Issue link: https://maltatoday.uberflip.com/i/254848
14 BUSINESS & FINANCE T he race for the best ideas on how to regenerate the inner harbour area and to improve Valetta environs is being championed by Chris Cardona, who took over the task which was started under the previous adminis- tration. The projects are all listed in the Grand Harbour roadmap and one recalls that the former investment minister Austin Gatt was the author of this ambitious plan. He is after all, a resident of 'the City' and knows best on how to augment its faded values. Furthermore, being the pet idea Gatt's has the advantage of being the same minister who gave birth to Smart City and the much discussed Arriva "mass transportation" solution (now disbanded as a insolvent company and sold for a song). This time, the Valletta project is more ambitious as it incorporates the goal of making Malta a maritime hub. To start with, there is a farsighted plot for the removal of all heavy industrial activity from the Senglea side of French creek, where the current quay will be upgraded and converted into a new cruise liner terminal. The Three Cities are also bound to get a major boost from cruise liner tourism, which as confirmed by NSO is growing year after year. Will growth be sufficient to justify the expense to expand the old traditional "Dghajsa "service from and to the city"? This philosophy flows naturally to other ideas connected with the improvement of access and mobility of visitors to the zone. Regrettably, the Malta Environment and Planning Authority turned down the cable car application, which was a splendid piece of engineering structure comprising a cable car project financed by the Viset Consortium, connecting the Pinto Sea Port to Valletta. This is similar to the successful cable car connection linking thousands of visitors to Sonoma island to the Singapore mainland. Perhaps it needed some modification to blend in with the surroundings, yet it is more than certain that visitors who have seen the massive cable transportation project in action in Singapore can fully agree to the adoption of the cable car project in Valletta. It is a pity politicians refrained from endorsing it, as it would have vastly improved accessibility in, to and out of the City. Like many projects included in the 'Connections' idea proposed by Anglu Xuereb. Xuereb's Cable Car Proposal was innovative – if somewhat provocative – and functional, considering the serious mobility problems pertaining to Valletta. Additionally, the Regeneration project (sadly in abeyance) could include the restoration and rehabilitation of buildings, the upgrading of public areas, and possibly the demolition and redevelopment of specific buildings. Modern urban design is a delicate process trying to provide the free-flow and permeability of the city and public spaces, so why do we not start seriously redesigning the approaches to the old City (with apologies to the redesigned hole-in-the-wall Gate by the world- renowned architect signor Piano) . This is a long-term plan such as that original plan in 1996 that saw the regeneration of the Cottonera waterfront. The financing of the harbour regeneration project may also attract EU funding, as has happened in other EU ports but of course the extra funds from the Investor scheme may make a dream come true. Thus, it is encouraging to note that Dock No. 2 is to be converted and used for the repair and maintenance of super yachts, thereby extending the current highly profitable super yacht repair industry, which so far is now limited to Dock No. 3. This is a good idea now that the Privatisation Unit verdict selecting the tenderer to operate this asset has been concluded. Work also started on commercialisation and redesign of the dock, which unfortunately due to disputes with the Italian contractor had stalled, much to the chagrin of the Bormlisi. One augurs that dockside areas in Cospicua which are currently neglected and subject to high levels of deprivation will start to be renovated now under the baton of the Energy Minister Joe Mizzi. Again, MEPA in the past dragged its feet saying that the harbour regeneration idea is too ambitious and needs more resources to support the scheme and its various plans before issuing permits irrespective of the crying need for immediate intervention considering their present state of decay (some damaged extensively due to war). Yet, as can be expected, it is encouraging that the new administration is focusing on the regeneration of the Grand Harbour area – action is needed instead of just best wishes. If you go there today you will be appalled to find that unfinished construction work in Dock no 1 has resulted in a landscaped area with trees planted and healthy looking shrubs where only last year there were lakes of stagnant and smelly water-breeding mosquitoes while Dockyard-Galley Creek was notable for its filth. Again, the sweet sin of the successful commercialisation of the Cottonera Marina has now resulted in bilge water being pumped into the waters of Dockyard Creek from some of the many pleasure boats that are moored in the Grand Harbour Marina. Worse still, the quantity of discharged oil from the motor vessels moored in the Grand Harbour Marina, some of which are moored there for major dock repair work, has discoloured the underwater eco system. Yes, progress comes at a price, yet is it a dream to wish that we can wake up one morning and witness a complete regeneration linking Rinella – Smart City – the Cottonera and Valletta waterfront as one contiguous development? On a positive note we find that the famous Venetian Casino di Venezia is occupying the restored Scamps Palace and its illustrious patrons are regaled to gamble in its former glory. The adjacent hotel is still being constructed and this will go a long way (if funds are made available) to augment the façade of the Casino. Not so positive was the construction (as approved by MEPA) of the unsightly looking apartments – replete with grey steel girdles bang on their facades – all facing Fort St Angelo which does not match its austere vernacular. It is true that waterfront redevelopment can take a long time, sometimes even decades and as always governments aim at achieving short- term social and economic benefits from a long-term development processes, and in bridging from "now to then" they try to minimise disruption and maximise the economic benefits. Back to the harbour regeneration… it is true that any large-scale conservation project will inevitably stimulate the renovation of various key spots of the inner harbour area and designs have to blend and respect with great sensitivity the aesthetic value and historical significance of a gem built in the Renaissance period. So can we afford to make the same mistakes as when MEPA approved the ugly looking cacophony of flats by MIDI consortium facing Valletta – built on the Tigne Point – or the building of three ugly towers on the Xemxija ridge? The answer is no. We have to be careful to preserve the legacy of our ancestors. Even in the times of the Knights of Malta, when the Gross National Product was nowhere where it is today, they spared no expense and engaged the best international architects to erect palaces and auberges in full baroque splendour. While mindful that the fortified city had now to match its modern use and of course much has been renovated within the walls such as the upgrading of St George's Square, with its Melitensium Amor inscription – this has now been given back its former splendour, bringing it, as it were, into modern times, with water jets dancing to folkloristic tunes. What a change from the utterly drab car park that it had been so shamelessly reduced to for so many years! But there have been other significant developments in St James Cavalier, such as, what was once part of a war machine and, later still, a government printing press, has been turned into an arts and entertainment centre. Other parts of the City are gradually being restored and the quality work already done, as, for example, the façade of the Palace, the library, Auberge d'Aragon, and Castille which are now showing their true colours. What needs to be taken in hand is rigorous action to put to an end to the absolutely chaotic and shambolic situation of faded façades in Republic Street and other streets of the capital. But with a deficit exceeding the 3% threshold and a €5 billion national debt bequeathed by the previous administration, how can we afford such works? There are still far too many buildings in Valletta which are empty or underutilised and these have vast commercial value if restored and properly marketed. To conclude, can this be a golden opportunity to spruce our walled Baroque City and take full advantage of the title of the European Capital of Culture in 2018? The polishing of our faded jewel must continue in earnest. George M. Mangion is a partner in PKF an audit and business advisory firm. gmm@pkfmalta.com maltatoday, WEDNESDAY, 5 FEBRUARY 2014 YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Valletta 2018 – Polishing a faded jewel George Mangion Is it a dream to wish that we can wake up one morning and witness a complete regeneration linking Rinella – Smart City – the Cottonera and Valletta waterfront as one contiguous development?