PORT COTTONERA MARINA

CLIENT

GOVERNMENT OF MALTA

 

LOCATION

MALTA

 

SERVICES

MARINA DESIGN, MARKET RESEARCH, ECONOMIC FEASIBILITY

Port Cottonera Marina

Port Cottonera, on the east coast of Malta in the heart of the Mediterranean Sea, is one of the largest and deepest natural harbors in the world. Located just east of the capital city of Valletta, the site is now home to Grand Harbor, one of the finest marinas in the world, accommodating 220 berths up to superyachts of 300’ in length.

Not long ago, however, the site was home to an abandoned shipyard surrounded by 400-600 year old structures. With the loss of the commercial ship building industry, the local community was in need of a new economic catalyst. Ron Schults was commissioned by a group of local Maltese investors to prepare a marina feasibility study to determine the viability of an interna-tional destination class marina project. Coupled with adjacent hotel and residential developments, the feasibility study led to an international tender for a design/build/operate/transfer proposal to develop the project in partner-ship with the Maltese government.

Several years were needed to receive all governmental approvals, with significant support from the US Embassy in Malta. After extensive negotiations, the project scope was increased significantly and the Schults-lead team developed an additional hotel and casino project which was subsequently sold to the Casino di Venezia in Italy. Key technical studies included a coastal wave analysis to anticipate the wave climate and its impact on the floating dockage system and confirm the safe mooring of superyachts. Additional project components included a ten meter wide public promenade along the entire waterfront.

Financing was complicated by the property being available only on a 49 year lease rather than freehold interest, and historical factors were also involved since many of the buildings needed to be restored, including palaces that were previously used by high ranking political officials.

Anguilla
Megayacht

Port Cottonera, on the east coast of Malta in the heart of the Mediterranean Sea, is one of the largest and deepest natural harbors in the world. Located just east of the capital city of Valletta, the site is now home to Grand Harbor, one of the finest marinas in the world, accommodating 220 berths up to superyachts of 300’ in length.

Not long ago, however, the site was home to an abandoned shipyard surrounded by 400-600 year old structures. With the loss of the commercial ship building industry, the local community was in need of a new economic catalyst. Ron Schults was commissioned by a group of local Maltese investors to prepare a marina feasibility study to determine the viability of an interna-tional destination class marina project. Coupled with adjacent hotel and residential developments, the feasibility study led to an international tender for a design/build/operate/transfer proposal to develop the project in partner-ship with the Maltese government.

Several years were needed to receive all governmental approvals, with significant support from the US Embassy in Malta. After extensive negotiations, the project scope was increased significantly and the Schults-lead team developed an additional hotel and casino project which was subsequently sold to the Casino di Venezia in Italy. Key technical studies included a coastal wave analysis to anticipate the wave climate and its impact on the floating dockage system and confirm the safe mooring of superyachts. Additional project components included a ten meter wide public promenade along the entire waterfront.

Financing was complicated by the property being available only on a 49 year lease rather than freehold interest, and historical factors were also involved since many of the buildings needed to be restored, including palaces that were previously used by high ranking political officials.

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