The Malta Strategic Partnership Projects Ltd (MSPP) on Monday announced a call for proposals from the private sector to rehabilitate the Chalet site in Tower Road, Sliema.
The public call will close on 1st February 2023.
This project is part of a wider strategy that MSPP has embarked on and which aims to rehabilitate sites that have been in a state of abandon for years, the company said. Through the injection of private capital, the aim is to transform such sites into high quality projects.
The Chalet site is currently just a stretch of concrete and has been abandoned for almost 6 decades, with almost no accessibility to the public.
Studies carried out on this site demonstrate that the rehabilitation of this site through the reinstatement of its use, can create the equivalent of 53 fulltime jobs whilst contributing to a total of €2.5 million in value-added, and nearly €860,000 in income from taxes, the company said.
The Chalet project which was studied within the terms of the 2002 Chalet Development Brief, calls for proposals that will inject a minimum of €3.2 million through the initial capital investment followed by subsequent partial re-investments of €1.4 million every seven years, and complete reinvestment of €3.2 million between the 28th and the 30th year of the given concession.
The concession period set at 65 years, will also allow the government to generate ground-rent and a concession fee which approximately total a quarter of a million euro, on an annual basis, as a minimum. Moreover, such project aims to continue investing in the country’s tourism offer, as the call focuses not just on the rehabilitation of the Chalet site itself but also calls for bidders to submit corporate social responsibility plans.
Such plans should identify clear measures which aim to invest in the surrounding area, such as improving the accessibility to the foreshore for the general public, embellishing the area and marketing the locality. This will enable the proposed project to contribute tangibly to the Sliema Locality. Environment safeguards and green measures, apart from innovation and creativity should also form part of the proposed project. Interested parties are also informed to consider the weather conditions that the site is vulnerable to.
The proposals put forward will be assessed by a committee formed of senior public officials from the Civil Service and others within the public sector, and the recommended project will be put forward for approval by the highest institution in the country, by means of a parliamentary resolution.
Details of the request for proposals can be accessed at www.etenders.gov.mt.
