Shoreline Mall p.l.c. has successfully closed the Offer period for its Bond Issue well ahead of its closing date. The Bonds were fully subscribed within 5 days from the opening of the Offer and the Company expects that the Bonds will be listed by end of July 2020.
Mr Ben Muscat, the Company’s Chairman stated: “Considering the adverse current market conditions created by the pandemic, the Issuer’s board of directors regard the full subscription to the Bonds in less than a week from the Offer’s opening as an emphatic vote of confidence by investors in the Shoreline Mall Project. Our landmark development is creating a positive momentum for both commercial and residential investment in the South of Malta and in the process, will improve the quality of life in this location not least by creating significant employment opportunities.”
The Company would like to thank its Sponsor, advisors, financial intermediaries and the public at large, in making this Bond issue a success.
The Shoreline Mall is designed to be the most modern and innovative mall on the Island, creating a unique and sophisticated destination within SmartCity Malta. The Company has, to date, concluded a large number of Letters of Intent and Expressions of Interest with representatives of the major retail brands already present in Malta, as well as with representatives of a number of international fashion brands not presently in Malta. The Mall’s brand and retail mix is continually reviewed by Shoreline Management and its retail consultants with a view of delivering a unique retail offer.
It is to be noted that no significant retail shopping malls currently exist in the South, which, inversely is where most of the Maltese population resides. Currently these residents have to drive or commute towards other parts of the Island to visit shopping facilities. This is the primary target market of the Mall, given that it will be within a 15-minute drive from the most densely populated part of the Maltese Islands.
The Shoreline Mall will be offering a safe, unpolluted and child-friendly shopping experience like no other, supported by a spacious, secure and intelligent parking facility for ease of access and maximum convenience – surely the future of shopping in Malta.
This article does not intend to give any investment advice and the contents herein should not be construed as such. The value of investments may increase or decrease and past performance is not an indication of future performance.
