Farsons said today that the initial masterplan for the building of the Farsons Business Park has been presented to its board.
The plan was prepared by Ian Ritchie Architects of the UK supported by Malta based engineers TBA Periti.
The masterplan involves the transformation of the Old Brewhouse and former Packaging Halls in Mriehel, which are set to be given a new lease of life.
Respect for the industrial heritage of these valuable assets has been placed at the heart of the proposal, while the philosophy behind the masterplan seeks to capture the essence of Malta through a series of courtyard gardens, which will provide a tranquil place to work and visit.
The project will set new spatial, environmental and technical standards for
“green” buildings in Malta, with energy efficient performance and building sustainability central to the new office design to meet the future demands of
exceptional quality work environments for local and international companies, Farsons said.
Once completed, the project will include around 50,000 square metres of commercial space anchored by Grade A offices, together with complementary retail, leisure, cultural and social facilities – so beginning a new chapter in the future transformation of the industrial area.
“We have been working on this vision to find new uses for our iconic buildings for many years. Although it is ambitious, we feel confident that the time is right for a quality development of this magnitude to happen," Chairman Louis A Farrugia.
"Our Business Park will help transform the area and contribute to Malta’s economy by providing quality space that is both aesthetically pleasing and environmentally sustainable. We now need to secure all the necessary approvals and funding for this project to become a reality.”
The plans were announced shortly after Farsons held its annual general meeting.
Mr Farrugia also said during the meeting that Farsons was planning to broaden its horizons to become a regional food and beverage player.
Farsons Group improved its profitability during the financial year ending 31 January 2014 as a result of operational improvements.
Moreover, Mr Farrugia said, Farsons was well on track with its strategic multi-million Euro investments programme.
“While the significant €12.5 million investment in the new brewhouse commissioned in 2012 is already reaping rewards, work on the latest €27 million investment in a new beer packaging facility announced last February has started. This is expected to be completed by April 2016.”
The annual general meeting approved the board’s recommendation of a final dividend of €1.5 million, bringing the total declared dividend for the year to €2.5 million. This figure is equivalent to the amount declared last year.