MIDI plc said in a statement on Tuesday that it had “exhausted discussions” with the government for the return of Fort Tigne to the public before reaching out to private investors, but added that it is still possible for the Fort to revert to the government.
This is because any sale of the Fort is subject to government consent.
The statement was published after the Prime Minister Robert Abela commented on a deal reached between MIDI and Gozitan developer Joseph Portelli for the Fort to be sold for €2.5 million.
Portelli said that he planned to turn the Fort into a hotel; a statement which alarmed NGOs and the general public, prompting Din L-Art Helwa to offer to submit an identical bid to take over the Fort itself and for political party Momentum to call on the government to buy the Fort back and preserve it.
Prime Minister Robert Abela on Tuesday described the idea of the Fort being turned into a hotel as “obscene” and said that the government would do everything it can to protect it. He did not exclude the government buying the Fort back.
In its statement following those remarks, MIDI said that the sale of Fort Tigne and other properties at Tigne Point is part of a concerted effort by the company to raise funds for the redemption of the company’s €50 million bond which is due in July 2026.
Just this week MIDI announced that it had agreed to sell retail outlets within the Tigne Point complex for €10.2 million.
The sale of Fort Tigne is subject to a number of conditions precedent including Government’s consent for the transfer of the Fort from MIDI plc to J Portelli Projects Limited, the company observed.
“The company is conscious of the heritage value of Fort Tigne as in terms of the provisions of the concession deed, the Fort was painstakingly restored at MIDI’s sole a cost. The development brief for Tigne Point and the outline development permit contemplate the commercialization of the internal spaces of the Fort with defined heritage routes to ensure that the Fort remains accessible to the public at all times,” MIDI said.
“It was always clear that the sustainable development of the Fort requires the existing buildings within the Fort to be repurposed for commercial use while preserving their heritage value,” it added.
“Prior to initiating a search for private investors, MIDI had exhausted discussions with Government and Heritage Malta for the return of Fort Tigne to Government,” the company said.
“The company confirms that as the sale is subject to Government consent, the possibility still exists for the Fort to revert to Government,” it concluded.
In a short, separate statement meanwhile, the NGO Din l-Art Ħelwa commended the Prime Minister for his stance on the development.
“We commend this as a necessary and welcome first step. Our offer to raise the funds to match the commercial terms of the promise of sale and to repurpose the fort exclusively for public cultural, educational, and community use remains on the table,” the NGO said.
“We are ready to collaborate with the Government without delay to secure this historic site for posterity and we look forward to a swift and constructive path forward,” it concluded.