Prime Minister Lawrence Gonzi praised the Corinthia Group’s success story calling it a success that is “based on a set of business values as well as on your work, dedication and effort”.

Dr Gonzi was speaking at the annual dinner for senior executives of the Corinthia Group. The Prime Minister said that he closely followed the developments of the Group, which had succeeded to grow its activities overseas and overcame the severe limitations of its origins from a small country.

Dr Gonzi was replying to an address by the chairman of Corinthia Group, Alfred Pisani. In his speech, Mr Pisani referred to a number of major milestones by the Group, including the successful completion of the Palm City complex a few months ago, comprising 413 units, as the first residential complex of its kind in Libya.

Mr Pisani said the landmark Corinthia Hotel London, which will be opened in the first quarter of 2011, will be one of the leading hotels in the British capital, creating world-wide exposure for the Corinthia brand. He referred to the preparations for a listing on a major international stock-exchange, which would create a larger shareholder base for IHI, and to the preparatory work on the Medina Tower project – a unique mixed-use 40-storey high development in Tripoli, as also to the new hotel being planned in Benghazi.

The annual dinner, held at Corinthia Hotel St George’s Bay, was attended by directors and general managers of all the companies that form part of the Corinthia Group.

The Group is Malta’s largest international company with extensive interests in the acquisition and development of landmark hotels, hotel operations and project management.

It is active in Libya, the United Kingdom, the Russian Federation, Portugal, Hungary, the Czech Republic, Turkey and Tunisia.