Reservations for sea view apartments within Phase II of The Shoreline’s 400 apartment project at Smart City Malta will be accepted by Ricasoli Properties Ltd starting from Tuesday. Four of Malta’s major banks have all structured various loan packages for clients interested in purchasing properties at The Shoreline.
The Shoreline is introducing a residential component into Smart City Malta for the first time. Combined with a 30-outlet shopping mall, most of the residences will be enjoying spectacular views from spacious terraces, landscaped open spaces and an assortment of community amenities, all within walking distance. The privately-funded entity developing the €200 million project will transform Smart City into a live-work-shop-play active community, offering sophisticated living.
The Shoreline is a project where one may choose from a number of luxury one-, two- and three-bedroomed apartments having their own underground car parking facilities. The project’s managing director, Steve Carter, says residents will enjoy a unique experience of contemporary living as these luxury properties propose an essential residential component to the current offices and other exciting developments projected for Smart City over the next five years.
Construction work is planned to start in the first months of 2018 – as soon the full development permits are received from the authorities. The Shoreline’s project application fully conforms to the parameters of the original approved Masterplan of 2008 for Smart City, says Mr Carter, who estimates that the project will be completed within four years from when the permits are issued.
On how the market responds to the project, Ricasoli Properties chairman Ben Muscat said: “Positively, and as per the sales plan. We believe that The Shoreline is generating positive ratings by leading Maltese and foreign real estate agencies because they are seeing a great upside potential for investment in these residences. They have understood our high-quality vision and professionalism for the project. Moreover, The Shoreline has a great location that is already synonymous with a serene lifestyle in this emergent part of Malta.” Last month, Ricasoli Properties announced that Phase I targets were met and exceeded. Smart City enjoys Specially Designated Area (SDA) status. “We have also signed konvenji with a number of foreign clients from different countries, as an SDA provides a significant potential for foreign investors who are interested in owning apartments at The Shoreline.
Construction work is planned to start in the first months of 2018
“Furthermore, as the only SDA with good numbers of units currently available for sale on the Maltese Islands, we expect this trend to continue growing as our Phase II enters the property market.”
By far the largest development of its type in the south, The Shoreline also comprises a shopping mall covering 25,000 square metres on two floors, with space for underground parking.
Earlier this year, following an international bid, Ricasoli Properties appointed Haskoll, one of Europe leading retail architectural firms responsible for creating successful shopping centre designs around the world, to ensure that the shopping mall project is completed on time and to the highest standards.
Branding nowadays is not only reserved to the business world of products and services as many cities, towns and even localities are seeking to develop a place brand for their local areas to help them define the destination and make it stand out from the surrounding localities.
For this purpose, working alongside Haskoll, Ricasoli Properties have appointed an international team, consisting of development solutions, headed by Philip Harcourt, and retail specialists SSRC, run by Stephen Spendlove, to advise them on the evolving retail proposals for the project. They have also introduced another member to the team, leading place branding specialist Malcolm Allan of Placematters.