Issue link: https://maltatoday.uberflip.com/i/1418273
maltatoday | SUNDAY • 10 OCTOBER 2021 15 COMMERCIAL of the Manoel Island Founda- tion was the idea of the Gżira Mayor, Conrad Borg Manche and Dr. Claire Bonello who both publicly led the campaign during 2016 for MIDI to pro- vide access to Manoel Island and who are now both adminis- trators of the Foundation. The Manoel Island Foun- dation has provided a unique model to ensure that the devel- opment of Manoel Island cre- ates a balance between the de- velopment objectives set out in the concession granted to MIDI and the objectives of the local community. MIDI has commit- ted to bind itself and its succes- sors to provide public access to the Manoel Island public open spaces, the foreshore, the swim- ming zones and Fort Manoel. What is your outlook with regards to property develop- ment in Malta? Does Malta risk a property bubble which can burst anytime? And how can this be averted? For some time property de- velopment has been one of the main pillars of the local econ- omy and it has proven to be extremely resilient. Needless to say, the success of devel- opments like Tigne Point and Manoel Island is dependent up- on delivering a quality product which meets the different and contrasting expectations of the various stakeholders. What kind of market exists for these high-end properties or is this a case of speculation with people just buying with intent of selling? From your experi- ence in Tigne how easy is it to sell these properties? MIDI's experience at Tigne Point has shown that there is a strong demand for high quali- ty properties and this demand remains buoyant. The develop- ment contemplated at Manoel Island is unique as the density of development will be less than 10% and the building heights will be limited to four floors. This coupled with the historical setting, the amenities including the yacht marina, the pedestri- an priority environment and the extensive open public spac- es will make Manoel Island a sought-after destination. There is a lot of talk about need for new marinas. How do you assess demand in this sector? There is certainly a require- ment for new yacht marinas as current demand for berthing exceeds supply and demand is expected to continue to grow. MIDI's concession includes the yacht marina on the south shore of Manoel Island, which will be developed into a 200+ berth marina protected by a floating breakwater. This marina will replace the existing Manoel Is- land marina which is currently being managed by a third party on a temporary basis. What are your plans for Fort Manoel? What kind of cultur- al activities do you envisage taking place on a permanent basis in this landmark? Prior to MIDI's intervention, Fort Manoel was in a total state of neglect and abandonment. The restoration works under- taken by MIDI were extensive and included the reconstruc- tion of the internal buildings in- cluding the St. Anthony Chap- el and the restoration of over 26,000sqm of fortifications. In terms of the Guardianship Deed entered into with the Gżira Lo- cal Council, MIDI is commit- ted to ensure that the Fort re- mains accessible to the public and therefore the Masterplan contemplates that the internal spaces at the Fort will be curat- ed to include activities such as museums, interpretation cen- tres and other ancillary uses. Many have compared Manoel Island to some sort of central park, a potential island of green in an over developed area. Do you agree? The Masterplan for the devel- opment of Manoel Island con- templates public open spaces which will total 175,000sqm. The public open spaces include the 80,000sqm glacis park which surrounds Fort Manoel and a 35,000sqm landscaped public open space extending from en- trance of Manoel Island to the Lazzaretto quay. The public open spaces account for more than two-thirds of Manoel Is- land and MIDI is committed to ensure that these remain acces- sible at all times for the enjoy- ment of the public. The public open spaces being provided, in particular the glacis park, will go a long way towards provid- ing the outdoor recreational space which is sought after by people living in the area. Fur- thermore, apart from the public open spaces MIDI is commit- ted to provide amenities for the benefit of the local communi- ty, including a football pitch, amenities for bathers and a slip- way for local enthusiasts.