On Sunday evening, MIDI plc stated that it is committed to continuing discussions in good faith to identify a solution that supports the Government’s expressed aim of regaining control of Manoel Island.

The company said it will keep the market informed of any significant developments in a transparent and timely manner.

MIDI acknowledged that recent statements by the Government have intensified calls to reconsider the future of the Manoel Island development.

Earlier that day, Prime Minister Robert Abela described his hope to see Manoel Island returned to the people as “a dream.”

MIDI was granted a 99-year concession in 2000 to develop luxury residential projects on Manoel Island and Tigné Point. This agreement was approved by the then Nationalist Government with support from the Opposition Labour Party.

In its statement, MIDI said it remains fully compliant with the existing Deed of Emphyteusis. However, the company confirmed it is open to negotiations with the Government, aiming to balance the national interest with the responsibilities it holds towards its shareholders and bondholders.

MIDI also acknowledged the Government’s declared wish to designate Manoel Island as a national park and stated its openness to a new agreement that reflects today’s political and social priorities.

Environmental group Flimkien għal Ambjent Aħjar (FAA) welcomed MIDI’s position, crediting a seven-year campaign involving grassroots activism, Moviment Graffitti, over 40 NGOs, and a petition signed by 29,000 people.

FAA argued that turning Manoel Island into a public heritage park would help avoid overdevelopment and related problems such as increased traffic and pollution.

What do you think of this new development?

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