St George’s Bay will soon get a major upgrade, with two massive projects eyemarked for the area: a six star resort by Corinthia and a luxury development by db Group. City Centre, as the db Group development is called, is estimated to cost €300 million.
A video uploaded to Facebook by Minister Konrad Mizzi outlines the main aspects of the project, including Malta’s biggest spa facilities, large spaces for live music and events, and a 315-room Hard Rock Hotel. The investment was unveiled this week by Prime Minister Joseph Muscat and the chairman of db Group Silvio Debono. Dr Muscat labelled this as the biggest investment in Malta by a Maltese citizen, and said the project would create 1,500 new jobs.
The land, which currently hosts the Institute of Tourism Studies (ITS) , was controversially given to the group on a 99-year emphyeutical grant for some €60 million, a price that has been disputed as lower than market rates. ITS is moving to Smart City.
City Centre is expected to be complete in the next three to five years.