Island Hotels Group buys Hal Ferh
The Hal Ferh complex.
Island Hotels Group has acquired the perpetual ground rent over a tract of land of approximately 83,000 square metres adjacent to the Radisson Blu Golden Sands Resort and Spa as well as the shares in Hal Ferh Company Limited for a total cost of €12 million.
The purchase was made from the government and Air Malta following a call for tenders.
The Group said it intends to develop the site through its newly established affiliate, The Heavenly Collection Limited, in which its partners in Golden Sands Resort Limited also have a 50% equity interest.
"This development will be a natural extension of the Radisson Blu Golden Sands Resort & Spa and will operate on a business model similar to the one currently in operation. The Group is confident that with the current infrastructure of the Radisson Blu Golden Sands Resort & Spa the additional room stock that this extension on the Hal Ferh site will provide should have a long-term positive effect on the over-all profitability and financial performance of the Group."
In the coming months the Group will draw up detailed designs and plans and work with MEPA to obtain the necessary permits within the context of the development brief already issued by MEPA for this site. The Group expects to be in a position to commence development and construction works by early 2011.
Group CEO Winston J. Zahra said the Group was very excited about this new development.
"This acquisition will enable us to continue building on the success we have achieved at the Radisson Blu Golden Sands Resort & Spa and enable us to consolidate our position in this part of the island. We are looking forward to developing a very attractive, environmentally sustainable product which will lift the overall tourism product in the Golden Sands area."
18 Comments
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Steve Borg
Dec 25th 2009, 09:51
The dangerous limestone blocks that constitute the remains of the Riviera Hotel can be removed by government at the expense of the present owners and the site returned to nature, restituting the beauty of Għajn Tuffieħa.
Ħal Ferħ was indeed in an acute need of redevelopment and has been acquired at a favourable fiscal amount from the Government of Malta.
This is a golden opportunity for the developers to transform it into a sustainable resort retaining the same height, footprint area and ratio of building/vegetation density, that rightly befits the ecological importance of the surrounding areas.
I recall writing that when Lord Methuen was appointed Governor of Malta in 1915, he used to pass time planting trees - including the mature Norfolk Island pines visible today in this photograph in the same Ħal Ferħ footprint area in Ir-Ramla tal-Mixquqa (Golden Bay being an artificial name made up to attract tourists in the 1960s).
The whole article can be read at this link:
http://www.my-malta.com/interesting/Guns&Roses.html
Marco Cremona
Dec 24th 2009, 11:36
(I hope somebody addresses the shabby and unsafe building development asap. The current owners should be made to demolish the existing structures)...... I was referring to the Riviera here.
carlo salamone
Dec 24th 2009, 08:50
complimenti solo i grandi uomini riescono a fare la storia e da quello che ho gia` visto e per quello che sto vedendo state contribuendo a scrivere un nuovo capitolo di storia con la vostra perseveranza bravi ad avercene in italia persone cosi
Dominic Azzopardi
Dec 23rd 2009, 22:08
Good luck ,this is good news
Gerard Cassar
Dec 23rd 2009, 20:34
It is hoped they will not engage foreign architects like the government but stick to locals.
John Borg
Dec 23rd 2009, 20:05
Mr. Zahra, take no notice of people who criticise anything for any reasons. Malta is proud to have people of your sort generating much needed income towards our economy with top of the range projects needed for a county like ours to survive and prosper. I like many thank God for people like you who have the courage and forsight to invest wisely for the benefit of not ony yourselves, but for hundreds (probably thousands) of families throughout Malta.
I know first hand that I could only intice certain visitors to our islands due to 1st class establishments such as the Golden Sands, even during the lean months of January. For them, it was "love at first sight" even though my clients (big ones at that) had the world at their feet to choose from! Thank you and God Bless.
I Abela
Dec 23rd 2009, 19:56
CFarrugia - While I can understand your concern about over development in Malta, this particular development is really not the case. First of all it is already built up so at least this new development will make the place better. And Secondly when was the last time you went for a walk in the countryside at the location of Hal Ferh? Was it 40 years ago?
k abela
Dec 23rd 2009, 19:40
@CFarrugia
Thank God that most people within the power corridors, be they blue or red, obviously do not share your opinion. Tourism is still one of the major contributors to our economy and the better the level of our product, the better for the island (if you still doubt this i do not think i will bother explaining). Maybe Mr. Farrugia would prefer leaving a derelict site which has been neglected and unused for the past 5 years or so? Developments like these are positive for the island and let us not ridicule ourselves by petty arguments on what is obvious. We look forward to a high end property which will enhance our position in this vital sector.
charles vella
Dec 23rd 2009, 19:33
IT is very good acquired this ground and develop this area .But please take care for parking
late week we had a party at the Hotel and we had to leave our cars in dark, you do not know were you are walking .Beside the long walk in rain every body was disappointed.
Marco Cremona
Dec 23rd 2009, 19:30
I see no harm in the re-development of a derelict site - as long as 1) the same focus on tourism is retained; 2) the development will not result in a visual impact (i.e. same height limitations as existing); 3) the development retains the same built footprint as today (i.e. no 'spillover' into undevelopment land and the same amount of trees/landscaping retained) and 4) there is adequate provision for parking (as parking is already an issue today).
Other than that, let's hope that this development results in being a truly sustainable one, and a model for future developments.
(I hope somebody addresses the shabby and unsafe building development asap. The current owners should be made to demolish the existing structures).
Robert Lewis
Dec 23rd 2009, 19:09
@C.Farrugia What difference does it make to you whether it is half full or empty. Have the Directors asked you to fork out the money yourself. When you comment, do comment with sense mhux paroli fil vojt. When someone tries to invest money here there are always others who try to find all sorts of excuses. Happy Xmas Mr or Mrs Farrugia.
CFarrugia
Dec 23rd 2009, 18:26
if we continue like this, the little bit of coutryside left in malta will disappear. where will be go to have a walk in the countryside in the future? we need trees and plants and agriculture, much more than anything else. some hotels even had to close in winter, and the Radisson is definitely not full, the prices are so high there that I doubt it is even half full, even at high season. why the hell do we need more hotels? shame is all I have to say
Andrew Cachia
Dec 23rd 2009, 18:10
for sure an improvement, as at present is a dump and safehaven for scum bags. white rocks next please
Saviour Fenech
Dec 23rd 2009, 17:13
It's Christmas, leave politics out, please
Winston J. Zahra
Dec 23rd 2009, 16:40
In response to the comments below I would like to assure the people who expressed concern about the type of development that what our Group will be developing will be in conformity with the MEPA development brief which can be obtained from MEPA. The development will cover a maximum foot print of 17,000 square metres out of the 83,000 available. That means that there will be 66,000 square metres of land used for vegitation and open spaces. Additionally the buidlings developed will be of a maximum height of two storeys. Finally our Group's aim is to develop a project which is as close to carbon neutral as physically possible.
J Vella
Dec 23rd 2009, 16:16
Congratulations to the Island Hotels Group - This is clearly a group looking ahead for a tourism recovery. Preparing to make hay when the sun shines!!
E.Galea
Dec 23rd 2009, 15:55
I hope that this develpment won't ruin more the enviroment there.
C Borg
Dec 23rd 2009, 15:51
Let's hope we don't get another skyscraper, any chance of knowing what the MEPA development brief says?