19 January 2005

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MIA negotiating with foreign investors for business park
Malta International Airport is negotiating with a number of foreign investors in a bid to find the best strategic partner for its ambitious USD250 million business park.
An MIA spokesperson told The Malta Financial and Business Times that negotiations were ongoing and that there has been a good deal of interest from foreign investors since the business park plans were revealed last March.
The spokesperson, however, would not give any further details. Asked whether MIA was negotiating with investors from the Gulf region, the spokesperson neither confirmed nor denied the report.
MIA wants to turn its car park and all the unused space around the Luqa terminal into an enormous business park including a four-star hotel, shopping malls, offices, entertainment centres and conference halls.
The project would include the development of a total of 140,000 square metres of land opposite and including the main terminal building, while the car park would be transferred underground.
The land, which was acquired by MIA following its privatisation in 2002 under a deed of emphyteusis for 65 years, will be offered for up to 55 years to developers.
MIA’s vision is to act as a catalyst for the setting up of foreign businesses in the region and upgrade Malta’s status as a trade centre in the Mediterranean region, thus strengthening Malta’s proverbial role of bridge between Europe, North Africa and the Middle East.

Copyright © Newsworks Ltd. Malta.
Editor: Saviour Balzan
The Malta Financial & Business Times, Newsworks Ltd, Vjal ir-Rihan, San Gwann
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