Valletta’s indoor market, commonly known as Is-suq, is to finally be given a new lease of life after having been entrusted to a private company, Planning Parliamentary Secretary Michael Falzon said yesterday.
The quasi-abandoned Victorian building, known for its iconic iron roof structure – reminiscent of London’s Victoria Station – will be renovated with original features retained.
The private company, Arkadia Co. Ltd, which also owns a chain of supermarkets, will invest some €7 million in the redevelopment of the site in Merchants’ Street.
Dr Falzon said around 20 proposals had been received and evaluated before deciding on the Arkadia bid, and the works were expected to be finalised by December 2016.
The lower floor will remain a food market featuring several stalls that will have to meet “the best of the crop” criteria being imposed by the company.
Arkadia spokesman Antoine Portelli said the market had been modelled on a number of landmark food markets in Spain such as San Miguel in Madrid.
The first floor will house a number of catering establishments offering a variety of foods ranging from the traditional ħobz biż-żejt to oyster bars and grills.
Mr Portelli said these too would have to be vetted by a special team to ensure a certain standard of quality was met and that the vendors fit in with the main ethos of the project – that of providing a genuine yet contemporary food market experience in the heart of the capital.
Asked about the future of the market’s existing vendors, Mr Portelli said these were engaged in discussions with the Arkadia team and would be “accommodated”.
The project will be topped off with an open lounge on the second floor that will, among other things, be used for hosting cultural activities by a variety of entities.
Dr Falzon explained that Arkadia had been granted a 65-year ground rent and will then be responsible for leasing out commercial space to possible vendors and catering establishments.
He yesterday also announced a separate regeneration project covering Strait Street.
He said the government was investing €1.2 million and would be relaying a number of steps along the street because of their poor condition.
Parts of the street will be paved with lava stone while new street lighting inspired by old street lamps used in the past will also be installed.
‘Corners being cut’
Nationalist MP and former minister for lands Jason Azzopardi yesterday questioned the selection of Arkadia for the market project, claiming the government was cutting corners in the allocation of public land.
Dr Azzopardi said the Disposal of Government Land Act specifically safeguarded taxpayers from abuse of any disposal of public land by the government, unless done either by parliamentary resolution or after a public call for tenders.
In this case, bidders Arkadia were chosen only following the submission of expressions of interest.
In a reaction, the government said negotiations with the chosen company had to be concluded before taking the matter to Parliament for a resolution on the transfer of land.