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The Power Station building at Valletta's historic Grand Habor in Malta will be transformed into a boutique hotel.
According to a press release, Valletta Cruise Port signed a build, operate and transfer (BOT) agreement with Valletta Bridge, a joint venture between CPHCL Group and Attard Bros Group, for the building's restoration, redevelopment and operation.
Thanks to this, Malta's first power station, built in the 17th century, will be redeveloped as a mixed-use development comprising an exclusive 20-room boutique hotel.
Situated within walking distance of Valletta and next to the cruise passenger terminals and the Valletta Waterfront, the building will also house high-end offices, retail and food and beverage offerings.
"The signing of this agreement marks the beginning of an exciting new chapter for one of the most distinctive historic buildings within Malta and the Grand Harbour region. This building is an important part of Malta's industrial heritage," said Stephen Xuereb, CEO of Valletta Cruise Port and COO of Global Ports Holding.
"This project will ensure its preservation and sustainable future use. Through the creation of an intimate boutique hotel and complementary amenities, we are not only restoring a remarkable landmark but also strengthening the destination and further contributing to the ongoing regeneration of the Grand Harbour."
On his part, Jean-Pierre Schembri, CPHCL Group CEO, said that his company is honored to be involved in what he described as a landmark building project.
Carl Attard, managing director, Attard Bros Group, noted: "Our focus is on delivering a structurally sound, technically robust redevelopment that respects the building's original characteristics, while meeting modern standards of safety, performance and sustainability."
The project is expected to contribute to the growth and diversification of Malta's tourism product.
Fuente: cruise industry news
