The consortium formed by SD Holdings Ltd, Seabank Hotel and Catering Ltd and Seaport Franchising Ltd has been officially recognised as the preferred bidder to develop the site currently occupied by the Institute of Tourism Studies in St George's Bay.

Projects Malta, on behalf of the government, said the bid had met the government's requirements for the transfer of the site. 

The consortium was the only one to have submitted a bid.

The government  is to build a new campus for the ITS at SmartCity. 

Seabank will design, build and operate a 'landmark development' focused on tourism and entertainment. The project is to include an internationally branded five-star hotel.

The development can also have residential units, restaurants and other commercial outlets.

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