5 - 11 July 2001

Great foreign interest in Cottonera project

by Ivan Brincat

The Cottonera Waterfront Group will shortly announce who the operators of the Thalasso Therapy 40-suite boutique spa hotel will be. The work entrusted to the Cottonera Waterfront Group is due to be completed in around 24 months. The other consortium, working on the controversial project Port Cottonera, is shortly set to open the first phase of the project – the Casino di Venezia.
The group has also reported that demand for the luxury Vittoriosa apartments which are to be comple-ted in around 16 months time is very high especially among foreigners.
Meanwhile, Cottonera Waterfront Group chairman Edward Scicluna said the consortium was still very much interested in the development of Dock No 1. However, discussions with the government and the Malta Drydocks have slowed down recently. “We are still very interested in the development together with others,” he said. The work in Cottonera has generated a lot of interest among locals and foreigners. “The place is buzzing with activity. We have people working, others coming to see the area where the property will be. It has always been the aim of the developers to develop activity because we want to generate commerce in the area,” George Barbaro Sant, one of the directors of Cottonera Waterfront Group told The Malta Business Weekly.
One of the architects of the project and a director of Cottonera Waterfront Group, Edward Bencini said that work is on programme and is set to be completed in 24 to 27 months from now.
“We are also working together with Camper and Nicholsons for the operation of the yacht marina and in a short time, a public hearing of the Planning Authority will be held before the full development permit is granted.”
Mr Bencini said that the last parts of the Environmental Impact Assessment have been completed. “We see no reason why the job should not be completed in around two years,” he said.
He said that a very big company involved in large project development in the Mediterranean region is interested in permanently berthing three very large boats in Vittoriosa. Two of these are deemed to be super-mega yachts.
“These boats are floating hotels. They will not only generate work for shipyards like the Malta Drydocks and Cassar Ship repair but also for the locality because they spend millions to stock and refurbish the boats during winter,” Mr Barbaro Sant said.
The first part of the yacht marina will be fully operational by the end of next summer and Camper and Nicholsons, the renowned company which will operate the marina already has clients who have agreed to come over to Malta.
A lot of work has gone into restoration and cleaning of the place. So far, the Group has cleared the Palace in which they are operating from. Moreover, they have also cleared the vaults in Fort St Angelo and a kilometre of tunnels in the Fort. All this work has been carefully monitored by the Planning Authority to ensure that no damage is done.
Among the areas which were cleaned was the place where the disco under the Fort used to be. From there, the consortium has removed 220 trucks of rubble. Mr Bencini said that in effect, it cost the company tens of thousands of liri to clear.
Moreover, the arches which led to the Fort were also knocked down at a cost of around Lm40,000. The area near the Menqa is expected to be the heart of the project, Mr Bencini said.
“The bridge has been removed and we will now restore the old bridge which led to the Fort. Moreover the lower bridge will become a lifting bridge.
“The intention is that of allowing vessels to enter the area so that we can have boat shows. We also plan to have place for a floating pontoon to have concerts and fashion shows,” Mr Bencini said.
The area, which will also include the apartments, will have a wine cellar and bistro, a specialised Italian restaurant, a gelateria, souvenir shops, boutiques and there will also be a tourist activity which is expec-ted to be a 1.2 kilometre dark-ride.
“We see the place as one which will generate a lot of movement both with tourists and locals. There will be light outdoor entertainment. Our aim is that of having people come here also with dinghies and boats,” Mr Bencini said.
Work on the apartments is now moving on. “We have started to lay out the foundations and two contractors will be working on the project which is expected to be concluded in 16 months’ time,” Mr Barbaro Sant said.
“The demand we have had especially from foreigners has been overwhelming. It will certainly change the perception that Cottonera is a degraded area. Foreigners like the culture and the character of the area.”
At present, the Chinese buildings are also being demolished and these have opened the view of the Fort. “This view will remain there. We will be digging a trench to recover the original coast which had been reclaimed in the 1900s. There we will have a pied-a-terre and at the other side the thalasso therapy.”
The thalasso therapy will be catering for a highly specialist niche market. “We aim to attract the tourist who is attracted by culture and wants a relaxed, laid-back holiday in a secluded zone with health in mind. It will include massage parlours and indoor swimming pools among others.”
Mr Bencini said that they are also considering the possibility of having a helipad and this will be discussed with the authorities. “We have had a demand from the interested operators of the thalasso therapy and also from owners of mega yachts.”
Meanwhile, both Cottonera Waterfront Group and Port Cottonera are working together to address the parking issue. “The government has made an impact assessment and a site has been identified to cater for 300 cars. This car park will serve people in the locality and also the traffic generated by the project,” Mr Barbaro Sant said.
The apartments will also have their own parking facilities. Meanwhile, there will be managed parking facilities on the waterfront because pedestrians will be given priority. “However, there has to be access for the boats, the outlets there and for maintenance and emergency vehicles.”
Work was expected to cost Lm7m originally but the Cottonera Waterfront Group said the Lm8m figure will surely be exceeded.