IHI’s plans include two luxury hotels, upmarket serviced residences, limited commercial and boutique retail areas. The proposals remain subject to zoning, planning and land use considerations under discussion with the relevant authorities.
The project includes the sites in St George’s Bay currently occupied by the Corinthia St George’s Bay Hotel, the Marina Hotel and the Radisson Blu Resort. These properties are already owned by IHI.
The existing Corinthia Hotel will be redeveloped into a six-‐‑star beach resort, and another luxury hotel will be built specifically catering for business visitors. The project features two iconic towers, therefore preserving valuable land space.
Only 27 per cent of the site’s footprint will be occupied by the luxury development, while the remainder will be a combination of lush gardens, open spaces and water features. The major objective of the project is to set new standards in architectural design, internal and external finishes, landscaping and, above all, to be supported by the level of service for which Corinthia is internationally renowned.
IHI chairman Alfred Pisani said: “We are making this investment because we believe in the future of Malta. Our objective is to bring back all the overseas experience we have gained in other countries to ensure our St George’s Bay project matches the standards achieved at our award-‐‑winning developments at the Corinthia Hotel in London and elsewhere. Our total focus is on quality, quality and quality.”
The development has been supported by top international architects and designers who are taking into account proportion, symmetry, balance and scale. Furthermore, the company has involved interior designers and landscape architects of international repute, that will make this project unique in Malta – while it will compete with the very best in the Mediterranean.
Mr Pisani said: “If the island is to truly achieve its objective to become a high-‐‑end destination and flourishing financial centre, it must provide the kind of top quality accommodation and facilities available in countries like Singapore, Dubai and others, while at the same time delivering an end product that reflects Maltese characteristics.
“Since land in our country is limited, this strategy necessitates the construction of high-‐‑rise buildings. This is the only way to satisfy expected demand. There is no other option if we are genuine about wanting to preserve precious land.
“Corinthia firmly believes developments must be attractive, as well as sensitive to architectural excellence and, crucially, only take place within a context of proportional density and in designated areas. The country’s objective to attract high-‐‑net-‐‑worth individuals, and raise the standard of our island, demands these standards.
“Corinthia is also fully supportive of the need for development to take place within the context of a masterplan for the entire area. We are confident that such a masterplan will ensure quality and harmony in St George’s Bay. This is an essential component of the vision to achieve the very best for our island.”