It was built by Marquis Emanuel Testaferrata Bonici Ghaxaq (Asciak) as a country residence.

[2] Apart from the building of the villa the property has a separate farmhouse and the terraced gardens for what it is well known, making it unique in the overdeveloped areas of Gzira[5] and Sliema.

[7] The villa had previously served as one of the few open air cinema theatres in Malta.

[3][10] The historic parts of Villa Bonici were scheduled as a Grade 2 by the Malta Environment and Planning Authority (MEPA) in 2010.

Other arches at the waterfront were demolished to build up the open air cinema.