Last Updated on Thursday, 9 November, 2023 at 9:22 am by Andre Camilleri
Marsamxett Properties Ltd, a wholly owned subsidiary of Hili Ventures Ltd, has acquired a further 18.81% stake in Tigné Mall plc taking its total holdings in the company to 31.63%. This investment has a current market value of over €16 million.
Through its 75% stake in Hili Properties plc, the group is a strategic investor in commercial real estate, holding and managing an extensive portfolio of assets totalling €236 million in key locations in Malta, Romania and the Baltics. The assets include McDonald’s restaurants, grocery-anchored retail complexes, dedicated business blocks, an industrial plant and a hospital.
The Point Shopping Mall, owned and managed by Tigné Mall plc, has positioned itself as a prime shopping destination for both locals and tourists. Its strategic location, tenant mix and financial performance show the business is well-poised to grow and capture new opportunities.
This investment is the first retail complex in the group’s Malta portfolio, underlining the group’s commitment to maximizing commercial and value potential of its assets, while instilling confidence in its homebase.