Work on two office blocks and two exclusive retail blocks overlooking the lagoon will start at Ricasoli this month for the start of the second phase of the multi-million Smart City Malta project.
Smart City Malta CEO Fareed Abdulrahman said: “We are well geared for the expected recovery of the world’s economy and confident that Malta will be the hub for ICT/media cluster developments in the Mediterranean region.” Phase II and the subsequent phases of the development will be connected with the existing infrastructure services of the first phase of the project.
With the completion of Phase II, Smart City Malta will offer a comprehensive range of additional office buildings and exclusive retail space.
The tender for Phase II was awarded to Attard Bros. Co. Ltd following a competitive bid.
With a minimum investment outlay of US$300 million, Smart City Malta is expected to generate 5,600 jobs and create 158,830 square metres of office space for ICT and media operators.
It was the first overseas project of Dubai-based Tecom Investments, which launched Dubai Internet City, its first business park, 10 years ago.