Property developer Joseph Portelli eyes Labour’s Rialto in Bormla

Gozitan entrepreneur Joseph Portelli has set his eyes on the Rialto Cinema building in Bormla, which belongs to the Labour Party.

Portelli is believed to be one of several developers that have shown an interest in the majestic building, which the PL wants to commercialise, sister newspaper Illum reports.

Only recently, Portelli, through his company J. Portelli Projects, became the main sponsor of the locality’s regatta club.

An expression of interest for the commercialisation of the disused cinema issued by the PL earlier this year closes on 31 May.

The party wants to remain the owner of the site but expects a return through a lease agreement with the winning bidder. The party wants the proposed commercial activities to be “viable” and of “a high level”.

The PL is expected to select the winning the bidder by December this year.

The Rialto was a cinema that stopped operating in 1988. Since then, the building has only been used sporadically for some PL events. It is a Grade 2 building and occupies a prominent location in Bormla’s main square opposite the Dock 1 promenade.

The theatre used to accommodate over 1,000 people and opened in 1956.

Grade 2 buildings are of some architectural or historical interest. Alterations to the interior will be allowed if proposed to be carried out sensitively and causing the least detriment to the character and architectural homogeneity of the building.

Portelli is from Nadur and his recent sponsorship of the Bormla regatta club raised eyebrows. It followed Portelli’s more recent sporting venture when he became president of Hamrun Spartans football club, which went on to win the Premier League title.

Portelli’s company is involved in several construction projects, including Paceville’s Mercury Towers.

Earlier this month, the Gozitan developer was held for questioning by police over alleged connections with former superintendent Raymond Aquilina.

Aquilina was arrested and interrogated over allegations that he leaked information on impending money laundering raids on murder middleman Melvin Theuma.

But police for the Financial Crimes Investigation Department widened their investigation into Aquilina and certain property deals he may have been involved in.

Portelli was interrogated over possible links with Aquilina and certain property deals that took place.

Second District Labour MP Glenn Bedingfield told Illum that he agreed with the PL’s strategy to commercialise the disused building but emphasised that this should also include cultural spaces to be enjoyed by residents and visitors.

His views were echoed by Bormla Mayor Alison Zerafa Civelli. She hoped the place could either be revived as a theatre or cinema as it was before, or providing space for artistic and cultural activities.

READ ALSO: Saviour Balzan | Why does a construction magnate sponsor a regatta club?