The announcement was made during a press conference held at the offices of the Building and Construction Authority (BCA) by Minister for Justice and Reform of the Construction Sector Jonathan Attard, alongside BCA Chief Executive Officer Roderick Bonnici.

Under the scheme, individuals purchasing properties that meet sustainability standards will be eligible for grants ranging from €4,500 to €9,000, distributed over a three-year period. The initiative forms part of a broader set of government measures aimed at increasing home ownership while advancing environmental goals outlined in Malta’s Vision 2050 strategy.

Attard explained that the scheme aligns with national sustainability targets by incentivising investment in buildings that consume less energy. “Through this scheme, we are creating a direct incentive for citizens to invest in properties that adopt higher sustainability standards,” he said, noting that beneficiaries would enjoy lower energy bills and reduced environmental impact.

The scheme applies to properties purchased from 1 October 2025 and will remain open for applications until 30 September 2026. Buyers of “Net Zero” properties – homes that generate more energy than they consume – will receive €3,000 annually for three years, totalling €9,000. Meanwhile, buyers of properties that exceed European energy efficiency standards by at least 20% will receive €1,500 annually, amounting to €4,500 over the same period.

During the first year of the scheme, around 200 applications were submitted, with approximately €200,000 already disbursed as initial payments.

Attard also referenced other initiatives launched by the authority, including the “Irrinova Darek” scheme, which supports home renovations and was reintroduced earlier this year.

Bonnici outlined the application requirements, stating that applicants must submit the final property purchase contract along with the building’s Energy Performance Certificate based on its completed state, not design projections. He added that only one application per property and per individual will be accepted.

Bonnici highlighted the authority’s ongoing efforts to promote sustainable construction practices, noting that a dedicated unit has been established in recent years to ensure buildings meet European standards.

Also present at the press conference were BCA Chairman Simon Saliba and Permanent Secretary Johan Galea.

Further information about the scheme can be obtained through the authority’s helpline at 138.

The post Government re-launches sustainable property scheme with grants up to €9,000 first appeared on The Malta Business Weekly.

IHI, which currently owns 100% of the asset, will retain a 28 oer cent interest in the JV following completion and its subsidiary Corinthia Hotels Limited will continue to manage and operate the asset.

Corinthia Hotel Lisbon, the biggest five-star hotel in the city, just underwent a complete refurbishment to upgrade its 517 keys, 3,000 sqm award-winning spa, three restaurants to equally cater for business, leisure and MICE travellers.

The post Orion and Corinthia form joint venture to buy Corinthia Hotel Lisbon first appeared on The Malta Business Weekly.

This offer, for the sum of €2.5 million, is made in direct response to MIDI’s recent public announcement. It aligns with the clear national consensus articulated by the Prime Minister, who judiciously stated that turning the historic fort into a hotel would be “obscene”. Therefore, it is understood that the Government will exercise its right of veto to prevent this eventuality, Din l-Art Ħelwa said Tuesday.

MIDI plc announced that on 16 December it entered into a promise of sale agreement with J. Portelli Projects Ltd to sell the lease for Fort Tigne. The property forms part of the land granted by the Government of Malta to MIDI by title of temporary emphyteusis for 99 years in virtue of a public deed of the 15 June 2000.

The announcement sparked public outrage with Din l-Art Helwa immedialy saying it was prepared to match the terms of the deal. The Prime Minister is also on record stating that the Government is open to ideas for the repurposing of the fort. “Our offer is straightforward and serious,” Patrick Calleja, Executive President of Din l-Art Ħelwa, said on Tuesday.

“We are prepared to match the commercial agreement presently on the table but with one fundamental difference: our plan ensures Fort Tigné is preserved, restored and opened to the public. We are providing MIDI with a prudent path to fulfil its financial objective while resolving a matter of significant public concern. The nation regains a key historic asset and the controversy surrounding the site’s future is finally concluded. As suggested by the Prime Minister, Din l-Art Ħelwa is ready to collaborate with the Government and to present a conceptual proposal for Fort Tigné.”

Din l-Art Ħelwa’s proposal also guarantees that this Grade 1 scheduled fort, which forms part of Malta’s UNESCO Tentative List, will be rehabilitated exclusively for cultural, educational and community purposes for this and future generations. Din l-Art Ħelwa has called on MIDI to acknowledge the offer and to engage in discussions to take the matter forward.

The post Din L-Art Ħelwa makes direct offer to MIDI to secure Fort Tigné ‘for the nation’ first appeared on The Malta Business Weekly.

The MDA noted a “strong and encouraging” performance in Promise of Sale activity, saying that it confirms that the Maltese property market remains resilient.

“When comparing full year figures, the total number of promises of sale increased from 15,266 in 2024 to 16,636 in 2025, representing growth of 7%. Over the same period, the total value of promises of sale rose from €5.11 billion to almost €6 billion, an increase of €851 million or 17%.,” it said.

This level of activity clearly shows that Maltese and Gozitan families continue to view property as their preferred investment, the MDA said.

“Nearly €6 billion in promises of sales underlines continued confidence in property as a long term store of value, while also highlighting the importance of maintaining a market that is fair, balanced, and accessible to all participants.”

Commenting on these results, Michael Stivala, President of the Malta Development Association, said the figures confirm the central role the property sector continues to play in the Maltese economy. He added that the Association will keep pushing for reforms that strengthen long term industry sustainability, support responsible urban development, protect the green environment, reduce unnecessary red tape, and ensure a fair system for buyers, sellers, and investors. He also said that the Association is looking forward with confidence to a positive year ahead for the sector.

The post Over 1,000 more promise of sale agreements in 2025 when compared to 2024 – MDA first appeared on The Malta Business Weekly.

This marks the second disposal announced by MIDI this month. Earlier, the company disclosed a separate agreement for the sale of Fort Tigné to Joseph Portelli for €2.5 million.

Under the latest agreements, MIDI and T14 Investments have committed to transfer the remaining term of the temporary emphyteusis over 11 commercial units underlying the Pjazza Blocks, as well as the building known as Unit T3. The properties are held under a 99-year temporary emphyteusis that commenced on 15 June 2000, following a public deed through which the land was granted to MIDI by the Government of Malta. As a result, the properties remain subject to their respective share of the annual ground rent payable to the government and to other conditions contained in the original emphyteutical deed.

The €10.2 million consideration is payable in accordance with the terms set out in the agreements, with the final balance due upon the signing of the final deed of sale. The transaction is subject to a number of conditions precedent, and failure to satisfy these conditions will result in the lapse of the agreements without obligation on either party. The promise of sale will remain valid until 30 April 2026.

MIDI stated that all the properties are currently leased to third-party tenants, with the exception of one unit used as the company’s sales office. The properties generate total annual rental income of approximately €657,000, which will cease once the final deed of sale is concluded and the assets are removed from the group’s portfolio.

The company also noted that the properties are hypothecated in favour of CSB Trustees & Fiduciaries Limited, acting as security trustee for MIDI’s €50 million bond, which matures in July 2026. MIDI said it intends to apply the net proceeds from the sale towards the redemption of this bond.

Notary Roderick Caruana has been appointed to register the promise of sale agreements with the Commissioner for Revenue. MIDI added that certain Capital Markets Rules do not apply to the transaction, which has been classified as a Class 1 transaction under the applicable regulations.

The post MIDI signs promise of sale for Tigné Point assets worth €10.2 million first appeared on The Malta Business Weekly.

The Property forms part of the land granted by the Government of Malta to MIDI by title of temporary emphyteusis for 99 years in virtue of a public deed of the 15 June 2000.

The deal includes Fort Tigne’, located at Tigne’ Point, Sliema and includes the surrounding grounds and a divided portion of land at basement level also at Tigne Point, referred to as an unloading bay, the announcement reads.

MIDI said that the consideration for the sale and acquisition of the Property is €2,500,000, payable in accordance with the terms of the agreement, with the final payment to be made on the final deed of sale.

“The Agreement is subject to a number of conditions precedent which need to be satisfied prior to the execution of a final deed of sale and transfer of the Property. In the event that these conditions are not satisfied, the Agreement will lapse and neither party will be bound to execute the final deed of sale.”

The Agreement shall remain valid and effective up to 30th April 2026.

MIDI said that no business is currently being carried on by, or through the use of the property.

“The property is currently not occupied by a tenant and hence no annual rental income is being received. Upon publication of the final deed of sale, the property will no longer from part of the company’s property portfolio and therefore no rental income will be received by the company in respect thereof. The company intends to apply the sale proceeds towards the redemption of the Company’s €50 million bond which is due in July 2026.”

The post MIDI to sell Fort Tigne lease to Joseph Portelli first appeared on The Malta Business Weekly.

The announcement was made at Villa Bighi by the Minister for Culture, Lands and Local Government, Owen Bonnici on Tuesday.

The project was made possible after people who lived there were evicted last month. A family lived in the fort for decades.

In his address, Minister Owen Bonnici stated that “Fort Binġemma holds great historical and cultural value, and through this transformation it will also become a symbol of how our heritage can be turned into a driver for scientific and educational growth. With this step, we are showing how Malta can place its historical identity as the foundation for a future of innovation and learning.”

In the absence of the Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti, the Chief Executive of Xjenza Malta, Silvio Scerri, remarked that, “This project represents a clear choice that our heritage should serve the public good, rather than remain idle or forgotten. Through Space Park Malta, we are creating a space where science and innovation meet education and families, thereby building a future founded on knowledge and opportunity. This is part of Malta Vision 2050, which looks towards a more resilient and competitive country in emerging sectors.”

Space Park Malta will be developed with full respect for the historical character of the fort, while offering modern infrastructure such as the Earth Observation Centre, which will use satellite data for maritime security, environmental monitoring, and land use. The park will also include a Research Observatory as well as a public observatory, giving students and families access to the skies through guided learning, as well as Esplora Space, which will form the heart of the park with exhibitions, school programmes, and outreach activities.

The project will also feature a public library: both digital and traditional media creation facilities, and collaborative spaces for learning and innovation. In addition, it will provide a dedicated environment for start-ups in the space sector, with the aim of nurturing a new economic ecosystem that connects entrepreneurship and science.

Sustainability will be an integral part of the design, with the use of solar energy, intelligent energy management systems, rainwater harvesting, public gardens and open spaces with indigenous planting, and lighting that preserves Malta’s night skies.

The transformation of Fort Binġemma into Space Park Malta symbolizes a national commitment to honour the past, enrich the present, and prepare for a future built on science, education, and innovation.

The post Fort Binġemma transferred to Xjenza Malta: Government launches Space Park Malta first appeared on The Malta Business Weekly.

In its paper, the NSO applies the residual method to estimate the value of land underlying dwellings in Malta from 1995 to 2024. “The residual approach is widely employed by many countries as a method for estimating the value of land underlying dwellings, primarily due to the high accessibility and availability of data derived from real estate transactions.”

The NSO said that this method offers a practical solution where direct land valuations are not separately recorded or are otherwise difficult to obtain.

“In essence, the residual approach involves determining the total market value of a property, the combined value of the land and the dwelling constructed upon it, and subsequently deducting the estimated value of the dwelling itself, based on the net capital stock of constructions, which excludes land at current prices, adjusted for depreciation and other relevant factors. The remaining value, after this deduction, is attributed to the underlying land at time.”

Dwelling prices from 2015 onwards were based on property transactions established on final deeds of sale and promise of sale agreements registered with the tax authority. Dwelling price data for the period from 1995 to 2014 were extrapolated using the Property Prices Index published by the Central Bank of Malta, which was based on advertised property prices, it said.  Published census results were used to estimate the required information on the dwelling stock.

The full explanation in terms of how the data was formulated is available on the National Statistics Office website.

The paper reads that townhouses consistently contributed the highest total dwelling value from 1995 up to 2019. “This reflects their deep-rooted presence in the Maltese housing stock, particularly in central and urban localities, and their strong demand among both local buyers and foreign investors seeking traditional or character properties. From 1995 to 2008, townhouses saw steady growth, briefly plateauing during the global financial crisis, from 2009 to 2012. Following this, values resumed an upward trend, albeit more modestly, until around 2019, when the rate of growth began to be outpaced by apartments and penthouses. This suggests that while townhouses retained high value, their relative market share began to diminish in the face of expanding apartment development and shifting demand toward more readily available housing formats.”

It reads that apartments and penthouses have shown a remarkably strong and accelerating growth, especially since 2013, overtaking townhouses in total value around 2019, reflecting a change in the composition of the dwelling stock. “The continued increase through the COVID-19 period (2020-2021) demonstrates the resilience of this sector, which benefited from sustained investment activity, housing incentives, and the evolution of the short-term rental market. By 2024, apartments and penthouses dominate with the highest total value, reflecting both high development volume and increased price per SQM.”

It also said that Maisonettes have maintained a steady upward trajectory throughout the period. While their total contribution to dwelling value is lower compared to townhouses and apartments, they have experienced consistent growth, particularly post-2014, it said. “On the other hand, villas, farmhouses, and bungalows are the smallest contributor in terms of total value throughout the period.”

The paper read that construction costs also grew steadily, rising from €3 billion to over €14 billion, largely influenced by inflation, regulatory changes, and increased building activity.

“Key ratios underscore the growing prominence of land in property value. The land-to-construction cost ratio rose from 155% to 504%, while the land-to-total value ratio peaked at 86% in 2021. Conversely, the share of construction costs in total dwelling value declined from 39% to 17%. These trends highlight land’s increasing dominance as the main driver of property value in Malta’s constrained geographical context. Despite data limitations and the need for interpolations, the residual approach provided a replicable and insightful framework for land valuation, supporting both statistical analysis and policy planning.”

“In the ESA 2010 transmission program, Member States are obliged to compile Land as part of the Balance sheets for non-financial assets for the Household and Non-Profit Institutions Serving Households. The derivation of land valuation underlying dwellings was the first step. The office will focus on the valuation of land related to agricultural holdings and other land owned by households in their function as employers and own-account workers.”

The post Total value of land increased from €4.7 billion in 1995 to €88.3 billion in 2024 – NSO first appeared on The Malta Business Weekly.

“Although The SME Chamber acknowledges the existing gap in the market present when it comes to enabling lower-middle-income families to become homeowners, the Malta Chamber of SMEs had initially raised concerns that this scheme might open room for potential abuse, inefficiencies or free market interference. To address these concerns, the SME Chamber held separate meetings with the Minister for Social and Affordable Accommodation, Rodrick Galdes, as well as with the Foundation for Affordable Housing. Following these discussions, the SME Chamber was given the necessary assurance that the governance aspect as well as market stability will be maintained through a fair and transparent mechanism, implemented to manage the scheme to minimise concerns raised.”

The Malta Chamber of SMEs said that it therefore supports the initiative and encourages the continued implementation of strict safeguards and transparency to ensure the intended households benefit fully from the scheme.

“The SME Chamber will continue holding discussions with the necessary stakeholders to ensure that the scheme remains aligned with its objectives, maintains transparency, and effectively addresses the needs of lower-middle-income families,” the chamber said.

The post Malta Chamber of SMEs backs Government-Church affordable housing scheme ‘after concerns addressed’ first appeared on The Malta Business Weekly.

Final deeds of sale

In July the number of final deeds of sale relating to residential property amounted to 1,266, an increase of 21.8% when compared to those registered in July 2024. The value of these deeds totalled €383.1 million, representing an increase of 35.1% when compared to the corresponding value recorded in July 2024.

In the month under review, 1,136 (or 89.7%) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all remaining deeds. The value of the deeds involving individual buyers (households) amounted to €277.8 million, equivalent to 72.5% of the total value.

In July the highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 374 and 236 deeds, respectively. On the other hand, the lowest numbers were registered in the Western and the Gozo and Comino districts, at 130 and 143 deeds, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (90), Birkirkara (73) and Mosta (67). The sum of agreements recorded in these localities corresponded to 18.2% of the total final deeds of sale registered during July.

During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,537. Apartments (557) and garages (330) accounted for the largest shares, at 36.2% and 21.5%, respectively.

Promise of sale agreements

In July 1,229 promise of sale agreements relating to residential property were registered, equivalent to an increase of 15.6% over the same period in 2024. Individual potential buyers (households) accounted for 1,099 (or 89.4%) of these agreements, while the rest mainly involved companies.

The largest numbers of promise of sale agreements related to residential properties were registered in the Northern Harbour district with 334 agreements, followed by the Northern district with 242 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Western and the Gozo and Comino districts, at 104 and 170 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (121), Birkirkara (69) and Sliema (59). The sum of agreements recorded in these localities corresponded to 20.3% of the total promise of sale agreements registered during July.

The post Nearly 1,300 final deeds of sale registered in July – NSO first appeared on The Malta Business Weekly.