SmartCity Malta clarifies its position on Marriott Hotels and Resorts

Reference is made to reports carried in the media through which hotel chain Marriott International rebutted publicity material being distributed by Ricasoli Properties Limited, the promoters of the Shoreline development, that Marriott Hotels and Resorts are planning a 300-bed five star hotel at SmartCity Malta.

This statement is being issued to clarify the position of SmartCity Malta.

SmartCity Malta would like to confirm that it is not party to any discussions, if there were any at all, between Ricasoli Properties Limited and Marriott International. SmartCity Malta further confirms that it never entered into any discussions with Marriott International for the building and/or operation of a hotel at SmartCity Malta.

SmartCity Malta also confirms that it has never mentioned Marriott International in any of its publicity material.

SmartCity Malta would like to state that Ricasoli Properties Limited, the property developers behind the Shoreline project, have entered into a promise of sale agreement with SmartCity Malta for the acquisition of a site within SmartCity. The final agreement, through which the land could be transferred, is yet to be concluded.

SmartCity Malta is not party to any publicity material and claims made by Ricasoli Properties Limited to any of its potential clients, investors or business partners.