The marketing strategies and development plans of Smart City Malta were presented, discussed and approved during the second board of directors' meeting of 2008.
The issues pertaining to Smart City Malta, part of a global network of self-sustained townships, are parallel with Malta's long-term ICT vision.
Extensive progress has been demonstrated by the multi-disciplinary team handling Smart City Malta. The board of directors has approved the master plan to be submitted to the Malta Environment and Planning Authority which comprises of 85 acres of land and projected to host 5,600 workers.
In line with its project development schedule, Smart City Malta has identified potential target sectors and companies that would enjoy Smart City Malta's infrastructure, environment and support systems. In accordance with Smart City's business plan, the job creation plan was also discussed to create maximum opportunities for all ICT knowledge workers locally, regionally and internationally. The board took note of the strong international interest shown in the project over the last months, with the first clients expected to be announced over the coming months.
The board also noted that the Government had launched the Government Services Unit and had concluded a significant number of service level agreements with various government departments and public sector entities.
Fareed Abdulrahman, executive director of Smart City and a board member of Smart City Malta and Kochi, expressed his appreciation for Malta's support in the Smart City Malta project and his certainty that "Malta will be the preferred ICT and media destination in the Mediterranean region".
Mr Abdulrahman added that the "synergy between Smart City and the Government of Malta is an exemplary model of how the public and private sectors can collaborate towards the attainment of the common social and economic goals".
Attending the meeting were the board members of Smart City Malta, including Deepak S. Padmanabhan, Fareed Abdulrahman, Claudio Grech and Todd Betts.
As part of Smart City's continuous commitment to promoting Smart City Malta as a self-sustained township for the knowledge-based industry, Smart City participated in the Business Park 2008 exhibition, India's only trade show for IT parks, in February. Smart City Malta was showcased as the Mediterranean hub for investment to organisations with a global voice and presence.
With an investment outlay equivalent to $300 million, Smart City Malta will transform the Ricasoli industrial estate in Malta into a state-of-the-art ICT and media business community based on the successful models of Dubai Internet City and Dubai Media City.
Smart City Malta is the largest foreign direct investment in the ICT and media sectors ever made in Malta. The Government will invest the land and retain equity of nine per cent in the project. The first deliverables from the project will be the office space building of more than 8,000 square metres.