On 22 November 2001, the Government granted to VCP a temporary emphyteusis for a period of 65 years over the VCP Site expiring on 22 November 2066. VCP is a limited liability company registered in terms of the Companies Act, Cap 386 of the laws of Malta. VCP manages cruise and international ferry terminal operations and leisure facilities situated at the VCP Site. VCP has also restored the Pinto and Forni stores situated within the VCP Site.

On the 14 June 2012, the Government transferred the title of dominium directum held by it over the VCP Site to Malita Investments plc. As a result of the execution of the VCP transfer contract, Malita Investments plc is entitled to receive, with effect from 1 December 2011, all amount of ground rent and other payments which are payable under the original emphyteutical grant.

On the expiry of the 65-year grant in favour of VCP, Malita Investments plc will be vested with the freehold ownership of the VCP Site.