Malta SmartCity is given green light

Tecom Investments and Sama Dubai have signed a deal to build a technology and media business park in Malta.

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By  Administrator Published  April 26, 2007

Tecom Investments and Sama Dubai have signed a deal to build a technology and media business park in Malta.

The Dubai-based developers will adopt the concept of Dubai Internet City (DIC) and Dubai Media City (DMC) to transform Malta's Ricasoli Industrial Estate into a state-of-the-art ICT and media business community, the firms said this week.

Under the agreement, Tecom and Sama Dubai will provide funding and expertise for the US$300million project, called SmartCity.

The project is the first application of Tecom's smart city concept outside Dubai.

"Malta was our choice for this project as it is very similar to Dubai in several respects. In terms of strategic location, size, connectivity, access to key markets, and high tourism orientation - both Malta and Dubai share a natural affinity," said Ahmad bin Byat, executive chairman of Tecom Investments, a subsidiary of Dubai Holding, in a statement.

Once completed, SmartCity will occupy nearly 358,000 square metres of land and feature tourism accommodation, entertainment areas, shops and a recreational area, as well as the ICT and media business park.

It is expected the development will create 5,600 jobs in IT and up to 10,000 jobs overall, as well as make an annual contribution of some US$725.6 million to Malta's GDP.

Tecom is also in negotiations with the southern Indian State of Kerala to develop an technology and media park in Kochi. The projects in Malta and Kerala are part of Tecom's efforts to roll out the smart city concept worldwide.

In addition to SmartCity, Tecom's investment in Malta also includes a 60% stake in telecom operator Maltacom.

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