During a public hearing held this morning, MEPA discussed and approved an application for the full development permit of the Metropolis Plaza project – a mixed-use lifestyle development located in the heart of Gzira set to pave the way for the regeneration of the Gzira area and inject a new lease of life in the neighbouring communities.
Metropolis Plaza is the tallest building currently being developed in Malta and includes residential, commercial, health, fitness and leisure facilities as well as extensive underground parking.
The development consists of:
• 3 high-rise buildings of 13, 27, and 33 floors respectively;
• 4,000 square meters of office space spread over 2 of the lower floors;
• 2,000 square meter open piazza including a number of retail outlets serving both Metropolis residents, visitors and neighbouring residents;
• 500 underlying car spaces;
The developers behind the project - Metropolis Developments Ltd – are aiming to create a catalyst project for urban regeneration which will encourage further high-quality re-development in the area.
“The Metropolis project will be injecting close to €60 million into the local economy, ranging from construction to finishing, consultancy and technical expertise. The project will also contribute to generate and sustain substantial levels of employment. We are very satisfied that MEPA has brought the application consideration process to a positive end” said Mr. Joe R. Aquilina, Chairman of Metropolis Developments Ltd.
“Our investment is wholly directed to an area which is currently attracting several new investments. This high level of interest is contributing in no small measure to accelerate the redevelopment and regeneration of Gzira and the surrounding areas. Our vision remains that of providing a strong injection of economic activity into the area, leading to the creation of new residential and commercial communities. These projects will boost the overall image and activity in this region” added Mr. Aquilina
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