The Company’s Principal Business
The Company acquired the Emphyteutical Land at Tigné Point and Manoel Island by virtue of a public deed in the records of Notary Vincent Miceli of the fifteenth day of June of the year two thousand (15/6/2000) from the Government of Malta (“GOM”) by title of temporary emphyteusis for a period of ninety-nine (99) years which commenced on the fifteenth day of June of the year two thousand (15/6/2000).
Under the same Emphyteutical Deed, the Company also acquired from the Malta Maritime Authority, for a period of ninety-nine (99) years, the right to develop and operate a yacht marina on a defined area facing the south shore of Manoel Island in Ta’ Xbiex Creek limits of Gzira. Development operations commenced in late 2000.
Business Overview of the Project
Tigné Point is a residential, commercial and leisure development located on the north-eastern coast of Malta, approximately one kilometre north of Malta’s capital Valletta.
The development of apartments represents circa 55% of the total area. This is complemented by The Point shopping mall, Pjazza Tigné - the heart of the Tigné development, comprising retail and catering outlets and the soon to be launched business centre. Strong emphasis has also been placed on the restoration of historic sites, including Fort Tigné, St Luke's Chapel and the army barracks and Clock Tower, which have all been merged into the modern architecture that characterises the site.
Tigné Point offers leisure activities including a fitness club, a residential swimming pool, cafés and restaurants. The development also encompasses extensive public spaces and all traffic has been routed underground in order to provide a car-free zone at ground level.
Manoel Island is located on the north-eastern coast of Malta, approximately one kilometre north-west of Valletta.
The development will be characterised by its marina village which, together with the Lazzaretto and Fort Manoel, will form the major part of the development. The project will present a leisurely and recreational environment, including large open spaces for the use of residents and the general public alike, and a yacht marina, and will hence offer a high-quality living environment in the heart of Marsamxett. Manoel Island is currently at design stage with a full development permit recently being issued with respect to the Lazzaretto.