1. All projects have to be assessed for their feasibility. If they are not feasible they will not be proposed in the first place. When a site is being under consideration for any development various options will be considered, then one assess the feasibility of the various options and the best option will be proposed. In the case of the regeneration of an area, one have to think about the whole project, the activity within that conurbation and its context. The launching of such projects would then generate more food for thought.
2. There are several issues. In such large projects the impact on the economy, the impact on the tourism sector, the cultural heritage, the social impact and the impact on the environment will be the primary issues. A number of issues will then be considered in detail. Then there are the impact of the costs and the financing of the project itself.
3. This is always an important question in these initial stages. This is fundamental to the whole concept. The strategy of our government was always to regenerate areas which are more associated as derelict sites. Sites as the Valletta Waterfront and Cottonera had in actual fact gave a complete regeneration of the area from a derelict one. Moreover the architectural heritage has been regained, today these are both important venues.
The vision for Marsamxett is an outstanding one. The whole project seems feasible one as although the issues of costings have to be studied, this vision will have a positive effect on the economy. The absence of such a vision might be the important missing coastal link from The Grand Harbour area up to St Julian’s area. Each site is particular and unique and hence necessitates a vision. These would also create numerous jobs and niche markets. This would generate a lot of business.
4. Yes definitely. The costings of all projects are absolutely very important. These have to be established and the estimates of costings will be made according to the particular projects. However financial costings are just one part of the feasibility study.
5. Various factors are involved. The nature of the costs varies according to the particular projects. The main factors are those related to technical issues and administrative issues, then there are the financing issues.
6. In my position at this particular moment this is difficult to state. One have to work out in quite some detail. The past experience of similar projects would give us some indications. |