Arkadia to invest €7 million in new Valletta food market

The government has granted Valletta's indoor market on Merchants' Street, known as Is-suq tal-belt, to a private company, Arkadia Co. Ltd.

The company will invest €7 million on the redevelopment of the site in Merchants' Street.

According to Arkadia general manager Antoine Portelli, the lower floor will feature several stalls selling food on the model of food markets across Europe.

“The first floor will have a number of catering establishments - from the traditional hobz biz-zejt to oyster bars, following the model of a particularly popular market in Madrid which has a similar history to the market in Valletta,” Portelli explained.

Portelli said that the top floor would serve as a mulit-function floor ranging from a cafeteria in the morning to a more cultural and entertainment based space later on during the day.

Principal permanent secretary Mario Cutajar said that the company was in talks to create an agreement with the Malta Arts Council and V18 to ensure that the cultural calendar of the city would incorporate this area of the city as well.

Portelli said that the project would also include a complete restoration and restructuring of the 19th Century Victorian structure.

Cutajar explained that the choice of company was based on an expression of interest published last year for the development and restoration of the site, which had a very strong response with twenty proposals being put forward.

“A selection board made up of various government entities, finally shortlisted a number of projects after a technical and financial analysis had taken place,” Cutajar said.
Cutajar added that the market project would be finished by the end of next year 2016.

The parliamentary secretary also pointed out that the regeneration project for Strait Street would cost over 1.2 million, and that it was divided into various phases, all with “the ultimate aim of restoring the area to its former glory as an entertainment and cultural hub.”

Cutajar said that the road would be resurfaced with a lava material to better face the traffic that habitually goes through the area. Other plans for the street include new lights inspired by old images of the street and the removal of a flight of stairs in the area.

“Last year we issued an expression of ideas for Strait Street and we are now looking forward to the implementation of the projects,” Cutajar said.

Parliamentary secretary for planning and simplification of administrative processes Michael Falzon said that the company chosen for the indoor market project, had presented the best mixture of what the building should entail.

Falzon said that these planned projects and the current works at Castille square, among others, were all a part of the government’s commitment to regenerating the city.

“The government is also looking forward to various schemes that would help incentivize more business that would complement the current changes in the city,” Falzon said.

V18 Chairman Jason Micallef ‘caught by surprise’ at news of press conference

The Chairman of the Valletta 2018 Foundation Jason Micallef said that he was caught by surprise at the news of the press conference and he has expressed his disappointment.

“The Valletta 2018 Foundation is responsible for the regeneration of Valletta in the run up to 2018, as stated in the Valletta 2018 Bid Book.”

Asked at the press conference about the absence of V18 representatives, Cutajar said V18 was not in fact in charge of the regeneration project, but that they had been consulted during the selection process.

“The Foundation has been leading discussions and regularly meeting all stakeholders regarding Is-Suq tal-Belt and Strait Street over the past year-and-a-half. Last January, the Foundation also announced it is appointing an Artistic Director to oversee Strait Street’s long-term sustainability while it is being transformed into a permanent hub of activity.”

Micallef added that in January 2014, Cutajar and the Parliamentary Screteray who was then responsible for Planning and the Simplification of Administrative Processes, Michael Farrugia, together with Micallef himself had announced the regeneration of Is-Suq and Strait Street, as well as the Valletta Masterplan in a press conference.