The developer insists that the apartments and duplexes will offer clients “affordable luxury in a secure, car-free and clean environment, close to all that matters. They come with the added value of some of the most exciting investments and retail options so lacking in the south,” according to the press statement.

“The entire project is to be built all at once,” said Andrew Gatt, Sales and Marketing Manager at The Shoreline Residence Ltd. “The shopping mall is set to open to the public in Q1/2022, handover of the first finished units to clients is scheduled for Q3/2022. Meanwhile, the Shoreline is currently evaluating the construction tender as construction works are planned to start by the end of this year.”

In terms of environmental responsibility, Maltese company En-sure Ltd is carrying out site monitoring following international standards, using sampling protocols in accordance with approved method statements.

Block A will be composed of 18 two-and three-bedroom units with panoramas, while Block H will present a foreshore row of terraced units on three levels with private lifts that offer views on the Mediterranean Sea.

There will be approximately 370 luxury apartments, served with a two-storey, double-height shopping mall covering 25,500 square meters, with space for underground parking, overlooking the Smart City Laguna, recreation areas and other amenities. “The Shoreline is considered as one of the largest private construction projects in Malta to date,” the developer says.

As these residences enjoy a Special Designated Area Status (SDA), they can be purchased by both EU and non-EU nationals with the same acquisition rights as Maltese citizens, and without the need to obtain Acquisition of Immovable Property (AIP) permits, as the press statement sent to BM says.

Polidano Group started works on The Shoreline Residence’s multi-purpose project at Ricasoli near SmartCity Malta in mid-May. Malta-based Polidano won a tender for the complete excavation of the site of the residential and retail project.

The post The Shoreline project announces two residential blocks first appeared on The Malta Business Weekly.

“The increase in profit before tax is impressive and represents another executed milestone of our long-term strategy. As a result of this performance and continued healthy cash flow generation, for the first time, we have proposed a dividend,” said MPC Chairman and Chief Executive Officer, Deepak Padmanabhan.

“This is indeed an important milestone in any listed company’s history and more so in our case as the company also builds reserves to be able to pursue growth.” Mr Padmanabhan gave a progress update on various key projects. The completed redevelopment of its site at Floriana has now been fully leased while significant progress has also been registered at the site in Zejtun. Planning for the redevelopment of MPC’s site in Marsa is also well underway,” the chairman CEO added.

Chief Financial Officer Daniela Zammit went through the key highlights which led to MPC’s positive results, including the level of rental income reached, the decrease in administrative expenses and the sale of properties at a price higher than their book value. She added that the group has been able to retain its strong financial position with a low gearing ratio and an adequate interest cover, while giving a sufficient return on equity when benchmarked against the best performing local companies, according to the press statement.

Mr Padmanabhan described ongoing negotiations with Dubai Holding for the acquisition of a majority shareholding in SmartCity Malta as a potentially “game-changing” opportunity. The chairman CEO added that the “progress on this deal continues to be made with the due diligence completed and negotiations on the final transaction ongoing.”

The post MPC doubles profits in 2018, approves dividend first appeared on The Malta Business Weekly.

The north harbour area, where the average price of a property is twice the national average, was accounted for 30% of total market turnover and 40% of its growth in 2018, according to a study Mr Cordina presented.

The highest rates of price growth and the highest relative growth in turnover were registered in the more affordable central areas.

HSBC Bank Malta says it keeps its commitment to offering customers support in purchasing homes through a range loan option, according to the press release.

Mr Cordina emphasised that investment in quality is key to market resilience and that orderly evolution of the market is essential for its sustained growth.

The event was also addressed by Daniel Robinson, Head of Retail Banking and Wealth Management for HSBC in Malta.

Mr Robinson spoke on the compelling fixed and variable rate propositions that HSBC Bank has launched in recent months and the other measures it has taken to train and develop its staff and welcomed the recent publication of the Central Bank of Malta directive on mortgage lending.

He said HSBC is in favour of the directive as it will give lenders minimum specific guidelines for responsible lending, and by doing so, it will protect the future sustainability of the industry.

The post Economic fundamentals support residential real estate turnover, says HSBC study first appeared on The Malta Business Weekly.

The Shoreline received the definitive approval of its development application by the Planning Authority (PA) in March. What the developers describe as a “landmark project” on the east coast of Malta should see excavation works winding up by end-October 2019.

The first phase is divided into two parts; the preparatory work for excavations and the direct digging for construction purposes. The earmarked site will be excavated down to five levels to accommodate one double-height retail area, and three levels of garage spaces for over 1,000 cars.

Residential and retail

After the excavation finishes the main contractor will be selected for the construction of The Shoreline — 370 luxury apartments, a two-storey, double-height shopping mall covering 25,500 sqm with underground parking and recreational areas overlooking the Smart City Laguna.

“Our vision is to create a great place to establish roots, raise a family, and appreciate the great views — in one phrase: to enjoy the superb location close to all that matters. When one considers all tangible and intangible aspects of these properties, one realises that The Shoreline is truly offering affordable luxury in a safe, car-free and unpolluted environment,” said Andrew Gatt, Sales and Marketing Manager of The Shoreline Residence Ltd.

The Shoreline appointed En-Sure as environmental site monitors. En-sure carries out such site monitoring in accordance with international standards, using sampling protocols in accordance with approved method statements, the press statement says.

“We recognize the importance of environmental responsibility, which includes on-going environmental monitoring according to a comprehensive suite of parameters that comprise air quality, noise and vibration, among others. The good news is that some 90% of the 230,000 cubic meters of rock to be excavated will be used again as recycled material,” said Ben Muscat, Chairman of The Shoreline Residence Ltd.

The post Polidano starts excavation on Malta’s Shoreline Residence project first appeared on The Malta Business Weekly.

The group is planning to invest in the construction of offices and hotels, teaming up with local market players, “after the due diligence of various assets is completed,” the press statement says.

“We expect two new projects in Ukraine this year and are entering the fifth market outside of Germany, Poland, Spain, and Malta. This will contribute to the further growth and development of the country,” said Sven von der Heyden, the head of the group.

Von der Heyden Group has been present in the European real estate market since 1989 in four areas: investment in real estate, development, the international hotel group IBB Hotel Collection, as well as alternative investments.


The post Developer Von der Heyden Group eyes Ukrainian market first appeared on The Malta Business Weekly.