Shoreline Mall plc, the company behind The Shoreline Mall development in Kalkara, registered a profit before tax of €3.1 million in the final six months of 2023.

The results were announced in the company’s interim financial statements for the six months ended 31st December 2023, published on Monday.

The Shoreline Mall, set to open imminently, is a new mall located in Smart City, Kalkara, and will contain a number of retail outlets and catering establishments, including Pull&Bear, Stradivarius, Bershka, Franks, Aldo, Kiko Milano, Calliope, Junior’s, Homemate, and Starbucks, among others. Many of these outlets will be flagship stores. It will also feature Gravity, an entertainment spot that includes a trampoline park, arcade games, rock-climbing activities, and a free-fall activity.

Senior people close to the project had stated that the mall’s formal grand opening is set for 8th March 2024.

In the financial results, the company revealed that since the mall is yet to open, its pre-tax profit is largely attributable to the sale of its residential carpark spaces during the period, prompting net proceeds of €3.3 million. Revenue also included €4,000 in other income.

Administrative expenses for the reporting period amounted to €199,781.

Total assets as at the end of 2023 stood at €73.3 million, marginally lower than the €73.8 million reported in the six months prior.

The company confirmed that the construction of the shopping mall and carpark has been completed, with final finishing works ongoing as at the time of the interim report’s publication. Shoreline Mall has also entered into multiple lease agreements with tenants.

Additionally, the development also features a residential component, which is already constructed, and finishing works are expected to be completed by end of financial year 2024. This part of the development will house 331 apartments, six villas and seven blocks.