Tigné Point moved a step closer to completion last week as planning authorities gave the green light to the development of substantial elements at Tigné North.

A full development permit for 103 apartments in two blocks and a separate 16,000 square metre business centre will consolidate Tigné Point’s vision as a holistic mixed use development that brings together residences, commercial activity, leisure areas, and restored heritage sites in a prime location served by ample underground car parking.

“After a long review process with applications at MEPA since 2005, we are now stepping into the last and perhaps most exciting phase of the development,” Midi chief executive Ben Muscat said.

While the total buildable area is the same as that originally envisaged in the outline development permit issued in 1999, the number of blocks to be constructed in the north phase are now fewer but higher – a reduced footprint became available following the preservation of the Garden Battery, a series of 19th century British gun emplacements snaking across the site’s northern shore.

This preservation of the Garden Battery compelled Midi plc to divert the planned vehicle tunnel opened for public traffic last summer to pass under the battery and to completely re-design their original plans for all the structures contemplated for construction on the north side of the Tigne’ Point peninsula. The final stage in the scheme that will complete all the works in Tigne’ Point will be the large open public space situated north of The Point Shopping Centre. This area will accommodate two pavilion-style catering establishments with outside dining, as well as a tree-lined open pedestrian boulevard adjacent to the historic seafront battery.

This last phase will conclude a development which has achieved success in different fields to date. All the retail outlets within The Point shopping mall have been rented and are now well established in meeting the a considerable footfall of shoppers.

The car parking facilities at Tigne’ Point, besides serving the needs of visitors, have been a welcome addition to the otherwise limited car parking facilities in Sliema.

All but four of the 260 finished apartments have been sold to a mix of local and foreign buyers, with 11 apartments ranging from €210,000 to €1,350,000 sold in the last eight weeks alone. These properties are being bought as luxurious homes or as rental investments with the latter earning among the highest rents on the island.

The recently approved commercial centre in the Tigné North phase is expected to generate further business for both the retail, catering and rental sectors of the project. With a pronounced shortage of good quality, contemporary and efficient office space in Sliema, the Tigné Point business centre is set to become a highly sought-after address, Midi said.

Last October Tigné Point won an award for Best Mixed-Used Development in the European Property Awards 2011.