The House National Audit Office Accounts Committee has unanimously approved a resolution on the granting on emphyteusis of the Valletta market structure to Arkadia Ltd for 65 years, subject to changes suggested by Opposition Deputy Leader Mario de Marco and readily accepted by Parliamentary Secretary for Planning Michael Falzon.

The committee was informed that only four bidders had submitted proposals, which were then adjudicated by the Valletta Market Project Advisory Board. Besides the location’s use as a food market, the successful bidder had entered into a memorandum of understanding with the Arts Council for the inclusion of a cultural component with an eye to Valletta 18.

Dr de Marco pointed out that the three original principles of the project were the restoration and image, the operation of a food market and other ancillary services and facilities. But the proposed contract included no definition of what a food market was. The list of uses included was not exhaustive. The bidder’s proposals were not reflected in the contract.

Dr Falzon said he saw no problem with adding another clause to allay Dr de Marco’s fears.

Government Property Division architect Duncan Mifsud said that at the end the project had been transferred to the privatisation unit, which had gone into such aspects as liabilities, financial projects and business models with bidders, who also included Mercanti. It was not treated as just a grant but had connotations of employment, artistic concept, execution and budgeting.

Dr Falzon said the Malta Tourism Authority had been involved all the way on the committee, as had Mepa and the Ministry of Culture.