The Fort Cambridge project will see a capital injection of €17 million following the conclusion of negotiations with a new investor - Tigne Skies Ltd. The new investment will be made jointly by GAP Holdings Ltd and Tigne Skies Ltd.

"This investment will continue to strengthen the Company’s capital base and ensure the project is completed in 2011," the developers said,

We are pleased that the new investor has a common business philosophy and the same determination to complete this project on time without compromising quality,” company chairman George Muscat added.

Commenting about the progress of the project Mr Muscat said that the project was moving at a fast pace. The four levels of garage space have been completed and next month works on the shell structure of the apartments will commence. There are presently about 130 workers on site . Their number is expected to go up to 200 before the end of this year.

A detailed Fort Restoration Method Report will be complete next month and submitted for MEPA’s approval.

Of the 341 residential units planned, more than two-thirds have already sold, making the project not only financially feasible but also an attractive destination to prospective Maltese and foreign buyers, Mr Muscat added.

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