Jan 2013 - MFCC signs Land Deed

2nd January 2013

MFCC has recently signed a deed with the Government of Malta, to lease the land it currently occupies together with the adjacent land currently occupied by the Assocjazzjoni Sports Muturi to develop these sites into the permanent Malta Fairs and Conventions Centre.

The contract was signed by Mr. Gerald Borg on behalf of MFCC and the Minister for Fair Competition, Small Business and the Consumer Dr. Jason Azzopardi.  Mr. Borg is MFCC’s Managing Director.  This deed also consolidated the Catermax shareholding within MFCC making it the majority shareholder of MFCC.

By virtue of this contract, the government passed on to MFCC the 28,000 square metres of land it currently occupies and the 38,000 square metres currently occupied by the Assocjazzjoni Sports Muturi.  The latter will be moving to another plot of land close by, which is double the area that the
Assocjazjoni currently occupies, with the €250,000 cost of relocation being borne by the MFCC.

The government is passing on the land to the MFCC on an emphyteusis for 65 years. The emphyteusis was granted following a Parliamentary resolution.  The Malta Fairs and Convention Centre is investing €10 million for the construction of a new permanent centre covering a maximum footprint of 20,000 square metres. The planned exhibition centre will have state of the art facilities and will be constructed over the next few years enabling Malta to attract more conference tourism.