The Maltese Government, in conjunction with Dubai Holding subsidiaries Tecom Investments and SAMA Dubai, will be setting up a fully fledged Information and Communication Technology (ICT) and Media Park on a 358,000 sq. m. site formerly occupied by the Ricasoli Industrial Park and based on models developed by Tecom Investments in Dubai. Tecom Investments, a leading service telecommunications network operator and service provider is the originator, developer and operator of Dubai Internet City, Dubai Media City and Knowledge Village, home to over 15,000 employees. The project is expected to create 5,600 new jobs over an eight year period, around sixty five per cent of which being knowledge-based jobs. The Maltese Government, whilst retaining an equity, has invested the land on which the project is to be developed whereas Tecom Investments are expected to invest US$300 million in the project.

SmartCity@Malta will be the first ICT and Media City to be developed in the European Union and will therefore constitute an ideal European outpost for ICT and Media companies wishing to establish a presence in Europe. Once completed, the project will feature a state-of-the-art ICT and Media Business Park, tourism accommodation, entertainment areas, shops and a freely accessible recreational area.

The ‘SmartCity’ concept consists in the development of a global network of self-sustained townships to facilitate the creation of knowledge based industries. Such cities are expected to have a significant impact on the economies in which they are established, creating vibrant knowledge economy communities anchored by leading global, regional and local names in the industry to facilitate knowledge transfer and job creation.

Whereas TECOM’s specialization is the creation and management of knowledge based industry clusters, SAMA Dubai’s strength is international real estate development, established with the aim of creating a world class portofolio of partners, properties and investments which distinguish it as a market leader.

Tecom Investments has further pledged its participation to assist the further development of ICT education in Malta.

August 2007