The Marsa horse-racing track regeneration project was officially launched today following the unanimous agreement in parliament for the works to go ahead.
The project’s Request for Participation had been published back in June of 2015, and after its closure the following October, only one bidder had come forward – the Marsa Race Track Limited consortium.
A subsequent memorandum of understanding was signed in March of 2017 to establish and protect the rights of the Malta Racing Club and Malta Polo Club, and the concession agreement & emphytheutical deed was agreed upon in parliament just last week.
Apart from a 65-year concession, with a minimum of €28 million to be invested in the first 4 years of the project, the government will also receive €200,000 at the signing of the contract and €650,000 a year which increases by 15% every 5 years.
The project includes stands to hold approximately 4,500 people, with 1,500 of them seat – including parking for 1,200 cars.
Current employee contracts of those working at the race track will be absorbed by the consortium.
The Malta Racing Club will evolve into the Malta Racing Authority and will serve as the exclusive regulator of horse racing in Malta.
Photos Alenka Falzon
Enemalta will also have exclusive rights to install solar panels in roofed areas as per the contract with the Lands Authority, and the consortium is to develop a state-of-the-art bus terminal close to the track at no cost to the government.
Speaking at the press conference, Parliamentary Secretary for Sport Clifton Grima (above) said that this further confirms the mission this government set itself – to put sport on the national agenda on the country.
He added that whilst last year 60,000 people attended events at the race track, he hoped that the investors would double the number.
Chairman of the Malta Racing Club Edwin Borg explained that it is practically impossible for a sports organization to generate enough money to do this alone and that it was a long and difficult process that involved many people.
Borg celebrated that events will now be taking place at an international standard.
The lawyer for the Marsa Race Track Limited consortium Pio Valletta also expressed his approval, noting that this is to be the largest investment into a sport that has ever taken place in Malta, and maintained that it will regenerate a zone that the Maltese people, for a long time, has wanted regenerated.