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Matthew Vella
The former site of the Corinthia Mistra Village in Xemxija has been earmarked for a mega-project the size of four football grounds – the latest project of the Kuwaiti Al Saleh family, a real estate company which specialises in property across the Middle East and North Africa.
The Gemxija Residences project, 1,000 apartments plied as “urban lifestyle at its best”, are expected to cover over 40,000 square metres of land and are expected for completion by 2010.
According to the Malta Environment and Planning Authority’s website, the demolishing of the former holiday complex is expected to be completed by December.
The application for the construction of the new apartments is still being considered. According to the North West local plan, building heights in the new village could rise to as much as eight floors.
Xemxija has also been identified as a potential site for a yacht marina. But according to the plan this development is not likely to happen in the medium term and may well be beyond the life of this local plan.
Gemxija Crown Ltd is leading the project, whose main shareholders are JPM Brothers Ltd – owned by Jeffrey and Peter Montebello – and Amsterdam-based Marem BV.
The company’s directors are former Central Bank governor Francis Vassallo, Al Massaleh’s vice-chairman Najeeb Al Saleh and Ahmad Al Hassan, Jeffrey and Peter Montebello, and Stephen McCarthy, a director of Union Print.
mvella@mediatoday.com.mt
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