Developer Carlo Stivala has confirmed he plans to purchase the former St Philip’s Hospital in Santa Venera and restore it into a hospital and an elderly care home.
Speaking to MaltaCEOs.mt, Mr Stivala says that while he has traditionally invested in hotels, he is seeking to expand his portfolio.
He says he views St Philip’s as a “big opportunity”, particularly in light of Malta’s demographic shift towards an aging population.
St Philip’s used to be a specialised healthcare centre that catered to medical tourists, particularly from the United Kingdom.
However, it closed in 2012 after running into financial difficulties, and it has remained abandoned ever since, with legal proceedings related to outstanding loans still under active litigation.
As reported by Newsbook, Dr Frank Portelli – the director of Golden Shepherd Ltd, which used to run St Philip’s – confirmed in court that Mr Stivala plans to purchase the former hospital.
Mr Stivala says that while it is still too early to discuss project timelines, he intends to resolve all pending legal issues by 2026.
However, he confirms he plans to keep the name ‘St Philip’s, both because of the history attached to it and because he likes the name.
WATCH: ‘Lamborghini of the Seas’ superyacht spotted in Malta
This Is It is owned by Cypriot businessman Tasos Papanastasiou.
‘There is no ceiling,’ Ann Fenech says while encouraging women to join maritime sector
'Although there are difficulties, if you’re passionate enough, go for it,' Ann Fenech says.
Moneybase launches weekly cashback scheme with rewards of up to €25 per month
Cashback is calculated on card spending each week and credited directly to the customer account every Monday.
Why businesses should stop comparing AI to humans and start focusing on results
Dr Vince Vella argues that businesses should stop viewing AI through the lens of human intelligence and instead focus on ...
