A 35,000-square metre area in Mrieħel is due to be transformed into a corporate village due to open by 2015 under plans unveiled by Malta Enterprise yesterday.

The €200 million Corporate Village Malta project will create high-quality office and commercial space to be built and run by the private sector.

The village will take over the former Dowty factory and administration block, a number of smaller factories and workshops and a vacant plot of land.

Malta Enterprise is calling for expressions of interest, closing on September 3, and will later issue a request for proposals to the shortlisted parties.

The preferred bidder, who will be granted a emphyteusis for 50 years, is expected to be chosen next year.

The government will be guaranteeing a minimum occupancy of 30 per cent of the office facilities. Part of the site will accommodate retail premises to serve the needs of employees, including dining facilities.

Corporate Village Malta will also provide facilities for conferences and exhibitions, leisure and sports, childcare, an open relaxation centre and underground parking.

Finance Minister Tonio Fenech said the project sought to respond not only to the government's strategic vision, but also to opportunity that arises from the demand for high-quality office and commercial space in Malta, which is expected to grow as the country develops further and expands its services sector.

The designs of Corporate Village Malta, presented to the media during a news conference yesterday, are complex and environmentally friendly. The roof of the building has been designed like an external skin that encapsulates and shelters the building.

Works are projected to start in 2012 and be finalised by 2015.