Issue link: https://maltatoday.uberflip.com/i/1500345
3 maltatoday | WEDNESDAY • 31 MAY 2023 NEWS Rialto Operations is owned by GP Borg Holdings and Charlon Gouder CONTINUED FROM PAGE 1 According to plans submit- ted with the planning appli- cation, the company wants to restore the existing the- atre and cinema, and intro- duce a new theatre with ca- tering facilities, a restaurant, a rooftop 'multipurpose ven- ue', an interconnected social club, and a boutique hotel linked to an adjacent town- house. The plans foresee the addi- tion of a new floor atop the building, which will be used as a versatile multipurpose venue. GP Borg Holdings, known for its concrete business, has recently expanded into property development. A re- cent proposal for a 29-room, five-star hotel near Vallet- ta's Peacock Gardens, next to a scheduled 16th-centu- ry building associated with artist Mattia Preti, was met with strong opposition from the Superintendence for Cultural Heritage, resulting in the application being put on hold. Rialto Operations was set up in October 2021 and Con- rad Borg and Diane Buttigieg are listed as the directors. The PL is expected to re- tain ownership of the build- ing, having said in its call that it anticipates generat- ing revenue through a lease agreement with the success- ful bidder. The call had also empha- sised that the proposed com- mercial activities had to be financially viable and main- tain high standards. The Grade 2 listed theatre, originally opened as a cine- ma in 1956 before ceasing operations in 1988. Occupying a prominent location in Bormla's main square, opposite the Dock 1 promenade, the theatre showcases an elegant art deco design. It once boast- ed a capacity of over 1,000 attendees and featured ad- vanced cinematic technol- ogies such as Cinemascope widescreen and state-of-the- art sound systems. As a popular destination in its prime, the Rialto attract- ed moviegoers from near and far. Following its closure, the cinema was acquired by the Labour Party, which trans- formed it into a conference hall. It has been utilized spo- radically for party functions over the years and was the main location for press con- ferences given by PL lead- er Robert Abela during last year's election campaign. The PL is expected to retain ownership of the building, having said in its call that it anticipates generating revenue through a lease agreement with the successful bidder The Rialto has been an icon in Bormla for decades