The Corinthia group, which is planning a €400 million mega-development in St George’s Bay, is “naturally an interested party” in acquiring the land occupied by the Institute of Tourism Studies, a spokesman for the group said.
The government yesterday published a Request for Proposals from anyone interested in obtaining the concession for the ITS building and land in close proximity, to be used for “upmarket mixed tourism and leisure development”.
A number of hoteliers who spoke to this newspaper predicted the area would soon form part of the Corinthia’s portfolio.
Asked whether the hotel chain had already struck a preliminary agreement with the government, as part of its new development, the Corinthia group denied this was the case.
We are closely watching developments in the area
“We are closely watching developments in the area,” the spokesman said. “However, we deny that there is any sort of informal agreement or deal with the government.”
Speculation about whether the Corinthia had set its eyes on the ITS building made the headlines last year soon after the group’s announcement of its new flagship project.
At the time, Tourism Minister Edward Zammit Lewis had denied that the government was going to sell the property and shift the tourism training college. A spokesman for the OPM had said: “There is no form of agreement or arrangement with any entity, whether private or public, regarding the use of the ITS building.”
However, in the budget the government announced its intention to build a new €56 million ITS campus at Smart City.
Asked to explain the government’s change of heart towards shifting the ITS, Mr Zammit Lewis said he had always been consistent in his replies. “The request for tender proposals for ITS and the new €56 million Smart City project are two separate processes, also in terms of financing. There is no agreement with Corinthia. The request for tender proposals is being managed by Projects Malta.”
The period of the concession is not known.
Corinthia’s massive development in the bay was announced last May.
Set on a 76,000 square metre plot in the popular bay, the group will be re-developing the current Corinthia San Ġorġ, Corinthia Marina and the Radisson SAS into one mega “oasis of excellence”.
The development, expected to take four years to complete, will dominate the Paceville peninsula. It will include two high-luxury hotels, a beachfront lido and another ‘lifestyle’ hotel for corporate visitors.
The development, for which no artists’ impression has been released yet, is also expected to include residential apartments, a number of commercial developments and several retail outlets.