SmartCity recently received the Best Investment Award in Europe for its US$300 million investment for the development of SmartCity Malta. The award was presented during the World Investment Conference held at La Baule, France this week.

The award for the largest foreign direct investment in Malta was received by Jawad Suleiman, SmartCity’s Executive Director of Project Development & Planning, on behalf of SmartCity’s CEO, Fareed Abdulrahman, and Malta Enterprise chairman Alan Camilleri.

The World Investment Conference is organised annually and is now in its seventh edition. It is recognised as the leading European forum for high-level debate by people from different economic and political spheres. Organised by Ernst & Young and supported by the European Commission, it brings together world leaders in the global political and business fields, top European officials, academics and experts from around the world. This year’s chosen theme was “Investing in Global Cities – an opportunity for Europe’s Rebound”.

SmartCity’s investment in SmartCity Malta involves an ambitious self-sustained business township primarily for the knowledge-based industry in partnership with the Government of Malta. SmartCity Malta has a minimum investment outlay of US$300 million, and is set to become the leading ICT and media destination in the Mediterranean and the first European outpost of the global SmartCity network. SmartCity Malta comprises office space, residential and lifestyle elements.

It is also expected to generate some 5,600 jobs in the ICT and media sector.