Last Updated on Monday, 24 June, 2019 at 11:21 am by Christian Keszthelyi
The Shoreline Residence Ltd has just launched the project for another two residential blocks — namely Block A and Block H — at Ricasoli in Kalkara, according to the press release sent to Business Malta.
The developer insists that the apartments and duplexes will offer clients “affordable luxury in a secure, car-free and clean environment, close to all that matters. They come with the added value of some of the most exciting investments and retail options so lacking in the south,” according to the press statement.
“The entire project is to be built all at once,” said Andrew Gatt, Sales and Marketing Manager at The Shoreline Residence Ltd. “The shopping mall is set to open to the public in Q1/2022, handover of the first finished units to clients is scheduled for Q3/2022. Meanwhile, the Shoreline is currently evaluating the construction tender as construction works are planned to start by the end of this year.”
In terms of environmental responsibility, Maltese company En-sure Ltd is carrying out site monitoring following international standards, using sampling protocols in accordance with approved method statements.
Block A will be composed of 18 two-and three-bedroom units with panoramas, while Block H will present a foreshore row of terraced units on three levels with private lifts that offer views on the Mediterranean Sea.
There will be approximately 370 luxury apartments, served with a two-storey, double-height shopping mall covering 25,500 square meters, with space for underground parking, overlooking the Smart City Laguna, recreation areas and other amenities. “The Shoreline is considered as one of the largest private construction projects in Malta to date,” the developer says.
As these residences enjoy a Special Designated Area Status (SDA), they can be purchased by both EU and non-EU nationals with the same acquisition rights as Maltese citizens, and without the need to obtain Acquisition of Immovable Property (AIP) permits, as the press statement sent to BM says.
Polidano Group started works on The Shoreline Residence’s multi-purpose project at Ricasoli near SmartCity Malta in mid-May. Malta-based Polidano won a tender for the complete excavation of the site of the residential and retail project.