Shoreline Mall plc, the company behind The Shoreline Mall development in Kalkara, registered a loss of €1.6 million for the financial year 2025. 

The results were announced in the company’s interim financial statements for the year ended 30th June 2025, published on Tuesday.

The Shoreline Mall is a new mall located in Smart City, Kalkara, and contains 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 are flagship stores. It features Gravity, an entertainment spot that includes a trampoline park, arcade games, rock-climbing activities, and a free-fall activity.

This was its first year of operation. The Shoreline Mall generated net rental income of €2.4 million (up from 779,419 in 2024) and operating profit for the year of €56,453 (down from €1. 8million in 2024) after taking into account depreciation and amortisation costs of €1.9 million. 

Despite the positive rental income and operating profit for the year the company registered a loss of €1.6 million after taking into account its financial costs. 

The company’s principal activity is to manage the Shoreline Mall shopping complex and to develop residential villas for resale. 

Its main business consists of: 

a. The generation of rental income from the commercial operations within the Shoreline Mall units and carpark; and 

b. The sale of immovable property within the Shoreline site, mainly consisting of residential villas. 

The residential villas have been fully constructed with only finishing works required. They are expected to be put on the market for sale within the next financial year.

Shoreline Mall plc also acknowledged the upcoming maturity of the secured bonds on August 1st 2026, and is “actively pursuing several viable funding options to meet this  obligation."

This funding including potential refinancing of this debt through a combination of financial support from related group companies, including its parent company and ultimate parent company, and through the potential rollover of the existing bond. 

The company added that discussions with financial institutions and the current bond sponsors are ongoing and management believes that sufficient funding will be secured prior to the maturity date to ensure timely repayment.

Total assets as at the end of June 2025 stood at €76 million compared to the €85 million million reported in the year prior.