Business | Technology
Tecom and Sama launch SmartCity Malta first phase
The $300m joint venture between Dubai Holding units has attracted interest of the international ICT sector
- Staff Report
- Published: 23:44 June 15, 2008
Dubai: Phase-1 of SmartCity Malta - a $300 million joint venture between Tecom Investments and Sama Dubai, both Dubai Holding entities - was launched on Sunday by Ahmad Bin Byat, executive chairman of Tecom Investments and chairman of SmartCity, and Dr Lawrence Gonzi, Prime Minister of Malta.
Since the signing of the final agreement between SmartCity and the Government of Malta in April 2007, the project has attracted the interest of the international information and communication technology (ICT) community, specifically in the Mediterranean region, and attracted key global business partners, according to officials.
The first phase of the project is set to provide a unique business and lifestyle experience, entailing a mix of components catering to the knowledge-based township's demand for office space, shopping boulevards and residential units.
An area of 20,034 square metres allocated for the ICT and media sector will provide an enabling environment, intelligent infrastructure and premium support services.
The project is designed to be the most preferred destination for regional and international firms aiming to set up operations and service European and North African markets.
Ahmad Bin Byat said, "We envisage all SmartCity entities to evolve as thriving centres of excellence for knowledge-based industries in their respective regions." He said that the SmartCity concept is based on the successful business models of Dubai Internet City, Dubai Media City and Dubai Knowledge Village under the Tecom umbrella.
"SmartCity has the ability to tap into the international markets and further extend its partnership with existing associates for mutual expansion," he said.
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