Smart City has received the 'Best Investment Award in Europe' for its $300 million investment for the development of its Malta township at Ricasoli. The award was presented during the World Investment Conference in La Baule, France last week.

The award for the largest foreign direct investment in Malta was received by Jawad Suleiman, Smart City's executive director of project development and planning, and Malta Enterprise chairman Alan Camilleri.

The annual World Investment Conference is now in its seventh year. It is recognised as the leading European forum for high-level debate, bringing together over 1,000 people from different economic and political spheres.

Organised by Ernst and Young and supported by the European Commission, it brings together world political and business leaders.

This year's chosen theme was 'Investing in Global Cities - an Opportunity for Europe's Rebound'.

Smart City Malta comprises office space, residential and lifestyle elements. It is expected to generate 5,600 jobs in the ICT and media sector.

The first deliverables from the project will be the release of 12,000m2 of office space next year.

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