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Chambray: A sad story of an unsuccessful project
(17th December 2004)

The Fort Chambray development was back before parliament, eleven years after the house approved a 99 year emphyteutical grant of the fort to Fort Chambray Ltd. Public Investments Minister Austin Gatt gave a detailed account of what he described as "the sad story of an unsuccessful project".

The emphyteutical grant to Fort Chambray Ltd owned by Roberto Memmo had been recently terminated and transferred to Dr. Michael Caruana of Victoria. The emphyteusis will run to 2092 and the groundrent would remain unchanged at Lm12,000 but Dr Caruana would pay a premium of Lm1.5 million although this time no hotel will be built. The government would also be selling its 49 per cent shareholding in the project and will gain around Lm3.7 million.

Meanwhile, Opposition deputy leader Charles Mangion said that the government was selling a 'prime site' at social housing prices while recalling that the opposition had been strongly against the original transfer of Fort Chambray. He also stated that since no hotel will be built, the tourism aspect was removed from the project.

The previous 99-year grant of the fort had been approved by parliament in January 1993, with the contract providing for 236 residential units, a hotel, commercial establishments, refurbishment of the old barracks into a commercial centre and restoration works.

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to learn more about Fort Chambray and the
"sad story of an unsuccessful project"
 (written by Kevin Cauchi)