therefore totally and officially separate, Minister Gatt continued.

Dubai Investment was probably unique in that it had invested US$30 million out of its own resources for SmartCity Malta just in the first year.

The project was right on target, with the first phase due to culminate by July 2010 with the delivery of between 10,000 and 12,000 square feet of furnished offices. The iron structure was complete and the pre-cast ceiling was ready. That commitment was being kept without any perceived problems.

At the end of this summer, applications were being submitted for the second phase according to plan, and permits were expected to be issued in the next few weeks. The relevant tenders had been issued and adjudicated to Maltese contractors, so there was no reason to doubt progress, said Minister Gatt.

He said he was meeting the project's Chief Executive Officer regularly every time the latter visited Malta.

The greatest problem, said Dr Gatt, was attracting foreign companies to invest in offices and new structures in the Mediterranean in view of the global economic situation.

Dr Muscat said he was noting the minister's answer, adding that his question had been shorn of any political innuendo.