MIA given green light to invest further through master plan approval
Malta International Airport has been granted approval by the Planning Authority for its master plan, through which the company will plough at least €100 million into the development of its terminal infrastructure, as well as the surrounding airport campus.
This approval gives the company the green light to proceed to the planning stage of its forward-looking investment programme, which will be executed in three major phases.
“Through this sizeable investment we expect to solidify Malta International Airport’s important role in the local economy, as we unlock its potential to welcome more tourists and generate further employment opportunities. We also envisage that this programme will build on the successes of past investments and go on to grow the airport campus into a go-to destination for business and leisure,” said Malta International Airport CEO Alan Borg.
Since its privatisation in 2002, the company has consistently invested in the airport, with the aim of establishing it as one of the best airports in Europe. Over the past 16 years, Malta International Airport’s infrastructure has benefitted from an expenditure of more than €110 million, with some of the most noteworthy upgrades brought about being a terminal expansion, a terminal reconfiguration that will allow further traffic growth, and the development of SkyParks Business Centre.
In the short term, the company’s focus will be retained on the completion of its Terminal Reconfiguration Project, which has already delivered a number of improvements within the terminal building. In parallel with this, and together with its consultants, the company will also be actively working on drafting design plans for a lateral expansion of the terminal.
This development will be undertaken with the aim of putting Malta International Airport in a better position to keep delivering the excellent airport experience it places so much importance upon to an increasing number of passengers and enhancing the islands’ connectivity to the rest of the world.
In line with the trend that is seeing airports move away from serving solely as passageways to the world, the company will also continue evolving the surrounding airport campus into a business and leisure complex, geared at providing high-quality facilities and more work opportunities.
In fact, in the last quarter of the year, it is envisaged that works on the construction of a multi-storey car park providing more than 1,300 parking spaces, will commence. The master plan also provides for the construction of SkyParks II, which will house office and retail space and a business hotel.
The company’s master plan was subject to a Traffic Impact Assessment (TIA) and an Environmental Impact Assessment (EIA), as part of which a public consultation period gave local stakeholders, environmental NGOs, and government authorities the opportunity to review the master plan and submit their observations.
For more information about the master plan, you can visit www.maltairport.com/corporate/investors/investments.