SmartCity Malta Geared Up for 2009

Malta, January 13, 2009

SmartCity Malta is fully geared up for 2009. In the recent Board of Directors’ meeting, held on January 8th 2009, the Board approved SmartCity Malta’s strategic marketing plan and the augmented head-count for 2009. SmartCity Malta’s 2009 budget and increased equity were also discussed and approved to fund the 2009 activities.

The Board has also reviewed the operations of the company during the last quarter of 2008, noting with satisfaction the results achieved to date.

Mr Fareed Abdulrahman, CEO of SmartCity stated, “We are happy with the operational plan and budgets set and approved for 2009. We are ready for the challenging role of attracting business partners and to support them for their prosperity while operating from Malta. We will continue to engage in our international marketing programme, disseminating the value proposition of Malta and SmartCity Malta as the prime investment destination in the region for knowledge-based operations.”

Referring to the planned operations for 2009, Mr Claudio Grech, CEO of SmartCity Malta said that “2009 will be a crucial year for SmartCity Malta during which Phase One will start taking shape in preparation to host our first ICT and media partners in 2010. SmartCity Malta will strive to contribute to Malta’s vision as a leading hub for knowledge based industries.”

To date, SmartCity Malta has demolished all the factories in the previous industrial estate, cleaned the site, constructed an administrative block for its operations and in November 2008 commenced the construction of SCM-01 which is expected to be handed over to the first tenants in SmartCity Malta in 2010.