Just two bids were submitted for the privatisation and development of the new luxury village at the White Rocks.
Economic Services Minister Chris Cardona told Nationalist MP Claudio Grech that the privatisation process is in the process of evaluation.
Last October it was reported that 11 proposals had been submitted in the call for expressions of interest in the project.
The process was launched the previous June after the government earmarked the site for upmarket real estate development, including five-star hotels and luxury units.