Debenhams Lines Up At Miller’s Maltese Mall

Miller Developments, one of the UK’s leading large scale commercial property development companies, and Midi plc have secured the first letting at The Point shopping centre in Malta. Debenhams has become the first retailer to sign up to the 173,660 sq ft (16,133 sq m) shopping centre in Sliema, taking a 27,987 sq ft (2,600 sq m) store on a 15 year lease.

The department store, which is Malta’s first Debenhams, will be operated under a franchise agreement by the United Group, a well respected Maltese retailing group. Debenhams is a leading department stores group with a strong presence in key product categories, such as womenwear, menswear, home ware and health and beauty. It has a total of 132 department stores in the UK and Republic of Ireland, and a further seven Desire by Debenhams stores, which are a new small store concept featuring a mix of women’s fashion, accessories, lingerie and cosmetics. Debenhams has a further 30 international franchise stores in different countries.

The Point shopping centre, as it will be known, will trade over three levels and will, in addition to the department store, will offer a 20,022 sq ft (1,860 sq m) supermarket, a 45,210 sq ft (4,200 sq m) cinema complex and around 50 individual retailing units ranging in size from 753 sq ft (70 sq m) to 6,459 sq ft (600 sq m).

The centre forms an integral part of a prestigious mixed-use scheme known as Tigne Point, which is one of the most ambitious development projects ever undertaken in Malta. In addition to the shopping centre, Tigne Point will comprise offices, hotels, tourist and leisure facilities together with restaurants and bars and around 500 luxury apartments.

Excavation work has recently finished and the main construction work is due to begin in April 2007, with the opening planned for Spring 2009.

Phil Miller, managing director of Miller Developments, comments: “This deal is clearly a significant milestone for us and represents a ringing endorsement of the scheme. We look forward to welcoming new occupiers to The Point, further enhancing its status as Malta’s premier shopping destination.”

[” The successful conclusions of our negotiations with United Group, the franchisees for the Debenhams anchor store was reached at a very opportune moment as major civil works are about to get underway” explained Ben Muscat , MIDI Plc CEO. He added “Debenhams is a known brand in Malta that will no doubt be followed by other prestigious international brands as tenants at The Point. “]

Simon Gatt Baldacchino, Director of United Group, said: “Debenhams has awarded its franchise for Malta to United Department Stores Limited, a subsidiary of United Group. This subsidiary is one of the pillars of our Group’s diversification strategy. We believe that The Point is the best and most ideal venue to launch Debenhams in Malta.”

Colliers CRE has been appointed as letting agents on the scheme.

For more information, please contact:

Simon Stretch / Ian Purvis, Porterfield PR
Tel: 020 7647 4420

Notes for editors:

Malta is rapidly emerging as a popular business destination on the back of a vast pool of multi-lingual graduates, a modern telecommunications structure, air connections with all the major European cities and North Africa, similar time zones, a modern financial legislative framework, as well as a low cost environment for setting up and operating on the Island.

The Midi Consortium, formed in 1992, consists of some of Malta’s most well established business groups and is led by one of the island’s most respected businessmen, Mr. Albert Mizzi.

Designers at Debenhams include Nigel Cabourn, Jasper Conran, Theo Fennell, Pearce Fionda, Frost French, Betty Jackson, Ben de Lisi, Julien Macdonald, John Richmond, John Rocha and Matthew Williamson. Debenhams pls was listed on the London Stock Exchange in May 2006.

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