The developers' lobby has demanded full transparency over a project to regenerate the derelict White Rocks complex in Bahar ic-Caghaq, insisting the sale of public land should be based on current market prices.

More than two years ago the White Rocks Development Consortium began negotiations with the government on developing the area into a mixed-use site that included a seven-star hotel. 

But no announcements were ever made amid disagreement over the value of the 450,000 square metres of public land.  

In a statement, the Malta Developers’ Association (MDA) said that although it did not know details of talks, it expected full transparency and that negotiations conform to public procurement rules. 

The MDA said that, as promised by the government, led by Prime Minister Robert Abela, any potential agreement should be primarily based on the current market value of the land in question.

It said that controversies over other massive property development projects on public land, under different administrations, should not be repeated.

“The MDA warns that it will not tolerate fiddling on market value, lack of transparency or any sort of state aid to turn public land into private speculative projects. This is not in the interest of the economy and the common good, and the public has a right to obtain value for money for public land,” the association said.

The statement was issued following stories in The Malta Independent last week which quoted hotelier Tony Zahra, on behalf of the Consortium, as saying that they remain "fully committed" to the proposal.