BusinessNow.mt was informed that “in two weeks” machinery will be set up to work on the Metropolis Plaza. Since the site is already excavated, the next stage of development is to “build up” the megaproject.
The information comes to light through Keith Seychell, a restaurateur who owns Capo Crudo, Mykonos and the new Cut Steakhouse.
Mr Seychell is also active in the property sector, and is involved with the Metropolis Plaza high-rise project.The project is owned by Raykan B.V., the Dutch Company of Libyan entrepreneur Jalal Husni Bey, who is part of the Libyan conglomerate HB Group
Following years of stasis, the Metropolis project is finally on track to being built, as was confirmed by this newsroom recently.
The Metropolis Plaza is set to include three high-rise buildings, one of which will have a helipad, and another is set to have a pool on their roof. The Metropolis will feature several residential units, offices and retail outlets.
The permit for the project was first issued in 2009 and has been consistently renewed since, with the current permit expected to expire in September 2023. However considering that the building-up of the project is still in its early stages, it is highly likely that it will be renewed once again.
The local company behind the project is Metropolis Developments Limited, which also operates its own contracting company called Metropolis Contracting Limited. Mr Bey, a business partner of Mr Seychell, is the director for both the aforementioned companies.
A recent visit to the construction site by a member of this newsroom revealed that surrounding area is on track to being developed into a new commercial centre within Gzira.
Aside from the upcoming Metropolis Plaza which promises several office spaces, the ST Tower is being built adjacent to it by Michael Stivala, chairperson and CEO of the major development company Stivala Group, as well as chairperson of the Malta Developers Association. Meanwhile on another side of the Metropolis, the Wembley Business Centre is also being built.
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