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Newspaper post YOUR FIRST READ AND CLICK OF THE DAY WWW.MALTATODAY.COM.MT SUNDAY • 23 DECEMBER 2018 • ISSUE 998 • PUBLISHED EVERY WEDNESDAY AND SUNDAY SUNDAY • 23 DECEMBER 2018 • ISSUE 998 • PUBLISHED EVERY WEDNESDAY AND SUNDAY • PUBLISHED EVERY WEDNESDAY AND SUNDAY maltatoday SUNDAY • 23 DECEMBER 2018 • ISSUE 998 • PUBLISHED EVERY WEDNESDAY AND SUNDAY today today • PUBLISHED EVERY WEDNESDAY AND SUNDAY today • PUBLISHED EVERY WEDNESDAY AND SUNDAY THEIR HOPES FOR 2019 Teodor Reljic taps into Malta's brightest artists and talents to fi nd out what could be in store for 2019 MALTATODAY2 €1.95 TAKING #METOO TO BRUSSELS Pia Micallef: 'We're fed up of the business as usual narrative and have demanded action' PAGE 13 MATTHEW VELLA INTERNATIONAL Hotel Invest- ments has been given a hefty 57% cut on the total land value of the St George's Bay peninsula, for having acquired the neighbouring Radis- son hotel after their acquisition of the Island Hotels Group. IHI plc – Malta's foremost inter- national hotel chain – was given a €33 million 'discount' from the €121 million valuation of peninsu- la development, as a "credit" on the Radisson hotel when they acquired the Island Hotels Group in 2015. IHI plc is planning a €600 mil- lion redevelopment to replace its two hotels and the Radisson with a six-star and five-star hotel, as well as residential and office develop- ment, and possibly a land reclama- tion project. But the hotel giant will require approval from Malta's parliament so that the lease it was given in 1992 for strictly touristic develop- ment only, is amended to allow the mixed-use development. In their valuation for the land in question, auditors Deloitte adopt- ed land values it used for the site at the former ITS college where the DB group will develop its own high-rise hotel, but then factored in a series of credits to the total of €121.7 million valuation of the land. The total value was calculated at €1,250 per net internal square metre for all residential and office areas – roughly the price for par- liament's waiver on the develop- ment restrictions and for a 99-year concession on the land. Of that total valuation, Deloitte deducted €16.1 million for the in- frastructure costs that IHI will fork out for the public areas around the project. PAGE 2 Corinthia land values given 57% 'discount' Merry Christmas to all our readers and contributors! MaltaToday Midweek will not be published on 26th December and 4th January 2019 NEXT SUNDAY Our special 'Looking Back' edition with our staff writers' unique analysis of the year's happenings Christmas gift for Adrian... Healthier polls as Delia sees out 2018 PGS 10-11 mt survey Delia gets trust boost as voters warm up to PN IHI gets €33 million lopped off total land value for having acquired Radisson hotel when it took over Island Hotels Group in 2015 SUNDAY • malta SUNDAY • Ballad of the Busker The 1960s- inspired rock pop band reveal all in our Q&A MaltaToday2 2 INSIDE