Some of Malta’s most prominent businessmen are scrambling to form consortia ahead of what is expected to become a lucrative public concession, with the government preparing to issue a tender for the Manoel Island yacht marina by the end of the year.
Maritime industry sources told The Shift that leading figures in the construction, yachting and hospitality sectors have already begun holding discussions aimed at establishing joint ventures capable of competing for the long-term concession.
The race follows the government’s decision to terminate the MIDI plc concession over Manoel Island, opening the way for a fresh commercial concession for the marina, which Prime Minister Robert Abela has confirmed will be issued through a public call.
For several years, Manoel Island Yacht Marina Ltd – a company formed by various businessmen – has operated the marina under a series of annual lease agreements with MIDI plc. Sources familiar with the operation said the annual nature of those contracts discouraged significant investment because the operators had no certainty that they would retain control of the marina beyond each annual renewal.
The marina is closely linked to the adjoining Manoel Island Yacht Yard, with several of the businesses involved in the marina also participating in its operation. However, the lack of security over the site’s future meant the facility remained largely in maintenance mode rather than undergoing the upgrades needed to compete with leading Mediterranean marinas.
Industry sources said the forthcoming concession is expected to require bidders to partner with an established international marina operator capable of managing the facility to international standards and attracting larger yachts and superyachts to Malta.
“The expectation is that the government wants a reputable international brand operating the marina rather than simply awarding it to a local operator,” one source said.
The concession is expected to attract intense competition given the strategic location of the marina, directly opposite Valletta, and the growing demand for high-end berthing facilities in the central Mediterranean.
Sources also revealed that Prime Minister Robert Abela had initially explored awarding the concession directly to a major Maltese developer with existing links to MIDI following the termination of the Manoel Island concession.
However, it seems that plan was abandoned after legal advice concluded that such an approach would expose the government to significant legal challenges and breach public procurement principles.
Abela subsequently announced that the marina would instead be offered through an open public concession.
While the government, through Transport Malta, has yet to publish the tender documents, industry insiders expect the concession to be issued before the end of the year.
The decision has been met by protests from environmental groups and residents who said the government had “betrayed” the public when promising Manoel Island would be returned to the people.
