International Hotel Investments plc - Development Permit of Oasis Project

On 22 February, Island Hotels Group Holdings plc confirmed that during a meeting held on 21 February the Malta Environment and Planning Authority (MEPA) approved the application that had been submitted for the project of the Oasis at Golden Sands (ex-Hal Ferh site).

The Group intends to develop the site through its affiliate, The Heavenly Collection Limited, in which its partners in Golden Sands Resort Limited also have a 50% equity interest. Island Hotels noted that it will continue to work on the financing model for the project in the coming months with a view to bringing the development to fruition when the board of directors decide that the international economic conditions are suitable to do so.