A few days ago, the foundation stone has been laid for one of Malta’s most ambitious large projects: the Metropolis Plaza in Gzira. The high-rise project is going to cost around €100 million, which is almost double of what was initially estimated. The Plaza is located at Enrico Mizzi and Testaferrata Street in Gzira, a central location between Sliema and Valetta. It is expected to be completed in four years, and it will feature 3 high-rise buildings, one of them will become the tallest in Malta. The currently tallest building is the Portomaso Tower in St. Julians.
The project has been planned for some time now. The first application was approved by Mepa in 2009, but financing issues and permit problems delayed the project for several years. The main investor is Jalal Husni Bey and his HB group. There will be three towers, which are expected to change the skyline of Malta significantly. The buildings will have 13, 27 and 33 floors, the highest building will be 106m and even have a helipad on the roof. The project is going to be a mix of offices, apartments and infrastructure, and include restaurants, shops, a supermarket and other health and leisure facilities, as well as a huge car park.
The ambitious project shows the interest of foreign investors and the growing popularity of the islands. The Metropolis in Gzira is not the only large project, there is also SmartCity Malta in the south-east, which is already partially completed. Malta is becoming a hot spot for international companies who move their business operations to Malta in order to lower their tax burden. Once the project is completed it will transform the image of Gzira and help turning the city into one of the main hubs for businesses. We are excited to see how the Metropolis Plaza will turn out, and how it will change Malta’s skyline.
