11 proposals submitted for White Rocks development

Eleven investors have submitted their proposals for the development of the former White Rocks complex. Seventeen interested parties collected the expression of interest offering up 45 hectares (449,885 square metres) of land for "modern, creative and innovative" ideas from prospective entrepreneurs.

A committee will now be appointed to evaluate the proposals and present the government with a list of recommendations on how to best utilise the land based on the submissions received.

“We are looking forward to seeing this project completed,” Economy Minister Chris Cardona said.

The government is targeting “a village of luxury units” that will be fully developed and funded by the private. Cardona said no public funds will be accessible.

The 65-year-concession includes a Natura 2000 site and excludes land reclamation.

The former White Rocks complex comprises 38% of the area up for concession.

Contrary to the former development brief for a sports village, which did not allow real estate development, the new brief will allow the development of real estate and luxury five-star hotels, luxury units, and 'high-quality lifestyle community' villages.

Preference is being shown to hotels with suites instead of rooms, huge gardens with fountains and a tranquil ambience.

Under the previous administration, the White Rocks Project was expected to include €200 million in investment and generate hundreds of jobs but the project fell through. Over €500,000 was spent in government consultancies researching the finance and design of the project.