Silver Horse Phase 2
Following the success of Phase 1 of the Silver Horse Development where VBL Group revitalised a block of nine F&B units delivered in shell format and subsequently leased to independent operators, playing a key role in the regeneration of the surrounding neighbourhood the Group secured full development permit approval in late 2019 for Phase 2 of this landmark site.
Originally envisioned as a mixed-use scheme combining residential units operated under VBL’s own hospitality platform (Vallettastay.com via VREM Ltd) with modern workspace, Phase 2 sought to introduce approximately 1,500 sqm of office space, positioning it as one of the largest privately owned workspace buildings within Valletta’s core.
As market opportunities evolved, VBL successfully negotiated a long-term lease with internationally recognised hotel operator Ruby Hotels, bringing a new dimension to the Silver Horse project. Under this long-term agreement, backed by full development permit approval, the building has now been repurposed into a premium hotel destination, marking a significant milestone for both the Group and Valletta’s hospitality offering.
The transformation will deliver an 88-room Ruby Hotel on historic Strait Street, blending the brand’s acclaimed Lean Luxury philosophy with the rich architectural character of the existing structures. The hotel will feature thoughtfully designed guest rooms, vibrant public spaces and a rooftop terrace, while preserving and enhancing the heritage fabric of the site.
Secured under a 30-year lease, this project represents the first internationally branded hotel of its kind in Valletta’s city centre and is scheduled for completion in late 2026. With structural works now substantially complete and the project advancing into its finishing phase, the Ruby Hotel is poised to elevate Valletta’s accommodation landscape and generate significant recurring value for the area.
