GO : Dubai Holding streamlines business with sale of SmartCity Malta to subsidiary MPC
SmartCity Malta, the luxury residence and commercial office project at Xghajra, is to be sold to
SmartCity was originally promulgated by
Since then, GO has spun-off its telephone exchanges into a publicly listed property company called
GO was at one point owned by
Now MPC has announced it has entered into discussions with the owner of SmartCity Malta – SmartCity Dubai, which is a subsidiary of
The move confirms previous rumours of waning interest in Malta’s Smart City, once billed as a futuristic “internet city” which has since then turned into a project for development speculation.
“MPC is in the initial stage of evaluating this potential opportunity through appropriate due diligence and will adhere to all applicable legal requirements throughout the process. Any eventual agreement that may be reached between the company and
SmartCity Malta is also owned by the Maltese government through a 20% stake, while the rest if owned by SmartCity Dubai.
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