Malta’s first power station at Floriana to transform into boutique hotel

The Lascaris Power Station in Floriana will be restored and developed into a 20-room boutique hotel, high end offices, retail outlets, and restaurants as part of a continued regeneration of the Grand Harbour area.

Originating in the late 17 Century as a lime kiln and arsenal, the Crucifix Hill property was later repurposed in the 1700s for grain storage and oil vats. By the late 19 Century, the structure was transformed into Malta's first power station.

On Friday, Valletta Cruise Port Ltd, which owns the power station site, announced the signing of a build, operate and transfer (BOT) agreement for the restoration of the historic site with Valletta Bridge Ltd. The latter is a joint venture company whose shareholders are CPHCL Group, the mother company of the Corinthia brand, and Attard Bros Group.

CEO of Valletta Cruise Port and COO of Global Ports Holding Stephen Xuereb said the signing of the agreement marks the beginning of an “exciting new chapter” for one of the most distinctive historic industrial buildings within Malta and the Grand Harbour region which will ensure its preservation and sustainable future use. 

Valletta Cruise Port Ltd announced the restoration of the site together with Valletta Bridge Ltd, whose shareholders are CPHCL Group and Attard Bros Group (Photo: Valletta Cruise Port Ltd)

“Through the creation of an intimate boutique hotel and complementary amenities, we are not only restoring a remarkable landmark but also strengthening the destination and further contributing to the ongoing regeneration of the Grand Harbour,” Xuereb said.

“At CPHCL, we are honoured to be involved in this landmark building project, which will give Malta’s first power station a new life,” CPHCL Group CEO Jean-Pierre Schembri said. “The development will build on over six decades' experience in luxury hospitality and premium real estate development which is also in line with the government plans to regenerate the wider area.”

“Our focus is on delivering a structurally sound, technically robust redevelopment that respects the building’s original characteristics, while meeting modern standards of safety, performance and sustainability,”  Attard Bros Group Managing Director Carl Attard said.

The companies said the development aims to breathe new life into an underutilised heritage asset while preserving its historical significance and distinctive architectural character.

“Once completed, guests will enjoy a distinctive setting overlooking the Grand Harbour, while experiencing a carefully curated blend of heritage, comfort and contemporary hospitality,” the statement said.