Midi plc and Miller Developments have officially launched the opening of retail lease opportunities for a new shopping centre, The Point at Tigné Point, which is set to offer the single largest mix of mainstream and speciality retail stores under one roof and which is due for completion in 2009.

The Point will be Malta’s largest purpose-built shopping and leisure destination, with 17,000 square metres of retail and leisure space, over 40 retail units, a 2,500-square-metre Debenhams Department Store, a major supermarket and possibly also a cinema complex.

In a speech at an event organised for potential retailers, Tigné Mall Ltd chairman Alec Mizzi said: “This project endorses Sliema’s increasing import-ance as a retail destination. In addition to the existing, as well as planned, retail offers in the area, it will create the critical mass that will consolidate Sliema’s position as the retail destination of choice in the

country.”

With an investment of over EUR44 million, the developers’ vision is to create a world-class retail mall for the enjoyment of Tigné Point’s residents, visitors and the Maltese public at large.

The development will encompass Fort Tigné, which was built by the Knights of Malta in 1792 and which will be restored and turned into a major

heritage attraction.

Dr Mizzi said that no expense will be spared in the design, planning and building of what is set to be a world-class retail centre.

Midi plc has also invested heavily to ensure that The Point will be served by some 1,200 directly-linked underground public car parking spaces in an otherwise car-free environment.

The overall scheme has been planned so that The Point Shopping Centre and its surrounding areas will be family-oriented, safe and convenient.

The Point has already received an overwhelming response from the retail sector, and the very positive endorsement of Debenhams Department Store, one of the UK’s leading chains.

Miller Developments are 50 per cent shareholders with Midi plc in the Point Shopping Centre.

Miller Developments is the commercial development arm of Miller Group Ltd, the largest privately owned house building, construction and commercial development business in the UK with some 2,000 employees, a turnover of EUR1.7 billion, and annual profits of around EUR120 million.

Miller Developments is also currently involved with some 78 projects in eight countries throughout the EU, with an end development value of EUR5.5 billion.

In the UK, Miller Developments specialises in retail developments and investments, particularly retail development joint ventures with local partners.

Speaking on behalf of Miller Developments, group chief executive officer Phil Miller said people were after convenience, quality and choice when they shopped.

The Point will offer people the convenience of being able to park their cars where they shop, a high quality, air-conditioned, well-designed environment, and a wide range of shops with the eating, drinking and leisure facilities that make shopping an enjoyable experience.

Speaking of the partnership between Midi and Miller Developments, Dr Mizzi said: “We are pleased to have found the support of Miller Developments, whose experience and expertise will be critical in the delivery of the mall to the standards that have been set.

“The last two-and-a-half years have been a busy period during which we have invested substantial effort and resources into the planning of The Point – a retail and leisure experience that we believe will set the standards for retailing on the Island for years to come,” Dr Mizzi concluded.