DB Group has launched its ORA Residences project to the market, with prices starting from at least half a million euro for a one-bedroom apartment.

The launch of the project has caused a flurry of activity in the real estate sector, with agents and consultants advertising the luxury development on social media and email.

A two-bedroom apartment costs €930,000, while three-bedroom units are going for €1.12 million, as per real estate agents’ marketing material, although there is price variance between different agents.

The project has been in the works since 2015, but development only got underway in 2023 after objectors lost an eight-year battle to stop it from being built.

The edifice lies on the site of the former home of the Institute of Tourism Studies, on the border of St Julian’s and Pembroke, looking over St George’s Bay.

It is one of a series of major projects for what has been termed Malta’s “Golden Mile”.

The ORA Residences have been given Special Designated Area (SDA) status, allowing foreign investors to purchase any number of units without restriction.

The project includes two residential towers alongside a new five-star Hard Rock Hotel, and integrates elements from the historic former ITS building, which originally serves as British barracks.

The towers will be surrounded by landscaped gardens, pools, a shopping mall, a supermarket, a spa, a gym, fine dining, bars and other amenities.

It will also include 24-hour security services and almost 1,300 parking spaces.

The project is scheduled to welcome visitors in 2026.