PROPERTY ANNUAL 2019/2020 NEWSPAPER POST €5 where sold POST €5 where NEWSPAPER CONTENTS

The one thing I love most about living in Malta is…. 2

Map of the Maltese Islands 4

First things first 6

Welcome to the first edition of the Malta Property Annual 8

Supporting a buoyant property market 10

Making Malta your home 12

MALTA It’s all about the people — Helga Ellul 14 PROPERTY A lifestyle that suits us — Silvia Bonera 16 ANNUAL Fundamentals of the Maltese property market 20 Much more than opera — Joseph Calleja 22

2019/2020 Development Focus — Mercury Towers 28

Development Focus — MIDI 30

Development Focus — Pendergardens 32

Development Focus — Piazzetta Business Plaza 34

Development Focus — The Quad Business Towers 36

Development Focus — The Shoreline 38

Development Focus — Townsquare 40

Development Focus — Trident Park 42

Innovative financial regulation 46

Estate Agency Profile — Ben Estates 49

Estate Agency Profile — Dhalia 53

Estate Agency Profile — Engel & Völkers Sara Grech 57

Estate Agency Profile — RE/MAX Alliance 61

Estate Agency Profile — Zanzi Homes & Quicklets 65

Protecting our heritage 69

Healthcare services 70

Malta as an investment migration destination 72

Where technology thrives 76

Average property prices in Malta 78

1 I’ve found the I have so many The laid back Yoga on the sea I’ve always good friends but productive beach wanted around me lifestyle

Antonio D. Victor G. Andrew M. Angela F. Compliance Officer Web Developer Graphic Designer Fitness Instructor Italy Nigeria United Kingdom Germany

I can unleash Enjoying wine my creativity and nibbles in freely here

Rosita G. Lily E. Fashion Designer Event Organiser Lithuania France

A global My amazing People from community living multicultural many different The one thing in harmony friends cultures living I love most together about living Pierre L. Managing Director Sacha K. in Malta is... Sweden Content Manager Simona A. United States Architect Italy

It’s a safe place The history to raise my is everywhere family you go

Pedja M. Ingrid M. Film Producer Aviation Engineer Serbia Poland Interviewees that declined permission to use their that declined permission to Interviewees by models. represented are photo

The chill vibe Living life I have a The freedom that everyone to the full good job and to love whoever seems to have everyone is I want so nice here Marius C. Trudy K. Dragana V. Photographer Radio DJ Jenny S. Senior Accountant Kazakhstan United Kingdom Transport Co-ordinator Serbia Philippines The zo Go PIAZZETTA BUSINESS PLAZA Maltese Comi no MERCURY TOWERS ST JULIAN’S PENDERGARDENS Islands ST JULIAN’S

The smallest EU country offering the biggest property investment returns

TOWNSQUARE SLIEMA With a total resident population of under half a million people living in just 316 square kilometres, Malta is by far the smallest country in the European Union. This limited supply of land has always kept property values appreciating. M In 2018 Malta had the fastest growing economy in the EU with a GDP growth a rate of 6.6 per cent compared to the EU l average of 2.0 per cent. t MIDI a MANOEL ISLAND According to the Knight Frank Global House Price Index, the Maltese property The real estate sector contributes about market grew by a massive 17% from 12% of the Maltese gross domestic product 2017 to 2018, making it literally - the best (GDP) and in recent years investment in real performing in the world. estate has exceeded €26 billion. All property transfers are subject to a stamp duty fee amounting to a maximum House prices in Malta are still rising this EU and non-EU nationals may purchase 5% of the purchase price (excluding year with the Central Bank of Malta properties in special designated areas furniture and fittings). When purchasing registering a more modest increase of (SDAs) with the same acquisition rights the primary place of residence, 3.5% 10.83% (9.51% inflation-adjusted) up to as Maltese citizens and without the need stamp duty is charged on the first the first quarter of 2019. to obtain a permit. There is no limit on €150,000 and 5% on the amount over the number of properties that can be €150,000. Stamp duty is normally paid at The country’s economy is booming with purchased in SDAs, and once acquired, the notary in two stages — 1% on signing THE SHORELINE full employment creating more demand the owner can also lease or rent the of the preliminary agreement (konvenju) for residential rental properties from properties without any restrictions. and the remainder on the final deed. a swelling multi-national workforce. According to Eurostat figures, there are No VAT is payable on the transfer of EU citizens moving to Malta may import now over 67,000 non-Maltese people property and there are no net worth their household goods and furniture living in Malta, of which 57% are from taxes, real estate taxes or any taxes to without paying VAT or any import duties. other EU member states and 43% are be paid in Malta by international people They may also register their car here from non-EU member states. buying property here. without paying any taxes. TRIDENT PARK CENTRAL BUSINESS DISTRICT THE QUAD BUSINESS TOWERS CENTRAL BUSINESS DISTRICT 4 5 LOCATION, LOCATION, INFRASTRUCTURE LOCATION The country enjoys very well- Malta’s strategic location in the middle maintained infrastructure for of the Mediterranean between Italy and energy and water generation, North Africa, makes it the ideal base transportation and logistics, as for businesses expanding regionally. well as a hard working productive Malta’s EU membership allows and very flexible labour force. First freedom of movement throughout all of Europe and there are excellent air OPEN FOR BUSINESS and sea connections to major cities. Malta has gained an enviable reputation as a financial services hub and a CLIMATE things regional centre of ICT excellence. Malta enjoys more than 300 Several initiatives exist to incentivise days of sunshine with moderate start-ups and international trading temperatures and mild weather companies set up in Malta benefit throughout year, making it an from favourable corporate tax rates. first excellent place to live and work. ARTS & CULTURE SCALE Malta has a bustling contemporary Malta has just over 300 square arts and culture scene with influences kilometres (120 square miles) of land from British, Italian, American and other area and all towns and villages are continental European cultures. The within easy reach by road with relatively capital city of Valletta held the title of short commuting times. Its small size European Capital of Culture in 2018. also makes it an ideal location for pilot testing of products, services and HISTORY concepts before international launch. With more than 7000 years of history, including the oldest free-standing HEALTH SERVICE man-made structures in the world, Maltese nationals enjoy free healthcare Malta has so much to offer in historic that is available from district health content from past eras including the centres or the national hospital Mater Phoenicians and Arabs, the Romans Dei (MDH). Employees, including expats, and the Knights of Malta, as well as Our knowledge is are required to pay approx. 10% of the French and British periods. their income as national insurance contributions to the social security fund STABILITY & PROSPERITY in order to qualify for free healthcare. +356 2090 8100 Malta is a Republic island state, member your peace of mind of the Commonwealth of Nations and EDUCATION the European Union, that is presently State schools are free to all students undergoing unprecedented economic and can be found in all the main growth and development in various towns or villages in Malta and . sectors. The country often ranks very Transport to and from school is also highly in quality of life surveys. free of charge, as are books and other school materials. Parents need to buy their children’s school uniform. Private +356 2090 8100 Aragon House Business Centre tuition is available for people of all ages. [email protected] Dragonara Road, St Julian’s STJ 3140, Malta www.timberland-malta.com

6 Welcome to the first edition of the Malta Property Annual

roperty Malta is a public- sixty people to Cityscape in Dubai, United private partnership set Arab Emirates. This included the then up in 2017 between the President of Malta, H.E. Marie Louise Government of Malta and the Coleiro Preca and several high-level PMalta Developers Association with the meetings were held, including with main aim of promoting Malta’s lifestyle Sheikh Hamdan bin Mohammed Al identity and to position the country as Maktoum, the Crown Prince of Dubai, who a leading destination of choice with visited our stand with Her Excellency. everyone interested in purchasing property in the Mediterranean. This October we are heading to Expo Real in Munich with a 120sqm Pavilion The Foundation’s work is managed presenting no less than ten Maltese by a board of administrators representing participants. This is the largest B2B the partners, and brings together event in Europe and here we will also be property developers, estate agents, launching this new magazine platform that property owners and related service you are reading now. The Malta Property providers to promote residential and Annual is an exciting new development commercial properties with potential for us as we are laying the foundation SANDRO CHETCUTI buyers around the world. The board to create the definitive guide to the CHAIRMAN OF PROPERTY meets very regularly and our strategy Maltese islands for international people MALTA FOUNDATION for an effective online presence and interested in investing in our beloved physical presence at leading property country. It is early days yet, but we are shows worldwide, centres on the very happy with what we have managed implementation of a marketing plan that to achieve in the past few months since is based on national and international launching this project, and look forward research. It is this research that has to more success with it in the future. Property Malta Foundation helped us reliably identify our key may be contacted by email on markets, strengths and opportunities and I would like to take this opportunity [email protected] to steer our activities in the right direction. to thank our board of administrators for or by postal mail on: their dedication and support, our Minister We have been running very effective for Transport, Infrastructure and Capital Property Malta Foundation online advertising campaigns particularly Projects, Hon. Dr Ian Borg and his staff, c/o MDA, Triq l-Orsolini, in the UK market, giving us valuable and Parliamentary Secretary for Planning Gwardamangia, Pietà insight that we are now planning to adopt and the Property Market Hon. Mr Chris PTA1227, Malta for other campaigns in other target Agius and his staff. It is the collaborative markets. In 2017, we set up our very teamwork we have managed to establish Tel: +356 2033 4897 first Malta Pavilion at the International with the pro-active Government of Malta

For more information please visit: Emigration & Luxury Property Expo in that is putting Malta on the international www.propertymalta.org Cannes, France and this yielded very property map, and the massive growth of encouraging results for our participating the real estate and property development partners. So much so that in 2018 we industry in Malta in the past few years took a large trade delegation of some is the result of all this work.

8 9 Supporting a bouyant property market

t does not take much to realise strong demand in the said period. Fast that the property market sector in forward to the current scenario, it would Malta is still very active. The surge appear to the Central Bank that the rolling in the number of permits issued for coefficient has not been statistically Iresidential units by the Planning Authority significant at conventional levels and this, has been going up since 2013. According despite, current price trends (also having to official data supplied by the Authority, regard to household income, interest the net increase in units reached almost rates and credit). An explanation of this is 10,000 in 2017 (compared to just over that the period we are living today is not 2,000 in 2003). Nevertheless, (and this, tantamount to a pre crisis housing boom.

Ta’ Xbiex Marina. Photo by Alex Turnbull. by Alex Marina. Photo Xbiex Ta’ based on official PA data) the housing stock only accelerated after 2015. To This is not to say that the property give an idea, the estimated housing market should go unchecked. If anything, stock stood at around 250,000 units we have a duty to, if not improve, in 2018, doubling in size since 1985. reinforce what we have. It is against this background that, in the coming Of course, one has to keep in weeks, Government will be launching a HON CHRIS AGIUS MP mind that construction activity does new law to streamline persons acting not react instantly to an increase in as intermediaries in the process of PARLIAMENTARY demand. This implies that the activity negotiating and arranging transactions SECRETARY FOR we are witnessing today is a result of involving the acquiring or disposing PLANNING AND THE the circumstances of the past years. of leasing of land. Essentially, this law PROPERTY MARKET shall entail the provision of a regulatory Another interesting analysis, reported framework allowing for the licensing of recently by the Central Bank, shows that real estate agents, branch managers the coefficient on per capita housing and property consultants working for stock in the house price equation real estate agents as well as property turned positive in the early phase of the brokers. In other words, intermediaries housing boom of the mid 2000 but the would need to further their professional coefficient returned negative following skills, enhance their knowledge and the correction in the late 2000s. The have a license to operate. This is our interpretation of this is that there had next step which will certainly enhance been speculation and anticipation of the dynamics of the market.

11 MAKING Malta YOUR HOME

INTERNATIONAL EXPATRIATES ARE VERY WELCOME HERE, AND MORE THAN 60,000 INDIVIDUALS HAVE ALREADY MADE MALTA THEIR HOME.

The benefits of Maltese citizenship for global residents include: • A stable and safe country with a superb year-round climate • Ideal location with excellent connections to North African and European continents • English is a national language together with Maltese language • Visa free access and freedom of movement to the EU and Schengen area • Superb international business networking possibilities • Many support and grant systems for business investors in Malta • Foreign-sourced income not repatriated to Malta is not taxed • Foreign-sourced capital-gains not taxed, even if repatriated to Malta • Non-domiciled citizens only pay tax on income received in the country • Excellent health care infrastructure and geriatric support • Excellent education system with public and private multicultural options

There is no property tax, wealth tax or inheritance taxes to be paid in Malta and foreign nationals can become citizens of Malta through five residency programmes established specifically for this purpose.

13 easy for her to integrate, as it was a similar As we sit by the rooftop pool our she has always been amazed by the Malta’s style of work to what she was used to conversation takes many angles and we lovely painters and musicians. ‘There is back in Germany. She maintains ‘There talk about facing challenges, defying much more showcased nowadays than in It’s about the was and I believe there still is a sense perceptions, upholding values, and the past, the art and culture movements of honour in doing business in Malta.’ having high hopes. She firmly believes are more established and the Maltese the younger generations would benefit are becoming prouder of local talent.’ Being a small island carries its to listen and learn from those who have peculiarities, Helga quickly learnt that in trodden similar paths before them, Helga truly enjoys the Mediterranean Malta the lines between business and there are lessons that can be learnt social life, but above all she likes the home life are blurred, whereas in Germany from those with experience. Thus she mentality, the values, and the openness people or any other large country you can be imparts her advice on being successful of the people. ‘You get to be known and private about your personal life, here you in business and life by acting as make friends easily — it’s a welcoming have to be more involved emotionally at consultant and sitting on certain boards community and this is what I love. work. News travels fast on an island covering subjects close to her heart. Nowadays there is a lot going on in Malta and people are interested in other especially in summer, all these activities are easily found on social media, there is more of a forum now. You can become a member of societies, NGO’s etc. such as Din L-Art ‘There was and I believe there Ħelwa (about preserving the history of the island), there are plenty of different options still is a sense of honour in you just have to see which events interest Words by Iz Collins Photography by Jean Claude Vancell you. Go out mingle make sure you get to doing business in Malta.’ mingle with the Maltese, it’s easy they will welcome you. I find if you come here and people’s lives. By integrating in Maltese Her daily inspiration comes from the stick with your fellow countrymen only, you society people get to know you and colours of our surroundings, the glistening never become part of the island unless you SITTING BY HELGA ELLUL’S ROOFTOP POOL ON A HOT SATURDAY MORNING OVER COFFEE, I AM about you. Helga sees this predominantly yellows and soft blues, she expresses how make that effort to be part of Malta.’ KEEN TO GAIN SOME INSIGHT ABOUT HER 40+ YEARS OF LIVING IN MALTA. as a positive aspect but it could also be perceived as a little bit negative elga grew up in the Bavaria own and look after me. It was a great more opportunities. Malta’s young are because personal privacy is diminished. region in Germany, she insight to Maltese hospitality.’ my biggest hope and joy. The young are recalls, ‘The Malta I bringing about a wave of change, they Playmobil became Malta’s leading came to in 1974 is totally Naturally as a young single woman want life work balance, they want more manufacturing employer with a staff Hunrecognizable now, I was a young girl she was looking to meet other like- ethical behavior, they want families again, of 1,200 at its peak, making it one of in my early 20’s when I came to Malta minded young people. She explains, children… and a good quality of life.’ the largest private companies in Malta. on business expecting to spend one ‘It was a different era and I wasn’t On Playmobil’s success Helga says, year here enjoying island life, BUT the type to go out alone to bars etc. Helga has borne witness to decades of ‘The people were always the most here I still am, over 40 years later.’ so I had to pause and think, sport! I change on the island she calls her home, important aspect to me, the company joined the Marsa Sports Club and was there are many more foreigners working is simply its people. I believe that with Helga was employed by the soon introduced to my now husband, here now. She recalls how in her early days the right people at the right time you German toy manufacturer Horst who was a superb tennis player.’ here businessmen used to come to the can create the right formula. Our story Brandstätter who had set up a small factory and request a meeting, she would is testament to this, an amazing clever outfit in Malta, it was a time when Helga’s job was to run the turn up in her pigtails and casual wear, product designer came up with the Germany boasted full employment administration and manage the factory and often they would state, ‘No I want to idea of adding the human element into making it necessary to branch to which was transitioning from a typical meet with the big German woman.’ She the toys, the Playmobil figures. At the other countries for manufacture. metal toy manufacturer to the creator of adds that she found the Maltese were same time we had just hired someone the innovative branded toy Playmobil. more conservative and old-fashioned on the team who came from a branding ‘When I came to the island I knew than had she expected, society was very background. Prior to having this member a handful of the Maltese employees ‘It was the 70’s and the beginning much still under the British influence with on the team we had no idea regarding from their training time back in of Playmobil in Malta, we were really no formal events such as dinner dances, brands, we were a manufacturer and sold Germany, they extended kind invitations more than a bunch of youngsters with a hence the approach was all very correct on numbers. Our original Playmobil toys to their family homes, where their good team spirit. Nowadays Malta has a and orderly. This formality infiltrated the were very simple human-like figures, but This penthouse apartment which is the home of Joe and Helga Ellul is situated in a central part of Malta with urban, country and sea views. The apartment resonates with the owners’ personalities and is full of mamma’s used to adopt me as their lot more young companies and there are business world as well, making it very what a hit they were with the children!’ beautiful and well placed pieces of art and curiosities.

14 15 Silvia takes pride in her immediate surroundings as she loves simple A lifestyle but impactful design. that suits us

TAKING THE ELEVATOR IN ilvia is a woman who sees you buy them, the finishings can be ONE OF THE NEWLY BUILT beauty in symmetry and has an as minimal or elaborate as you wish. TOWERS, I AM RELIEVED expressive sense of style, well TO ESCAPE THE SLIEMA planned furniture and decorative Silvia’s life in Malta is scheduled Spieces complement each other. As a around her family’s lifestyle, she CITY HUSTLE AND BUSTLE woman who obviously takes pride in her comments ‘that with working parents TO BE GREETED WARMLY immediate surroundings, she loves simple and two busy teenage chidren, an BY SILVIA BONERA INTO but impactful design and has nurtured her organised life facilitates more time THE CALMNESS OF THIS design flair and love for colour into this for socialising and fun activities.’ The living area is airy but intimate, she PREDOMINANTLY WHITE orderly and compact apartment in one of shares her experience and ideas behind the ‘Being here makes us feel like APARTMENT. Malta’s high rise urban developments. Making the choice to buy in a new interior design works, ‘when we bought it I development was an easy one for the decided to create a separation between the we live with extended family as Words by Iz Collins Photography by Jean Claude Vancell The family initially moved to Malta family, she explains. ‘We knew it had living and sleeping space. It was both for from Italy in 2013 and decided to invest to be a modern new apartment as our practical reasons to create more storage there are so many other expats.’ in a home here. They bought the place son began suffering asthma and so space but also because I like this style of in 2016 and after completion of the the old limestone walled homes are wooden dividers. I designed a number of interiors they moved into the impeccably no good for this ailment. This building furniture items and got a Sicilian carpenter Malta offers a lot to do outdoors in Silvia is also keen to explore designed apartment in October 2016. is very well-insulated even without to work on them, sourced a metal worker the cooler hours, the apartment complex the different parts of Malta, ‘There The attraction of these apartments is switching on the air conditioning for the steel items and chose the fabric is a large development which gives are lots of beautiful places one can that you can define them to suit your system, it is never too hot or too cold to match across all the soft furnishings. her an international community within discover in Malta — we sometimes go tastes, pretty much an empty box when giving us the best living conditions.’ easy access, ‘I love living in this area to the Cliffs, Gozo, or the South Amongst what was available we liked as it’s so lively…being here makes us to get a different cultural vibe. this place because of the services, the feel like we live with extended family as parking, the recreational area such as the there are so many other expats. Tigne On occasions we take the ferry to pool, also because of the 24/7 security, Piazza is very convenient for coffee Valletta across the water from the Sliema. because I work full-time and therefore I feel or wine rendezvous. Another of my I love going to Valletta — I appreciate safer with the children at home a few hours favorite haunts is a local Pastry Shop, and fall in love with every single detail alone after school. Another plus point is we really like it there — it’s my go-to in Valletta, it’s continually evolving. the fact that our friends are close by.’ place. Most people from the complex also use the community pool, its well Silvia tells me how she has recently Silvia exudes the sense of well-being equipped with all the mod cons you changed her job, ‘I am the only non- which I pinpoint to her ability to recognise need for your comfort, making this Maltese there. This opened a new scenario that she needs an orderly space and a good place to grow your network for me, previously this was different well planned easy living to be happy. As of friends who live in the complex’. and I was like living in a parallel world. the last of the day’s sun gently touches the shiny white surfaces, Silvia explains During the weekends, when Now I am feeling like I am more part how she doesn’t like too much light in the weather permits, the family of this island. Not that before I didn’t want the morning, she chose the apartment spend the time aboard their yacht. the exposure but it was the circumstances facing South so the sun starts at 10/11 ‘Sailing is a family passion, it is an that limited more socialising opportunities. and as the sun moves across, she prefers endless adventure and the quality Recently I was invited to a Maltese inside to outside on bright days. time together is priceless.’ wedding and I enjoyed myself so much.’

16 17 Panorama of Ġnejna Bay and Golden Bay. Photo by Zoltan Gabor. applicants to rent as an alternative The Brexit conundrum has left retirement or residence programmes to owning a Maltese property? Malta well positioned as an English also often invest in property in Malta. speaking base in the European It is clear the Maltese property Union. Multinationals can locate their THE MALTESE PROPERTY market does not need the additional European headquarters or set up their MARKET IN INDICES push of investor visa demand for its subsidiaries, holding their Maltese- stability and growth. Policy makers European business licences and Knight Frank’s Global House Price Index have taken a stand that investor visa eventually passporting to the whole 2018 (Q2) has provided that residential prices in Malta have experienced roughly a 17% year-on-year increase, pushing ‘Malta has witnessed a growing the country ahead of Hong Kong to the top spot for the first time ever, according demand for property in the last 5 to the Maltese Central Bank. The report attributes this leap to the ever-growing years, as foreign investors look demand instigated through supply to the island for diverse leisurely restraints, consistent vigorous economic growth ((6.6% GDP growth in 2017) and and business objectives.’ booming technological advancements. The Global House Price Index 2019 Fundamentals of the (Q2) has mentioned a gentle slowdown, programmes requiring the purchase of European Market. Such foreign direct with the growth continuing but with property artificially impact patterns in the investment projects often create a a less accelerated pace, appeasing property sector leading to uncontrolled new demand for property in Malta. concerns of a soaring property market. Maltese property market inflation and social housing issues. The 2019 Report ranks Malta as second Cultural, business and medical in annual % change, with an increase tourism, education and conference of 10.8% from 12 months before. All THE DRIVERS OF tourism all contribute to an all-year- in all, more countries and territories, REAL ESTATE INVESTMENT IS A KEY CONSIDERATION OF ALL INVESTOR THE MALTESE round occupancy and a demand for including Malta, are seeing price rises MIGRATION PROJECTS, WHETHER IN PURSUIT OF PERMANENT RESIDENCY PROPERTY MARKET OR CITIZENSHIP. THE PROPERTY INVESTMENT THRESHOLDS FOR INVESTOR rental properties. Likewise retirees year-on-year but the average rate of Malta is a small island that punches who subscribe to one of Malta’s growth is consolidating significantly. VISA PROGRAMMES VARY FROM PROGRAMME TO PROGRAMME. above its weight in a number of sectors that successive governments have minimum of €350,000 or rent property at many success stories in property incentivised through government INVESTING IN PROPERTY a minimum value of €16,000 per annum. investment, including investors entering grants, tax incentives and a UNDER CITIZENSHIP & buy-to-let businesses, whether adopting general openness to business. RESIDENCE PROGRAMMES Malta has witnessed a growing long term or short term strategy models. The Malta Permanent Residence demand for property in the last 5 years, The online gaming sector alone Dr Maria Chetcuti Cauchi programme (MRVP) requires applicants as foreign investors look to the island for is one of the pillars of the economy FUNDAMENTALS Senior Partner, Property & Projects to buy or rent a qualifying property for diverse leisurely and business objectives. that attracts skilled labour as well as OF THE MALTESE Dr Chetcuti Cauchi advises private and institutional a minimum of 5 years after obtaining The real estate, development and business owners and senior business PROPERTY MARKETS investors investing in Malta through the use residency. The minimum purchase value construction industries have experienced executives to relocate to Malta, investing of special purpose vehicles, structured asset must be of €270,000 for properties a surge, and with a booming market With over 12 Investor Visa programmes in property or feeding a highly performing plans, real estate funds and private equity. Maria situated in Gozo and the South of Malta, comes higher demand, in terms of represented by Chetcuti Cauchi’s rental market. The same applies to the has also been involved in various high-value or €320,000 for properties situated in quantity and quality. This has opened immigration practice, all programmes financial services sector, the shipping, investment projects as well as international the rest of Malta. Minimum rental values opportunities to foreigners to invest in feature buying property prominently superyacht and aviation sectors, as well and domestic development initiatives. are at €10,000 per annum for properties this booming property market. Malta’s as a route to residency or citizenship. as biotech, pharma, high-tech, blockchain situated in Gozo or the South of Malta, property market has maintained its value Indeed Greece and Cyprus require it and fintech industries. In these areas, Chetcuti Cauchi is an international firm, with offices in Malta, Cyprus, or €12,000 per annum elsewhere. and shown resilience, even withstanding categorically, while buying property Malta has carved important niches in London, Zurich and Hong Kong, advising high net worth international the financial crisis of 2008, unlike other features prominently as a route to the world economy through innovation, families and their businesses on corporate, tax, property, residency Likewise, the Citizenship programme property markets in the European Union. residency in Portugal. Why is it that calculated first mover initiatives, & citizenship, financial services, fintech, yachts and jets. requires applicants to hold a qualifying buying property isn’t compulsory competitive legislative provisions +356 2205 6602 [email protected] | cclex.com property in Malta for at least 5 years. They Together with my property law for residency or citizenship in and a practical pro-business culture may either purchase property in Malta at a colleagues, over the years I have witnessed Malta, allowing investor visa across public and private sectors.

20 21 The outdoor living spaces are the main feature of this house, designed to make the most of the Mediterranean scenery.

As any parent he attempts to instill in them some of his own values, Joseph Joseph Calleja with ‘My house is based on my Andrea Bocelli at his annual is of the opinion that, ‘Too many Maltese concert in , Malta. live sedentary lifestyles and are too car living in Malibu — the focus orientated.’ He greatly values family time, going for long exploratory walks is on the outdoor space.’ in the countryside with the dogs. ‘The countryside in Malta although not huge, has plenty to offer, we usually go where ‘My house is based on my living in bee keeper, produce a lot more honey Much more than not many people go and can walk up Malibu — the focus is on the outdoor than is common in Malta. At the back of to 3 hours without seeing a soul. I am space. The nature of the site, set the house there is a very rich untouched surprised how so few Maltese venture on a hill meant I had to build a lot of valley with a fertile ecosystem, this out and go explore the countryside floors. When I purchased it there contributes favorably to the diversity considering the congested towns.’ was already a house and we used of the honey the bees make. the same footprint, the build design When I ask what is in his opinion did not uproot any trees or pull down ‘We produce honey in a very Opera Malta’s most memorable feature, he is any old walls. The interior is as small sustainable manner, if we get honey not hesitant, ‘Malta has spectacular light, as possible, but comfortable. then great, but we make sure not the colours in Malta are so vibrant and to stress out the bees. We test THE SETTING IS A HOUSE pera has an international high standard in his role as Malta’s cultural intense , the way the light falls illuminates He grows citrus trees and fruit trees, the bees and the honey diversity, LATCHED ON TO A CLIFF appeal and Joseph’s schedule ambassador. He is a world citizen who everything and makes it so picturesque... plus he has a bee farm too, ‘I am keeping above all we are trying to give the FACE IN THE NORTH OF is a busy one, his dedication know what he likes, such as, ‘good coffee’. Ask any fine artist or photographer indigenous bees which I am told by my Maltese colonies a boost.’ MALTA THAT BELONGS TO to his art takes him to the and they will answer in a similar vein’. Obest opera houses around the world. His ‘I have lived much more abroad JOSEPH CALLEJA, AKA upcoming season sees him on tour in over the past 18 years than in Malta, Opera, he explains, encompasses ‘THE MALTESE TENOR’. the USA, Puerto Rico, Germany, Austria, it is natural that I weeded out certain all the arts — ‘opera is as much visual THE GLOBAL STAR WITH Russia and Singapore. He is never too cultural habits which do not suit me.’ as it is auditory, as an opera artist I am HIS DISTINCTIVE TONE long in any one particular place. Whilst surrounded by creativity, the world IS ALSO MALTA’S FIRST on tour he lives in hotels or short-term Whilst at home he relishes his free of opera is dramatic, with dance, CULTURAL AMBASSADOR. rental apartments. When not ‘living time and makes certain he spends stage design, painting, costume.’

Words by Iz Collins. out of suitcase’ and when his intensive a lot of it with his two children. He Photography from the artist. travel schedule allows it, Joseph comes strives to fits his commitments such I notice a stark contrast in the home to his beloved Malta. Nowadays as his work for the ‘BOV Joseph Calleja minimalist house design to the he finds it easy to travel to and fro Foundation’, around their schedule. fabricated sensational world of opera. as the airport is well-connected. The open spaces allow a person to ‘As they grow their free time really breathe and appreciate its natural Exposure to so many cultures decreases as they pursue their own surroundings, this house exudes a breeds a man who has a refined sense of interests in arts and sports, so when calmness, which I am positive is a responsibility, a man of fact who sets a I am here, I am glued to them.’ welcome change from his work life.

22 23 Sustainability is paramount these days, Joseph tells me that he understands the need for growth — however he is passionate that the only way to proceed is to ensure it is done with intelligence.

‘Malta has a stronger than ever economy but there are some considerations that should be at the forefront of our minds such as, traffic control and best practice in build solutions. We should be making more investment in

environmental sustainability.’ Joseph Calleja with his prolific voice has made him a global star in the world of opera.

‘Multiculturalism brings some challenges but, controlled and managed, it will add value to our island.’ Real Estate Developer Suite Loans to Finance Your Projects ‘Global warming is happening, and ‘Malta is becoming more although climate change can be argued multicultural than we can remember by some to happen as part of the Earth’s it to be. This is good for the country, FIMBank provides financing solutions to established developers for selected projects at competitive market natural process, climate scientists as long as the people we welcome, terms and pricing. think that as a species we are almost respect our laws and we are open- certainly accelerating this. The planet hearted. Multiculturalism brings We create funding solutions for residential, commercial and mixed use developments. FIMBank’s Real Estate will ultimately be fine but our actions some challenges but, controlled and team can assist you every step of the way, providing the assurance of having the financial backing to start can end up with the Earth shaking managed, it will add value to our island.’ us off like a bad case of the fleas.’ and finish your project. He is honoured to be Malta’s Joseph is hopeful for Malta, he cultural ambassador and along with the Please contact us to discuss your project ponders that maybe due to our colonial constant promotion of Malta overseas, He concludes, ‘The Maltese history many Maltese did not feel much through the BOV Joseph Calleja are generous, warm-hearted, very ownership and perhaps, this has led to a Foundation he is giving an opportunity hard-working and we excel on an 2132 2100 [email protected] www.fimbank.com lack of respect for our surroundings. This to other Maltese individuals to pursue individual level in all the plethora has been changing with the span of time. their artistic talents professionally. of academics, sports or arts. FIMBank p.l.c., Mercury Tower, The Exchange Financial & Business Centre, Elia Zammit Street, St. Julian’s STJ 3155 FIMBank p.l.c. is a licensed credit institution regulated by the Malta Financial Services Authority and is listed on the Malta Stock Exchange.

24 Valletta. Photo by Alex Turnbull. DEVELOPMENT FOCUS

MERCURY TOWERS

Mercury rising

Atop nine-floors of light-flooded apartments, MERCURY TOWERS RAISES MALTA’S SKYLINE UP TO 33 STOREYS IN A FEAT OF the ‘twist’ houses pools, bars and a dramatic entrance to the Me by Melia Hotel, rising skywards into the upper part of the tower. ENGINEERING DIRECT FROM THE IMAGINATION OF ZAHA HADID ARCHITECTS.

ercury Towers is an Zaha Hadid Architects’ extraordinary entirely rejuvenated design is an essay in organic modernism. mercuryneighbourhood in The desirable residences within offer a , gifting a rare way of living in this storied Msoaring additionrising to St Julian’s and St Julian’s destination. Whether global creating a vibrantMercury Towersnew raises cultural Malta’s skyline hub. up to 31 storeys in ZAHA HADIDor ARCHITECTSlocal, Mercury Towers presents a a feat of engineering direct from the imagination of Zaha Hadid Architects. Soaring steeply from Paceville’s streets, The principal towerthe principal ascendstower ascends to nine to floors nine before twisting “Peoplesense say ofI design occasion architectural at every turn, with 45 degrees towards the Mediterranean, the better to take floors before intwisting its sea views. At ground12 leveldegrees the development continues icons.places If I design to go, a building the unexpected and it to discover, with an impeccable reimagining of historic Mercury House, towards the Mediterranean,alongside light-flooded contemporary the spacesbetter for restaurants, becomessights an toicon, see that’s and ok.” much to entertain. bars, stores, performance venues, galleries and beautifully to take in its sealandscaped views. public spaces. At ground – ZAHA HADID, 1950-2016

level, the developmentMercury Tower continues soars above the surrounding cityscape. Zaha Hadid Architects’ extraordinary towers signal a rich reinvention of Malta’s most popular district. The with an impeccableexceptional reimagining apartments within offer of a rare way of living in this storied St Julian’s destination. Flooded with natural light, these apartments are a tribute to modern design. Mercury Towers is set to create a vibrant new neighbourhood, serving residents, the historic Mercury House,wider community alongside and global lovers of food,art and fine design. For more information: light-flooded contemporary spaces for

For more information or viewings please contact restaurants, bars, stores, performance +356 9914 0014 E: [email protected] venues, galleriesM: and +356 99140014 beautifully [email protected]

landscaped publicmercury.com.mt spaces. www.mercury.com.mt

28 29 DEVELOPMENT FOCUS

skills and apprenticeships during centuries, is envisaged to be restored the construction phase. and converted into a leading five star hotel with the possibility of a Casino. The result will be a largely pedestrianised development with over Commercial 80,000sqm of public park space around An animated retail offering is sensitively Fort Manoel and low-rise residential designed around the Island’s open public units. A number of public squares will spaces and pedestrian streets centred connect the streets at ground level, while around the historical Cattle Shed. parking will be located underground for a more sustainable car-free approach. Yacht Marina The South shore yacht marina will As part of its ongoing commitment be significantly upgraded to a world to engage with and consider the class yacht marina catering for a communities surrounding both Tigné and mix of small scale and large yachts, Gżira, MIDI together with the Gżira Local accommodating circa 180 berths. creating a largely pedestrianised Council, established the Manoel Island car-free streetscape. Foundation with the specified purpose Cultural of being entrusted with the guardianship Fort Manoel is destined to become Public Places of the rights and obligations agreed a centre for Culture and the Arts Unique public spaces will be created to between MIDI and the Gżira Local comprising galleries, museums, shops, at street level connecting the Council as set out in the Guardianship restaurants and a Parade Ground for pedestrianised streets to a series Agreement in order to safeguard the open air events, all with full public of open spaces and piazzas for the MIDI interests of the general public. access; the Chapel will also be used enjoyment of the general public. for community events, weddings and Toby Blunt, Senior Partner at celebrations. This helps to ensure Public Park Foster+Partners commented, ‘Foster+ that Fort Manoel will become one of MIDI will preserve, improve and deliver Partners is proud to be designing the Malta’s most visited attractions. more than 80,000sqm of new green/ masterplan to redevelop Manoel Island, family park space around Manoel Manoel Island which proposes to restore and breathe Car Free Island, including Fort Manoel and the new life into the much loved historical Vehicle parking and circulation Island’s foreshore, for the general buildings located throughout the island, will be located below ground, thus public to enjoy for the long term. sensitively integrating them with new a true urban oasis buildings to create a destination for locals MIDI PLC (MIDI) ACQUIRED o date MIDI has spearheaded its former glory. The conservation and and visitors to Marsamxett Harbour — a THE EMPHYTEUTICAL TITLE the mixed-use lifestyle restoration work undertaken by MIDI at true urban oasis in the heart of the city.’ development at Tigné both Tigné Point and Manoel Island are TO THE TIGNÉ POINT AND Point, best known for its still considered the largest restoration The key components of the MANOEL ISLAND SITES Tpremium seaside location and luxurious initiative of local heritage, ever carried Manoel Island Masterplan are: FROM THE GOVERNMENT apartments. These residences are further out by the private sector in Malta. OF MALTA IN JUNE 2000. complemented by The Point shopping Residential mall, Malta’s largest retail centre and The residential component of the MANOEL ISLAND the car free Pjazza complete with The development is concentrated at the MASTERPLAN Centre, a business complex overlooking western part of the island and will Pjazza Tigné and the open sea. The Masterplan for the restoration comprise a series of low rise (3 to 4 floors and redevelopment of Manoel above the substructure) urban blocks The extensive restoration of various Island, by the award winning and providing accommodation ranging from important heritage sites both on Manoel internationally renowned architects, one bedroom courtyard units to unique For more information: Island and at Tigné Point is an on-going Foster+Partners, will deliver and three bedroom marina front penthouses. process and to date MIDI has invested create a vibrant, sustainable and +356 2065 5500 over €12 million. Among the heritage luxurious destination and one Hospitality [email protected] sites restored, Fort Manoel stands which will significantly benefit The Lazzaretto, which has been www.midimalta.com majestically and impeccably restored to local business, and invest in adapted for various uses across the

30 31 DEVELOPMENT FOCUS

buyers may purchase more than one property within the development or own a second property here to place it on the highly sought after letting market in this locality, where many of Malta’s five star hotels are located.

This is a self-contained development covering a total area of 18,500 square metres offering all the amenities of a metropolitan centre, yet with all the comforts and security of an exclusive 2020) and a public car park with over 5,000 square metres of office space community where everything is within 300 spaces. A great deal more is found that is located immediately near one easy reach. Residents enjoy a car within a short walking distance. of the island’s main arterial roads free open space and a large private so that at Pendergardens you can PENDERGARDENS landscaped piazza creating a peaceful Seven levels within the very easily live, work and relax where and tranquil environment. All available Pendergardens Tower include over everything surrounds you. properties enjoy far-reaching sea, country and city views and are extremely well lit as all rooms have outfacing windows or balconies. Amenities within For more information: Where everything Pendergardens itself include a wellness centre, spa and gym, a large and fully +356 2248 8600 equipped supermarket, café, car rental [email protected] office, opticians and barber shop and www.pendergardens.com surrounds you an outdoor heated pool (opening in

PENDERGARDENS IS hen in 2005, a developments and the Pendergardens A SELF-CONTAINED consortium of investors development was built in two phases DEVELOPMENT OFFERING acquired 27,000 square that are now nearing full completion. A SAFE, QUIET AND metres of prime land inW St. Julians, the locality and all of Malta Phase One included the development TRANQUIL ENVIRONMENT were very different places to live in. The of 150 residential apartments, spread WITHIN MALTA’S MOST area was already one of Malta’s most over six low-rise blocks together with COSMOPOLITAN, BUSINESS bustling shopping and entertainment 406 car park spaces in an underlying AND ENTERTAINMENT destinations but there was so much more car park. These apartments were all DISTRICT. room for improvement of the amenities finished, sold and handed over to their and infrastructure. The financial crisis owners by 2016. Phase Two includes of 2008 that disrupted worldwide the development of two residential housing markets hadn’t yet happened, blocks, a 17 floor tower and another and although Malta was largely underlying car park. 120 apartments unaffected by that crisis, its property are situated in two new blocks and the market was sluggish and nowhere near upper levels of Pendergardens Towers. as buoyant and exciting as it is today. Still, since then parts of the land were Since the project enjoys Special transferred for other complimentary Designated Area status, international

32 33 DEVELOPMENT FOCUS

PIAZZETTA BUSINESS PLAZA

iazzetta Business Plaza is a new landmark office development, set to open An address that its doors in November P2019. Located on the much sought after Sliema seafront, with a myriad of amenities on site; this iconic demands attention development is superbly accessible, with ample on-site parking facilities and frequent public transportation DEVELOPED BY THE GASAN GROUP OF COMPANIES AND CONCEIVED AS AN EXCLUSIVE connections at its doorstep. OFFICE DEVELOPMENT ON THE UPPER SLIEMA SEAFRONT, THE PIAZZETTA BUSINESS PLAZA HAS BEEN DESIGNED TO CATER FOR THE REQUIREMENTS OF 21ST CENTURY BUSINESS. Designed as a contemporary office block, Piazzetta Business Plaza pays homage to the former private residence that once stood on this site. Elements including the magnificently restored façade, as levels enjoy ample natural light, external Food and Beverage / Retail offerings well as the sprawling verdant piazza spaces and outstanding sea views. within its confines. The Piazza will be at the fore front of the development, professionally landscaped with sensitive have been carefully integrated to The Piazzetta Business Plaza’s lighting and footpaths and will enhance add emphasis to the development’s environment will include a carefully the appeal and feel good factor of this presence and functionality. designed, 1,470 m² piazza, with select uncompromising development.

A welcoming and highly finished reception lobby provides secure access to the office levels above. Fitted out to For more information: grade A standard, office floor plates range between 360 and 1,120 square +356 2778 8500 meters and allow for efficient planning [email protected] modules, supporting both open and www.gasan.com office intensive uses equally. All office

34 35 DEVELOPMENT FOCUS

THE QUAD BUSINESS TOWERS Setting the standards for tomorrow’s workspaces

THE QUAD BUSINESS est defined through its vision: (certification of Leadership in Energy TOWERS IS A STUNNING ‘a business address like no and Environmental Design), The Quad COMMERCIAL other’ The Quad Business Business Towers will be a true next- DEVELOPMENT LOCATED IN Towers is an idea borne of the generation office development. The four- BGasan and Tumas Groups, two of the tower concept, reaching a commanding THE CENTRE OF MALTA, THAT most notable real estate development maximum height of 19 stories, will include WILL SET NEW STANDARDS groups in Malta and designed by leading over 38,000 square meters of functional FOR TOMORROW’S architectural firm DeMicoli and Associates. and flexible, Grade A office space, WORKSPACES. designed to cater for all modern business The concept of The Quad is to needs, with efficient, secure access create an unmatched workspace from the entrance right to your desk and for modern, professional companies aptly supported by five levels of well- in which to conduct business. designed underground parking facilities.

Set for completion in 2021 and projected Besides being striking from a visual to achieve LEED® Platinum Certification perspective, The Quad has been designed

to provide top class facilities for the Located in the geographic centre of the location offers excellent main benefit of its tenants. Mixed commercial Malta within the Central Business road connections to the rest of the areas spread over two levels have been District - which is in its own right, island with The Quad expected to crafted to include open spaces and a model for future business and be the iconic landmark building that landscaped piazzas, dining and retail commercial clustering, being managed defines this modern district. The Quad options, a fitness & wellness centre, a through the public-private partnership, Business Towers has also been granted supermarket, a childcare centre with Central Business District Foundation, a Special Designated Area status. a green outdoor play area, as well as areas for meetings and conferences. All the operators of the amenity services are top local and international names For more information: that are leaders in their areas; this serves to ensure that the working +356 2778 8124 community within The Quad can enjoy [email protected] a facilitated work-life experience www.thequad.com.mt found nowhere else on the island.

36 37 DEVELOPMENT FOCUS

THE SHORELINE Serene lifestyle in the South

views from spacious terraces and the BY FAR THE LARGEST THE RESIDENCE AND MOST SIGNIFICANT literally shoreline location of this project MIXED-USE DEVELOPMENT Synonymous with a serene lifestyle in this is unique in the Maltese Islands, as well as emergent part of Malta, The Shoreline being the only current Special Designated OF ITS TYPE IN THE consists of a residential element of Area with significant numbers of units SOUTH OF MALTA. just under 370 upmarket residential available for sale, allowing both EU and units made up of a mix of studios, non-EU nationals to purchase multiple units 1-2-3-bedroom apartments, duplexes and with the same rights as Maltese citizens. penthouses, all finished to the highest standards and having an assortment of Market reception has been excellent, landscaped open spaces and community with over 160 units units already on with the authorities or under Reservation large central atrium. The Shoreline Mall is being given to optimising the brand amenities. Most units enjoy spectacular Promise of Sale Agreements registered Agreement against holding deposits. Buyer will be offering a shopping experience selection and clustering effect in ratios are 49% local and 51% overseas like no other in Malta in terms of order to offer the optimal mix of retail, clients, with the Chinese and South African circulation space, feel, natural light and leisure, entertainment and catering markets showing particularly keen interest. quality of materials, not to mention in this exciting new destination. Given the wide selection of layouts, the three spacious levels of parking orientations and sizes, there is a healthy that underly the whole project, giving Excavation works are currently in full mix of investors, first time buyers, retirees, customers ease of access in a secure swing and it is envisaged that The Mall buy-to-let clients and end-users who intend and intelligently managed parking facility will be completed and open for business to reside permanently at The Shoreline. that is set to be one of the most modern within two and half years from start, with and innovative in the Maltese Islands. all The Shoreline residences completed The latest launch of another two and handed over a further one year down upmarket blocks in June this year has Expressions of interest have been the line. It is the developers’ intention also been well-received by discerning forthcoming from about 70% of the to build the whole project at once. clients in search of something truly brands and operators presently in different and special, be it the outstanding Malta, and The Shoreline is actively Live, shop, explore and dine — all floor plans, the fantastic views or the engaged in discussions with several this and more may be enjoyed from unique foreshore position. This is major foreign brands not yet present the literally shoreline location of this Mediterranean living at its finest. in Malta, with a view to attracting them project, in a safe, child-friendly, car- to The Shoreline Mall. Great attention free and unpolluted environment. THE MALL

The retail element is composed of an upscale shopping mall having a gross For more information: floor area of 25,500 sqm and just over 14,000 sqm of lettable outlets that will +356 2180 8895 / 9949 7518 provide expansive retail areas over two [email protected] double-height floors of retail space, www.theshorelineresidence.com illuminated naturally on both levels via a

38 39 DEVELOPMENT FOCUS

architects for the project, while the retail and public spaces have been designed by renowned global design firm One Works.

World-class design firm, YOO, co- founded by one of the world’s greatest living designers Philippe Starck will exclusively design the interiors for the residential tower – including the apartments, common areas and foyer.

Alongside the carefully designed homes, Townsquare will curate a forward-thinking mix of retail, restaurants and cafes combining independent, artisan and destination brands to create a memorable experience from morning to night.

International landscape architects Paisa’ and Maltese expert Antoine TOWNSQUARE Gatt will deliver the quality landscaping plans which include environmental features such as vertical planting and green facades. With over two- For more information: thirds of Townsquare designed to be A signature address in open air and car-free, it will provide +356 2133 1560 a perfect mix of outdoor spaces for [email protected] the community, residents, visitors and www.townsquare.com.mt the heart of Sliema workers to enjoy throughout the year.

LOCATED IN THE HEART OF ocal heritage and contemporary Central to the project is a landmark SLIEMA, ONE OF MALTA’S architecture will unite around 27-storey residential tower with 159 MOST COSMOPOLITAN a central piazza connected stunning apartments - set to be the first by open-air avenues, gardens in Malta to offer world-class designer COASTAL TOWNS, Land thoughtful spaces – all designed interiors. With panoramic views of TOWNSQUARE HAS to foster real social connections and a Valletta and the Mediterranean, access BROUGHT TOGETHER THE place to meet, mingle, shop and dine. to high-quality amenities, underground VERY BEST LOCAL AND parking, smart technology and concierge INTERNATIONAL TALENT On completion, Townsquare will services, the luxury apartments will TO DESIGN A SIGNATURE include; a beautifully restored 19th Century offer the very best in urban living. ADDRESS AND DESTINATION Villa, luxury residential accommodation, THAT WILL OFFER a captivating open-air retail, food and Award-winning architects Martin INCREDIBLE RESIDENTIAL, dining experience, contemporary Xuereb and Associates, who have RETAIL, BUSINESS AND offices, relaxing gardens and a vibrant designed several iconic buildings, and SOCIAL SPACES FOR PEOPLE. cultural hub which are all designed played a central role in the rejuvenation with the future customer in mind. of Gozo’s famous Cittadella, are the lead

40 41 DEVELOPMENT FOCUS

Via the utilisation of the ‘Thermally Activated Building System’ (TABS), a technological landmark for Malta, which optimises operating efficiency, Trident Park will deliver a temperature-controlled environment through the circulation of water via a network of pipes embedded in the concrete of every ceiling. This Brewhouse, which will house a range innovative technological approach will not of catering establishments, including only result in a clean roof office finish but but not limited to a bistro, coffee shop, also avoid the discomfort and inefficiency micro-brewery and a roof top bar, flexible of air draughts, which are synonymous workspace and a variety of unique indoor with standard air conditioning systems. and outdoor spaces for workshops, meetings and social gatherings. Trident Park is set to offer the latest TRIDENT PARK communication technology infrastructure A Green Travel Committee will together with a 170-seat modern and be formed between Trident Park and fully equipped conferencing facility, an tenants whereby the parties will liaise elegant business lounge located in the relentlessly to promote the utilisation former Brewery’s art deco boardroom, of alternative means of transport Welcoming tenants and their reception services and round-the- rather than the use of personal cars. employees together with visitors as The eco-friendly clock security services, combined Given the multiple arterial roads which of the first quarter of 2021, Trident with stringent protocols to preserve connect and feed into the Central Park is projected to be a genuinely the interests of tenants and visitors Business District, Trident Park is easily green office campus and world-class green office campus alike. The office park’s offering will also accessible and well positioned to business destination, which aims to include a range of amenities such as a promote Green Travel initiatives and meet and exceed the requirements of childcare centre for tenant employees, has already identified several such today’s and tomorrow’s businesses. TRIDENT PARK IS A ocated in the heart of the achieve BREEAM Excellence certification a large state-of-the-art gym, wellness opportunities and will work with tenants Central Business District and will consist of gardens and open centre and other retail outlets. Moreover, to embrace such initiatives together We truly look forward to welcoming STUNNING LARGE-SCALE on the site of the former spaces intersected by seven low-rise Trident Park, will be supported by The with others, which may be proposed. you and delighting you at Trident Park. REGENERATION PROJECT Farsons Brewery, the vision office blocks which are all connected via WHICH WILL SEE ONE Lof this prestigious redevelopment multiple walkways and panoramic lifts. TH OF MALTA’S FINEST 20 is to create an exceptional work Inspired by the traditional character of CENTURY INDUSTRIAL environment in which businesses Maltese palaces and located opposite BUILDINGS TRANSFORMED can flourish and excel. the historic Wignacourt aqueduct, For more information: INTO A THRIVING AND the design ethos was to retain a low +356 2381 4496 / 9942 8282 / 9955 1999 VIBRANT GREEN OFFICE Conceived by world renowned built-area ratio and optimise natural [email protected] CAMPUS AND WORLD- architect Ian Ritchie and designed to lighting and ventilation to deliver www.tridentparkmalta.com CLASS BUSINESS meet the strictest of environmental an unmatched tenant experience DESTINATION. codes, Trident Park is projected to of comfort and well-being.

42 43 Portomaso. Photo by Alex Turnbull. Global access GlobalGlobalis power.Global accessaccess access Innovative financial isis power.power.Globalis power. access Discoveris power. Malta alined with NEXIA DiscoverDiscover Malta Malta alined with NEXIA Discover Malta alined with NEXIA regulation for a robust alined with NEXIA financial services industry Discover Malta alined with NEXIA

he stability of locally Alternative Investment Funds (NAIF) MALTA PRIDES ITSELF AS based credit and financial regime. The coming to the floor of BEING A JURISDICTION OF institutions, coupled with the Virtual Financial Asset (VFA) CHOICE FOR NUMEROUS regulatory certainty through Act, which specifically regulates the PROMOTERS OF FINANCIAL Tthe clear regulatory regimes, provides public offering of virtual financial SERVICES ENTERPRISES. the ideal platform for operators to assets and service providers such as THE ISLAND PROVIDES A set up shop in Malta and to avail of brokers and exchanges, could also PERFECT FORUM WHEREIN Malta as a gateway to the provision of be said to be evidence of Malta’s AN EVER INCREASING, services across the European Union. efforts to stand out and be a leader

HIGHLY SKILLED, ENGLISH Legislators have continuously strived in innovative financial regulation. 15mm all round SPEAKING WORKFORCE to put Malta on the map by providing CAN DRIVE THE FINANCIAL the financial services industry with Additionally, Malta offers a diverse 15mm all round SERVICES INDUSTRY innovative products which allow the capital markets option for all entities, FORWARD THROUGH jurisdiction to stand out when compared ranging from small and medium sized to its peers in Europe and beyond. enterprises on the Prospects Multilateral INNOVATION AND LEGAL Trading Facility (MTF) to large entities CERTAINTY. The aforementioned has been who opt for a wholesale issue on the

Words by Karl Cini [email protected] proven in the funds industry, through Institutional Financial Securities Market Partner Nexia BT the emergence and firm establishment (IFSM). The Malta Stock Exchange is the of the Professional Investor Funds go-to regulated market for the majority (PIF) regime and innovative Notified of offers launched from Malta.

Advisory | Tax | Audit | www.nexiabt.com

Nexia BT is a member firm of the “Nexia International” network. Nexia International Limited does not deliver services in its own name or otherwise. Nexia International Limited and the member firms of the Nexia International network (including those members which trade under a name which includes the word NEXIA) are not part of a worldwide partnership. Advisory | Tax | Audit | www.nexiabt.com AdvisoryAdvisoryAdvisory | | Tax Tax | |Audit | Audit Tax || Audit Citizenship| | | Residencywww.nexiabt.comwww.nexiabt.comwww.nexiabt.com Nexia BT is a member firm of the “Nexia International” network. Nexia International Limited does not deliver services in its own name or otherwise. Nexia International Limited and the member firms of the Nexia International network (including those members which NexiaNexia BT BT is is a amember memberNexia firm BT firm is of a ofmemberthe the “Nexia “Nexia firm International” of International” the “Nexia network.International” network. Nexia network.Nexia International International Nexia InternationalLimited Limited does Limited not does deliver does not services delivernot deliver services in itsservices own in name inits its own own name name trade under a name which includes the word NEXIA) are not part of a worldwide partnership. oror otherwise. otherwise. Nexia Nexiaor otherwise. International International Nexia Limited International Limited and and the Limited themember member and firms the firmsmember of the of Nexia thefirms Nexia International of the International Nexia International network network (including network (including those (including members those those members which members which which tradetrade under under a aname nametrade which which under includes aincludes name the which the word includesword NEXIA) NEXIA) the are word not are NEXIA) part not ofpart are a worldwide of not a partworldwide of partnership. a worldwide partnership. partnership.

46 TURNKEY PROJECTS | INTERIOR DESIGN | PROJECT MANAGEMENT | MODERN & CLASSIC FURNITURE A fresh perspective with Make your passion, persistence HOUSE a living and perseverance

HOME stablished in 2008 by Bernard them navigate the complex process that dealing Mangion, Ben Estates offers a fresh in real estate has become. With the company’s perspective and thoughtful approach extensive knowledge in every aspect of the that is different from that of any market, and fuelled by consumer research and Eother estate agency in the Maltese islands. insights, Ben Estates can be considered to be the go-to source for real estate in Malta. Bernard strongly believes that it is very important to be passionate about what you do in Ben Estates offers a variety of real estate order to be successful and offer a better service services including residential sales and lettings, to your clients, and it is with this ethos that he sites and plots for developments, commercial has successfully driven the company to be one lettings and sales, property valuations, of the fastest growing real estate organizations. property management and much more.

Passion, persistence and perseverance We are passionate about delivering surely proved to be an asset to the organisation exceptional consumer experiences. By offering and with this solid foundation, the company a complete suite of real estate services, we will keep on growing in the future. ensure that we meet our consumers’ every need. From sales to rentals, we have experts in Today’s consumer needs a trusted resource every field to guide you skilfully from beginning that can separate signal from noise and help to the end of your real estate journey.

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49 /BenEstates 36, Erin Serracino Inglott Street, Iklin @benestates +356 2258 4000 www.benestates.com [email protected]

MADLIENA: €680,000 : €990,000

LUXURY FINISHED AND FURNISHED A TRADITIONAL MALTESE TOWNHOUSE TWO BEDROOM APARTMENTWITH MADLIENA: €3,100,000 VALLETTA: €3,500,000 STUNNING SEA VIEWS This home is split over three floors and features a roof terrace with a pool, three double bedrooms, two bathrooms and stunning harbour views. The NEW VILLA WITH UNOBSTRUCTED COUNTRY UNCONVERTED PALAZZO The apartment consists of an entrance hall, two double bedrooms (main property covers 315 Sqm and is ready to move into. Property is located AND SEA VIEWS with en-suite and walk-in wardrobe), a brand new main bathroom, box close to Gardjola Gardens. A majestic unconverted Palazzo, covering approx. 1,160sqm of built up area room, washroom and a spacious open-plan kitchen/living/dining enjoying The home is spread over 700 sqm of floor area with indoor/outdoor pools, with permits in hand to build another floor, having a total of 26 existing rooms sea and country views. entertaining areas, a spacious living area with open views, three double located in the heart of the capital city, Valletta. Property boasts original bedrooms all with en-suite facilities, a lift, maid quarters, a gym, sauna, bar, features such as high ceilings, exposed beams and a beautiful cellar. kitchenette, three car garage and more. Property is being offered finished to high standards.

GĦARGĦUR: €5,500,000

FULLY-CONVERTED 5000 SQM FARMHOUSE ST LUĊIJA - GOZO: €2,400,000 Accommodation comprises a bright and spacious entrance hall, leading SLIEMA: €910,000 onto a large study and dining area with outside terraces overlooking the LUXURIOUS VILLA WITH STUNNING VIEWS OF garden with landscape. Complimenting this property is a separate living FINISHED PENTHOUSE WITH STUNNING VIEWS GOZO, COMINO AND MALTA room, kitchen, dining and TV room at ground floor level. Upstairs one finds KALKARA: €465,000 a large double bedroom with en-suite, terrace, study and walk-in wardrobe A fully furnished duplex penthouse located in a prime residential area, The Home consists of splendid arched rooms with traditional Maltese overlooking surrounding garden views. The left hand side of the property just a few metres away from Tigné Point. This modern studio penthouse features, 3000sqm of well-kept mature gardens, and a large pool with A STUNNING SEAFRONT APARTMENT consists of a separate corridor leading to a guest bathroom, two large enjoys breath-taking views of Valletta Bastions and Manoel Island Marina. a spacious deck. The ground floor level includes a living room, kitchen, double bedrooms with a spacious en suite and walk in wardrobe, a laundry The Accommodation comprises an open plan kitchen, living and dining dining area, a bedroom, and a bathroom while the first floor houses the The Apartment comprises two large double bedrooms, both with en suite room with a separate entrance from the garden area and a study area. The area, and a large terrace with outdoor furniture, ideal for entertaining. sleeping quarters with four large bedrooms and two bathrooms, with two facilities, a main bathroom, front and back balconies .This home is fully pool area has an open deck area, a bar, dining area, BBQ area, pool, chill out Property is fully equipped and is perfect as a bachelor’s pad in the heart of the bedrooms enjoying terraces overlooking the pool and gardens. furnished and ready to move into. areas, guest bathrooms with bathrooms and deck. of the city.

50 51 Outsource your IT Support at a fixed-cost

Your company can always rely on Vianet for IT support, from onsite and remote tech support to Cloud Service management – fully-integrated and tailor-made to Always at the service your company’s needs. The biggest perk we can offer you is peace of mind, as you can rest assured that your IT system is taken care of at all times. cutting edge

halia was founded in Malta in PROPTECH & THE FUTURE 1982 and is the largest privately- owned real estate agency in As key players in Malta’s real estate industry for the Fixed Cost Contracted Response Time 24/7 Monitoring Malta and Gozo. The organisation past 38 years, Dhalia is always looking ahead to see Dcurrently has a branch network which what the future will bring. Being major innovators in You never need to worry about Included in the agreement Your IT system is monitored 24/7 incorporates 17 offices around Malta and the field is no easy task, especially in real estate where exceeding your IT Support budget. are guaranteed response by our control room. We will Gozo supported by over 150 experienced innovative ideas quickly come and go. The relationship You will pay a fixed monthly rate. times depending on the know immediately if anything urgency level of the issue. goes wrong with your system. managers and property consultants. between property and technology has always been at the heart of Dhalia’s strategy for the future. In fact At Dhalia, we know what it takes to be Dhalia was the first estate agency in Malta to embrace successful in this fast evolving industry. Regular the world wide web, launching a website in 1997. By investment in the education and training of our 2003, this portal had evolved to showcase 15,000 property consultants ensures they are kept up properties. In 2015, Dhalia brought 3D technology to Increased Uptime Tailor Made Packages Recommendations to date with the latest news and market trends. the Maltese Islands with its introduction of cutting Dhalia’s property consultants are in a position edge virtual property viewings. Today, the company is Due to our monitoring system and Your Managed Services package We provide recommendations on to provide professional guidance to customers again pushing the bar by initiating the use of artificial ongoing preventive maintenance, will be tailor made to suit your IT Systems automation to help in all market niches and across all price ranges. intelligence to provide estimated property valuations. your system will enjoy much higher business requirements. reduce your staff inefficiencies uptime rates, thus your employee and improve business processes. productivity rate will increase. Cobalt House, 1st Floor, Zone 4, Triq l-Imdina, Central Business District, . +356 2149 0681 Get in touch with us to discuss your requirements by sending an [email protected] email to [email protected] or call on +356 2722 1629 www.dhalia.com www.vianet.com.mt 2, Liesel Court, Mimosa Street, Guardamangia, Malta 53 Cobalt House, 1st Floor, Zone 4, Triq l-Imdina, /DhaliaMT Central Business District, Birkirkara. @dhalia_mt +356 2149 0681 www.dhalia.com [email protected]

Property valuations just got smarter : €495,000 MANIKATA: €795,000 DHALIA IS LAUNCHING AN ONLINE VALUATION TOOL WHICH USES ARTIFICIAL TOWNHOUSE HOUSE OF CHARACTER INTELLIGENCE TO PROVIDE A PROPERTY VALUATION ESTIMATE. OWNERS CAN VISIT PROPERTYMALTA.MT, ENTER THEIR PROPERTY DETAILS, AND INSTANTLY FIND OUT THE Recently converted corner townhouse, retaining all original features. The An enchanting and unique, well maintained 400-year-old house of ESTIMATED VALUE OF THEIR PROPERTY. property opens into a welcoming open-plan sitting/dining room which character with large terraces and stunning views. A courtyard leads leads to a separate fitted kitchen and a guest toilet. On first-floor level one into the spacious living area, and on to the dining area, modern fitted finds a large main double bedroom with Maltese balcony overlooking the kitchen, study, an area for a wine cellar, and there is also a washroom plus facade of the house, another bedroom (currently used as a second living bathroom. Stairs lead up to a bright wide hall, three double bedrooms, one HOW DOES IT WORK? room), and a bathroom which leads onto a terrace. Ref P000216812 single bedroom and two bathrooms. Ref P000215450

The technology works by applying an artificial intelligence model to Dhalia’s large database of property values TOWNHOUSE and other local market data. The This one-of-a-kind townhouse is located in the heart of St. algorithm scans all data and applies Julian’s, overlooking the picturesque Spinola Bay. On the first- filters to generate an approximate floor there are three double bedrooms, leading on to a private valuation. This valuation is based SOLE AGENT terrace/garden. On the second floor, there is an open-plan on various factors including similar layout with a fully equipped kitchen/breakfast space, as well as properties in the locality, and takes into a large lounge/dining room leading onto a spectacular terrace consideration the size of the property overlooking the bay. There are also two bathrooms, laundry room and a guest toilet. The property boasts underfloor and the number of bedrooms. heating, is fully air-conditioned, features double glazed windows, and also enjoys nine photovoltaic panels on the roof. WHAT HAPPENS IF THERE ST JULIANS: €1,250,000 Sole Agency. Ref P000211092 ISN’T ENOUGH DATA? properties, an automatically-generated etc. By applying machine learning and If the system doesn’t find enough valuation will not suffice. At all times artificial intelligence technologies data to provide a confident estimate, a property agent is just one step to these parameters, the algorithm then clients can request a human away, making this a hybrid system. can estimate the value of a property valuation which will be provided within in a given geographical area. 24 hours. This information is then MACHINE LEARNING FOR retained within the system and applied PROPERTY VALUATIONS THE FUTURE to future requests, allowing the AI model to learn from experience. Dhalia’s machine learning tool Dhalia’s vision for the future is one where makes predictions by learning from humans and artificial intelligence work SLIEMA: €975,000 existing statistical data. It takes into side by side to improve daily life. After MELLIEĦA: €350,000 COMPLEMENTARY consideration the relationships between bringing 3D property scanning to the TECHNOLOGY TOWNHOUSE the property details - such as location, Maltese Islands almost a decade ago, GROUND FLOOR MAISONETTE Dhalia’s artificial intelligence tool works size, and number of bedrooms - and Dhalia is once again at the forefront of A totally renovated townhouse in a lovely part of Sliema. Layout comprises Immaculate, designer, partly furnished and finished elevated ground hand-in-hand with human knowledge. the price of the property. According to integrating property and technology. an entrance, a separate lounge, dining room and spacious fully fitted kitchen/breakfast. There is a bedroom with an ensuite, sauna, and a floor maisonette. This stunning home has two spacious bedrooms, two The data behind the system has been these relationships, a property’s price lovely garden ideal for entertaining. Upstairs there are two good-sized bathrooms (main bedroom with ensuite), open plan modern living, dining built upon decades of human expertise. depends on parameters such as the Try it yourself — visit bedrooms, each with ensuite. On the roof level there is a large roof terrace and kitchen area all leading to a spacious leisurely yard. Optional two car Especially in the case of one-of-a-kind number of bedrooms, area, location, https://propertymalta.mt with Jacuzzi hot tub and laundry room. Ref P000215382 lock-up garage available. Ref P000208242

54 55 MYOKA.COM

Home grown leadership with international reach

ngel & Völkers Sara Grech is a luxury Much of the strength of the brand in real estate agency that specialises the property market is due to the extensive in exclusive properties for sale education and training of its employees, the and to rent in Malta and Gozo. continuous interchange of knowledge within E the company, the global network of shops, LEARN TO LOVE YOURSELF: Welcome to Malta’s FOR YOUR TEAM: Employee recognition is the ideal favourite body and mind sanctuary. Restore your way to acknowledge a person’s or team’s performance With over 30 years experience in Real Estate, as well as the unique working platform which energy levels and embark on a journey of pure bliss. or effort in the support of your company’s goals and Engel & Völkers Sara Grech is one of the leading enables agents to exceed the expectations Enjoy a fusion of oriental and holistic body treatments values. Whether you are looking to say ‘thank you’ to real estate agencies in Malta. Representing and demands of discerning clients. and rituals and ease your whole being into a state of reward employees for a job well done, MYOKA GIFT the Engel & Völkers brand locally, one of the profound relaxation. VOUCHERS are the perfect gift. world’s leading premium real estate companies Locally, Engel & Völkers Sara Grech is with presence in over 30 countries, has further present in a number of localities in Malta, consolidated the company’s position as prime to further improve accessibility and market real estate agents of high-end properties. reach. The company’s head office is located in Mriehel, with further offices in Attard, Globally, Engel & Völkers is specialised in the Sliema, St.Paul’s Bay and and plans sale and rental of premium residential property, to open more offices in the coming year. commercial real estate, yachts and aircrafts. Leasing, sales, consultancy and valuations form part The company’s growing team of of the core competences of a workforce of over professional estate agents is led by Sara 11,000 professionals who promote the brand’s core Grech who is the President of Engel & values of Passion, Competence and Exclusivity. Völkers Sara Grech and Benjamin Tabone Grech who is the Managing Director.

Triq in-Negozju, Mrieħel, Birkirkara +356 2347 0000 [email protected] www.engelvoelkers.com/malta

HILTON MALTA MARRIOTT RADISSON BLU DOLMEN HOTEL SALINI RESORT PALAZZO CONSIGLIA 66 ST PAUL’S & SPA St. Julians HOTEL & SPA GOLDEN SANDS Qawra Salina Bay BOUTIQUE HOTEL Valletta St. Julians Golden Bay Valletta 57 /EandVSaraGrech Triq in-Negozju, Mrieħel, Birkirkara +356 2347 0000 www.engelvoelkers.com/malta [email protected]

VALLETTA: €3,950,000 SENGLEA: €480,000 PORTOMASO: €3,250,000 COMMERCIAL OFFICE COMMERCIAL OFFICE FOR RENT TOWNHOUSE EXCLUSIVE PENTHOUSE Beautiful commercial office in Malta’s capital, Valletta. This unique property Office Spaces for lease in a business centre in Malta, situated on a main is an original construction dating back to the period of the Knights of Malta road in Qormi, just off Mriehel. The offices are on 4 floors, and range from Recently renovated town house in Senglea on the seafront and close to Luxury finished to the highest standards, exclusive penthouse for sale in and still has some original features visible including original frescos. The 550 sq mts to 800 sq mts in size. Car spaces are also available in the Gardiola Gardens, with magnificent views of Valletta from the roof terrace. the award winning Portomaso Marina complex. This stylish 3-bedroom property comprises of 17 rooms, one kitchen and two bathrooms and has underground parking garage. The block will be finished to the highest of The property is split in 3 self-catering apartments and can be further penthouse, is designed by famous local architect Ray Demicoli. It has recently been renovated to very high standards. standards. This space is ideal for corporations looking to expand in an easy extended. This townhouse for sale in Senglea is a perfect buy to rent breathtaking open Mediterranean Sea views and views over the new accessible, centrally located area. E&V ID W-02GJG5 investment in the Three Cities. E&V ID W-02F6IZ Portomaso Lagoon. E&V ID W-020O4P

SWIEQI: €1,525,000 ST JULIAN’S: €925,000 MELLIEĦA: €350,000

PENTHOUSE WITH 2 PRIVATE POOLS AND SEAFRONT LUXURY APARTMENT WITH TWO BEDROOM APARTMENT IN GĦADIRA ST JULIAN’S: €330,000

SEA VIEW TERRACE A spacious two bedroom apartment forming part of the prestigious ONE BEDROOM PENTHOUSE Development of Tas-Sellum residence in Mellieħa. The property measures Unique fully furnished Penthouse enjoying sweeping views measuring Beautiful, seafront apartment on a high floor enjoying breath taking sea approx. 146 sqms and is being sold furnished. It is situated at pool level which Bright and well laid out penthouse in this most sought for area. Modern approximately 425 sqms (630 sqms including roof terrace) and enjoying views and ample natural light. Property has been designed to perfection, makes this property ideal as a summer residence or as a rental investment. and highly finished throughout with an open plan kitchen/ breakfast/ 2 swimming pools: one being external and the other internal, a 4 car garage for that sense of picture perfect living. This practical and comfortable This property has many features including: open plan kitchen/living/dining; 2 living, double bedroom and en-suite bathroom. This is an excellent and full roof with airspace which could also serve as an entertaining area accommodation consists of an open plan kitchen, living and dining room, double bedrooms; a main bathroom, en-suite, a walk-in closet, 3 terraces as property for someone who wants to live in a very good neighbourhood with fantastic sea views. E&V ID W-02GIPZ a spacious sea front terrace, two bedrooms, luxury shower room and well as use of a communal swimming pool. E&V ID W-02EG8Y close to all amenities or as an investment property! E&V ID W-02C732 ensuite and a back balcony. E&V ID W-02FLKM

ŻEBBUĠ: €1,600,000 KALKARA: €830,000

CONVERTED HOUSE WITH POOL AND GARDEN TOWNHOUSE : €290,000 ŻURRIEQ: €310,000 Elegant, converted House of Character set on a footprint of approximately FULLY FINISHED TOWNHOUSE An exquisite Townhouse, situated in the heart of Kalkara with unbeatable PENTHOUSE WITH ROOF AND AIRSPACE 1,650 sqms with extensive external grounds and a swimming pool. views of the harbour. The property is converted to high standards and is Accommodation at ground floor level comprises of an entrance hall, Spacious penthouse being sold inclusive of its own roof and airspace. A semi furnished townhouse located in the quiet location of Żurrieq. It ready to move into. Located in a quiet area and close to all amenities, the kitchen, formal dining room, sitting room with a mezzanine, a guest toilet, Property is being sold fully furnished and ready for immediate occupation. is located close to all amenities and is ready to move into. The property property comprises of 2 double bedrooms with en-suite, a kitchen, living an internal washroom as well as a central courtyard. On the first floor Accommodation comprises of an entrance hall, spacious kitchen / living / dining, would make an ideal family home. The well planned accommodation room and dining room, a guest bathroom, a study room, a balcony in every one can find 4 double bedrooms, a dressing room, 3 ensuites, a family 3 double bedrooms, a main bathroom, 3 terraces of approximately 27 sqms, comprises of: kitchen / living / dining, sitting room, 3 bedrooms, 4 bathrooms, room a terrace as well as roof with airspace. E&V ID W-02EXKN bathroom, 2 terraces and a balcony. E&V ID W-02DXS4 roof and airspace. This property is being sold freehold. E&V ID W-02DVGG a backyard, washroom and roof top terrace. E&V ID W-02GGO3

58 59 An Alliance with purpose

ince founding RE/MAX Alliance in 2006, Michael Bonello has managed to attract some of the best talent in the industry. Along with his business partners Gordon SValentino, Paul Sammut, Angelo D’Arrigo, Duncan Stivala, Aidan Xuereb, Michael Galea, Neil Carter, Fabien Debono, Jay Jay Micallef, Warren Mejlaq, Simon Hansford, Simon Bharwani, Jeff Debattista and Brian Magri, has managed to build-up, train and motivate a growing family of over 160 individuals, now operating from ten strategically Design won’t save Gordon Attard, Ivan Bartolo, Frank Borg and Michael Bonello. located offices around the Maltese islands.

RE/MAX Alliance is built on a corporate purpose that standards are kept improving. The RE/MAX the world, that defines clear business values. These core Alliance Academy supports new sales associates. principles guide the way everyday business is It equips them with the necessary knowledge and conducted. This begins with the determination that practical and innovative performance-based skills every team member is focused on the customer’s to be effective and make a success of their career. but it damn sure wealth and peace of mind - and applies this to both his or her buyers and sellers. A transparent With a very strong operation and an professional process in line with European administration team, RE/MAX Alliance is makes it look better. standards is adopted to ensure that this level of consistently improving its business infrastructure satisfaction is delivered in every transaction. with the implementation of new technological and digital processes. These strengthen and sustain There is continual investment in people the company’s mission and vision and further innovation and the brand communication to ensure develop the growth of RE/MAX Alliance Group.

INTERIORS ARCHITECTURE BRANDING DIGITAL PRODUCT 52/1, Tigne Seafront, Sliema +356 9944 0165 / 7943 1977 a multidisciplinary creative design studio milano | malta | mumbai | ragusa www.remaxalliance.com

daaalogix.com

61 /maltarealestateremax 52/1, Tigne Seafront, Sliema @remaxmalta +356 9944 0165 / 7943 1977 www.remaxalliance.com

GĦARGĦUR: €980,000 PORTOMASO: €1,800,000 MARSASCALA: €3,250,000 VALLETTA: €695,000 HOUSE OF CHARACTER APARTMENT DETACHED BUNGALOW TOWNHOUSE Converted fully detached House of Character opposite an ODZ area, Property is built on a tumolo of land and enjoys a 100 foot façade The spacious fully furnished apartment has a welcoming entrance hall retaining all original features. The square layout comprises, on the ground Expertly converted and finished to high standards. Located in one of the most overlooking the opposite sea shore and the open sea. Layout consists of opening up to the sitting/dining room, adjacent kitchen with a lovely floor, an entrance hall with a well, large kitchen and living room, a separate sought after streets in the capital city, close to all amenities and with views an entrance hall, large bright living space and kitchen / dining area, three/ terrace looking over the marina and sea views. Further accommodation dining room and a large bathroom. All rooms on the ground floor overlook of the Grand Harbour from its roof terrace. This two bedroom townhouse four bedrooms (three of which with en suite), guest rest room, a laundry includes three double Bedrooms, two of them with en-suite, walk-in and a central spacious courtyard. On the upper floor, one finds, three double makes a perfect home or an ideal rental investment with a guaranteed 6% room and massive basement consisting of an eight car garage, gym study area. Guest bathroom and laundry room. Further complimenting this bedrooms – one with an en-suite shower room and one with a walk in return. Features a small study, two bedrooms, en-suites, kitchen/living/dining and other utility rooms. This property comes with large indoor pool and property is a underlying car space. wardrobe – a second shower room and a large laundry room leading to the complete with AC and wood burning stove, guest bathroom and kitchenette. outdoor pool surrounded by a large deck area. upper floor terrace with beautiful views of the surrounding fields.

VALLETTA: €4,400,000

KAPPARA: €1,600,000 PALAZZO MENSIJA: €1,795,000 RABAT: €1,275,000 SEMI DETACHED VILLA DETACHED VILLA Palazzo in the upper part of the City, a majestic 17th century Baroque Palazzo, TOWNHOUSE which has been brought back to its former glory, converted into 5 Luxury Service This semi detached Villa has been designed with space in mind, a unique A recently refurbished corner DETACHED VILLA finished to very high Apartments, fully operational. The Roof Garden and Penthouse suite enjoys An imposing grand double fronted townhouse situated in the best area space of elegance and style. Upon entering one finds a large reception lounge specifications consists of an entrance into an exceptionally large open spectacular unobstructed views of the Majestic Grand Harbour and the Three of Rabat with easy access. Property Comprises of a hallway with lateral and formal dining area leading onto an open plan kitchen and less formal plan kitchen/living/dining area which opens onto the pool and deck area; Cities. Strategically located, minutes away from St. John’s Co Cathedral, the Upper rooms, a grand living space, sitting and dining. At the back of the property, living which spills onto an elegant decked pool area; the ground floor also six good sized bedrooms, four bathrooms out of which two are en-suites, a Barraka Gardens and the Pjazza in front of the Castille Palace. This property is we find a kitchen/breakfast area which overlooks the central courtyard offers access to garage which leads onto a private driveway and another exit utility room and laundry room. The property also includes an abundance of offered either for residential or commercial enterprises, whilst enjoying the and pool, making it comfortable for entertaining guests. Upstairs we find 3 to the pool area. Moving onto the upper level one finds a study / living space outdoor space ideal for entertaining, a gated carport for three cars, large luxurious comfort of a gym, sauna and spa area. The Sala Nobile is ideal for bedrooms and a main bathroom, guest quarters with ensuite facilities and leading onto the master bedroom and two double bedrooms, laundry room front terrace and front porch and an underlying basement which is used events, meetings and receptions. Freehold. A rental investment in the City. also a belvedere. The property has a washroom and full ownership of roof. and guest bathroom; the master bedroom has all the comforts one would for storage and can be turned into a man cave/gym or chill out zone. Complimenting this wonderful property is a spacious 1 car garage which is look for in a space - a dressing area, an en suite shower, an open bath which street level and is interconnecting with the house overlooks the living space with views of the pool as well as a private terrace. This property includes a flat let which is interconnecting as well as having a private entrance, a cinema room and a pool/games room.

ST. JULIAN’S: €2,200,000

DUPLEX PENTHOUSE SENGLEA: €535,000 ATTARD: €495,000 This wonderful home enjoys a unique layout including an impressive entrance HOUSE OF CHARACTER hall leading into a formal dining and sitting room, with solid hardwood flooring. TOWNHOUSE There is a huge deck area with heated swimming pool, an al fresco sitting room PENDERGARDENS: €990,000 and chill out area as well as an extensive sun bathing and al fresco dining area. The property enjoys some typical Maltese features such as arches, a Inside is a large fully fitted and equipped kitchen, an additional family sitting PENTHOUSE spiral staircase, well, wooden beams, an original cellar cave and original Highly finished gorgeous typical Maltese Townhouse located in this quaint room / television room with an oversized TV with cinema sound, an informal tiles which are well maintained. Layout consists of: on the ground floor an village and enjoying loads of sunlight. Accommodation comprises of a family dining room, study and pantry/storeroom. Upstairs the property includes A beautiful designer finished PENTHOUSE in Pendergardens is now entrance hall, study with a sofa bed for guests with its own door on the lovely open plan sitting/dining with many original features and high ceiling, three large double bedrooms all with en-suite bathrooms. The master bedroom available for sale. It is a very spacious three bedroom penthouse with street, guest shower, an internal yard and a cellar. On the first floor one fully fitted and equipped kitchen, guest toilet, spacious main bedroom with features a huge walk in dressing room, Jacuzzi bathroom and sauna/steam openly planned and well zoned kitchen/dining and big inviting living room, finds a kitchen leading to an internal terrace, a separate living/dining and Maltese balcony, living room which can easily be converted to a bedroom, shower system. Similar facilities are found in the second bedroom and study, main bathroom, shower en-suite in the main bedroom and over 60sqm of a guest toilet. On the third floor there is the main bedroom and the main shower room, back terrace, a typical Garigor leading up to a laundry/ whilst the third bedroom also enjoys an additional private sunbathing terrace. outdoor space offering the all you need outdoor furniture. Also included in bathroom. On the roof level one finds another double bedroom and the kitchenette leading to a lovely roof terrace perfect for entertaining. Air An additional storeroom if found on the upper level. A further landscaped the price is a car space. rooftop terrace where one can enjoys views of the Marina. conditioned, CCTV, Alarm System, Travertine floors and also an original well. Viewing is highly recommended. wraparound terrace and a 4-car private lock up garage are also included. 62 63 The QuickLets and Zanzi Homes journey

ince 2013 when co-Founder and CEO Over the years as more growth materialised, new Steve Mercieca identified a gap in the brands such as OfficeFinder.com.mt, specialising in Maltese property market, QuickLets the rental of upmarket office spaces were introduced and Zanzi Homes have managed to and the QLZH Group we know today was formed. Sreshape the property market in Malta through Steve’s magnetic personality and infectious drive to the use of advanced technology, whilst do good things well, created the opportunity to start creating very successful businesses built on franchising the brands. The requirements to open a diversity, inclusion and a modern mentality. QuickLets and Zanzi Homes branch were simple; grit, motivation and a desire to give back to the community. Both companies are known for pioneering As one branch after the other started sprouting around virtual reality and 3D technology to promote Malta, the QLZH Group had another accomplishment their portfolio of properties and QuickLets was to add to its list. Six years down the line, our clients also the mastermind behind the Virtual Agent can be serviced by a team of over 350 property referral scheme here. Steve also wanted to define specialists through a network of thirty branches. his company’s operations by also giving back to the planet and the less fortunate amongst More information about the Group us with a clear philanthropic mentality that can be found at www.qlzhgroup.com later developed into the QLZH Foundation. and www.qlzhfoundation.com.

Standard House, Birkirkara Hill, St. Julians STJ1149 +356 2010 8777 [email protected] www.zanzihomes.com

65 Standard House, Birkirkara Hill, St. Julians STJ1149 157A, Triq it-Torri, Sliema +356 99218666 +356 2010 8666 / +356 99623041 [email protected] [email protected] www.zanzihomes.com www.ql.rent

SLIEMA: €3,000/month

SEA-FRONT APARTMENT MANIKATA: €740,000 : €900/month Located in one of Malta’s most sought-after areas is this lovely two- PENTHOUSES HOUSE OF CHARACTER bedroom apartment which enjoys breath-taking views of Malta’s capital city, Valletta. Situated on the seafront, this apartment is close to lots of bars, restaurants, shops and supermarkets just a stone’s throw away. Great opportunity to purchase a one of a Kind Penthouse with walking distance to beautiful greenery . Property consists of an entrance to a squarish layout This converted house of character, has been beautifully refurbished and st Comprises a bright and spacious living area that leads to the terrace with open plan Kitchen / Living /Dining and a separate lounge area enjoying a front terrace with unobstructed views. Following are three bedrooms, two bathrooms brought into the 21 century. This property is designed on a split level and almost unparalleled views. Walking past the living room one finds a long Main with ensuite. the Penthouse is sold Fully furnished including airspace and two car garage included. Finishes; gypsum finish, bathroom and tiling from is full of charming features such as original stone walls and arches. The corridor that leads to a separate kitchen, washroom with tumble dryer, a Satariano, UPVC Aluminum, granite stairs , facade and back insulted. Property to be sold Freehold and served with lift. Ref 37891 designer bathroom has a high-pressure rainfall shower and the kitchen is all in built to maximise the use of space and comes fully equipped. Located study (that can be converted into a third bedroom), main bathroom and close to the ferry service connecting Cospicua with Valletta in 5 minutes two double bedrooms (main with en-suite). Property is fully airconditioned — this property is ideal for anyone working in the Capital and looking for and has a fully equipped kitchen with dishwasher. Optional car space that affordable stylish accommodation. Perfect for an individual or couple. All fits 2 cars and is interconnected at €100/m. Ref. 21362 in all, a great find!Ref 43884

MELLIEĦA: €1,950,000 SLIEMA: €1,600/month XEMXIJA: €450,000 SEMI-DETACHED VILLA TA’ XBIEX: €1,300/month APARTMENT APARTMENT This wonderful villa is located in the cosy corner of Santa Maria Estate. APARTMENT Wake up feeling rejuvenated in the tranquil bedrooms of this eclectic This luxurious villa consists of three double bedrooms, four bathrooms, Designer finished Maisonette being sold fully furnished and cover a total home. The space features contrasting furnishings and decor, spacious, kitchen, massive open space that leads onto an outstanding open terrace. foot print of approximately 240 m². Property consists of an entrance hall This lovely spacious new two-bedroom apartment comprises of an open bright and beautifully designed this apartment is the perfect base to All rooms enjoy natural light and with a designer finish. Internal size of leading to a formal living / dining, separate fitted kitchen main bathroom, plan kitchen, living, dining area. It also has a one double bedroom with en- come home to. Perfectly located just minutes away from the sea and is the property is 418sqm. The lovely outside area consists of a terrace, boxroom, three double bedrooms main with en-suite shower, spacious suite, two single bedrooms, a bathroom, balcony and is fully airconditioned surrounded by shops restaurants and cafes. This stylish boutique home is pool, jacuzzi, sauna and much more. Property must be seen to be fully back yard with ample space for a splash pool, front garden and including a and also Wi-Fi and IPTV are included. This property is also close to all your beautifully furnished with charming features such as high ceilings, floor to appreciated. Ref. 37710 one car lock up garage included in the price Ref. 37736 daily needs. Must View!!! Ref. 42245 ceiling windows and lots of natural daylight. Ref. 41252

66 67 by the knights when constructing their Auberges in Birgu. The building acted also as the Inquisitor’s palace and remained the official seat of the bishop up to the mid-17th century, playing an important role in the political development of the island during the rule of the Order of St. John.

Sliema

Grade 2 buildings. The one in is a Although these properties have been late 19th-early 20th-century villa while protected for their collective value, Sliema that of is a rural building on each one has individual merits for the outskirts of the village. The villa, in scheduling, often having peculiar Triq Annibale Preca, is constructed in features on the facade and interior that an eclectic romantic style with Gothic distinguish them from other buildings. revival elements. The villa is enclosed

Balzan by a high garden wall furnished The properties also have with crenelations and turrets. common features that are traditional Protecting our heritage characteristics of buildings of this An 18th century corner townhouse in particular period. Most of these THIS YEAR ANOTHER SIXTY-ONE RESIDENTIAL BUILDINGS WITH SPECIAL HERITAGE FEATURES was also given protection status. buildings, especially those in Triq HAVE BEEN GIVEN PROTECTION STATUS BY THE PLANNING AUTHORITY. The property, in Triq il-Providenza corner il-Palazz Capua all have a good sized with Triq it-Tliet Knejjes, is characterised back garden that is traditional of by two high storeys having a very rare these types of buildings. Evidently, number of residential townhouse and is being converted into high baroque/rococo ornate open stone these buildings were commissioned buildings considered to have a house museum. Dr Enrico Mizzi, better corner balcony supported on seven by prominent patrons designed by special heritage features known as Nerik Mizzi, after the 1950 finely sculpted scrolled triple corbels. celebrated architects and built by some have been scheduled by elections, was asked to form a minority The building was the residence of the of the finest masons and craftsman Lija theA Planning Authority as Grade 1 or 2 government and in September 1950, he Spanish knight Fra Giacomo Rodrigues, in the Maltese Islands at the time. buildings. The architectural and historical became Prime Minister, only to die three who is buried in St John’s Co-Cathedral. Bormla significance that these buildings carry months later at his residence in Valletta. Over the past years, the Planning vary in both their historical period as In Triq d’Argens, Gżira, a double front In Triq Stella Maris and Triq il-Palazz Authority through the Irrestawra Darek well as location. In consultation with the In , the Authority protected an exceptional decorated Baroque dwelling built in the interwar period Capua in Sliema, the Authority scheduled scheme has provided generous financial Superintendence of Cultural Heritage, a property in Triq il-Kbira which is a double-front was scheduled as a by architect Prof. Joseph Colombo, as fifty-two town-houses. Almost incentives to assist property owners the Authority this past year gave special typical 18th century single-storey palazzo Grade 2 property. In Birgu, two other his private residence, was given Grade untouched, the properties situated in the of Grade 1 & 2 residential scheduled protection status to sixty-one residential having a main central entrance overlain residences have also been scheduled 2 protection status. The elevation heart of Sliema, exhibit a combination of buildings to upkeep their property’s buildings to ensure that the architectural by an open stone balcony. Internally, — the original Bishop’s palace and of this building is exceptional in the neo-classical and neo-baroque design unique architecture and heritage value. and historical value that these properties the property has a lavishly decorated an imposing austere Baroque three- way that the traditional townhouse and display a collective value since they have is retained and celebrated. entrance hall with frescoes and ornately storey palazzo, possibly dating to the is reinterpreted in a modernist style form part of a row of similar buildings sculpted garden door. The central 16th century in Triq Hilda Tabone. making use of strong geometric motifs. that have the same height, design, In the capital Valletta, the Authority garden includes a number of structures The townhouse was shortlisted for the proportions, materials, style and massing. Supported by gave the highest protection status to generally datable to the modern period. The Bishop’s palace which dates first architectural awards held in 1936. the private residence of Dr Enrico Mizzi back to 1542, retains late medieval and The properties were all built in the which is located in Triq San Ġwann. The In Triq San Pawl, Bormla, a three- mannerist architectural features and In Lija and Naxxar, two other same period spanning the late 19th residence is a typical 17th century Valletta storey townhouse characterised by is similar to the architecture adopted residential properties were declared century up to the mid 20th century.

68 69 Healthcare services IN MALTA

AT 81.9 YEARS, LIFE EXPECTANCY IN MALTA IS AMONGST THE HIGHEST IN EUROPE AND THE POPULATION SPEND ON AVERAGE 90% OF THEIR LIFESPAN IN GOOD HEALTH, LONGER THAN IN ANY OTHER EU COUNTRY.*

PUBLIC HEALTHCARE

Public Healthcare in Malta operates through public hospitals, health care centres and pharmacies and all Maltese nationals and international people employed and paying social security contributions in Malta, are entitled to use the public health system free of charge. Citizens of countries with reciprocal health care agreements with Malta and persons who enjoy freedom of movement in terms of article 44 of the Constitution of Malta are also entitled to free healthcare. The same entitlement diseases, nervous system diseases, PRIVATE HEALTHCARE applies to international students of the renal diseases, endocrine diseases, University of Malta, the Malta College Private healthcare offers more skin diseases, infectious diseases, of Arts, Science & Technology and individualised care available through rheumatic diseases, metabolic disorders, the Institute of Tourism Studies. several private hospitals and clinics eye diseases, immunodeficiency Mater Dei is the main acute general that offer more instant and on-demand and chromosome disorders. teaching hospital located in medical care. These include day surgery and Gozo is catered for from the Gozo and outpatient services, lab testing, PHARMACIES General Hospital located in Victoria. dentistry, opticians, dermatology, Other public hospitals include Boffa endocrinology, gynaecology, obstetrics There are more than 200 pharmacies – a specialised hospital for Oncology, and diagnostics. Cosmetic interventions across Malta and Gozo, with many of Palliative Care and Dermatology, and surgeries such as depilation, them providing general practitioner Mount Carmel mental Health Hospital, breast implants, facelifts, tummy services from in-house clinics. With our vast portfolio of properties all across the Maltese Karen Grech Rehabilitiation Hospital tucks or rhinoplasty are also available Pharmacies open on normal retail archipelago and in special designated areas. and St Vincent De Paul – a long term through private healthcare providers. hours and a roster is published listing residence home for the elderly. specific pharmacies that are open on any given Sunday or public holiday. MEDICINE HEALTH CENTRES A GUARANTEED HIGH RETURN ON YOUR INVESTMENT! Essential medicines are free of eHEALTH Besides GP and nursing services, charge for low income households INFRASTRUCTURE various specialised health services and persons who suffer from chronic are provided through a network of illnesses are also entitled to receive Malta’s myHealth service enables Health Centres located in Mosta, free medicine. These include malignant, patients and doctors to access Rabat, Birkirkara, Floriana, Gzira, cardiovascular, and respiratory diseases, electronic medical records in Qormi, Paola and Cospicua. diseases of the digestive system, liver primary health care, e-prescription and nervous system, haematological services and patient registries. (+356) 7929 7929 [email protected] damcarproperties.com *Source: State of Health in the EU - Malta Country Health Profile 2017 (+356) 2729 2929 70 TAX RESIDENCE STATUS Malta as an investment & PERSONAL TAX Tax residency is not automatic to anyone obtaining permanent residence in Malta. Persons spending sufficient migration destination time or intending to reside indefinitely in Malta, despite not spending their 183 RESIDENCE AND CITIZENSHIP BY INVESTMENT PROGRAMMES day in that year, are eligible for personal tax residence status. Tax residence non-domiciliaries are not chargeable MALTA (MELITA, OR ‘HONEY ISLAND’, IN LATIN) HAS ALWAYS BEEN KNOWN FOR ITS INTENSE to tax in Malta on a worldwide basis. CULTURAL HISTORY, CRYSTAL-CLEAR WATERS, WELCOMING LOCALS AND EASE OF Instead, they are taxable only on INTEGRATION. GLANCING AT THE ISLAND’S PICTURESQUE LANDSCAPE AND RICH CULTURAL income arising in Malta and on some HERITAGE, IT’S EASY TO UNDERSTAND WHAT HAS ALWAYS ATTRACTED A STEADY STREAM OF capital gains arising in Malta (several TOURISM, EXPATS AND FOREIGN WORKERS TO OUR SHORES. are exempt). They are only subject to tax on foreign source income if such applicant also uses this year to Individuals and family members who income is received / used / enjoyed in establish a genuine link with Malta by receive Malta citizenship by investment Malta. Foreign source income staying familiarising with the island’s social and have identical rights to those enjoyed ot to be underestimated and security. Malta presents a robust, Residence permit allows family members outside Malta as well as any foreign philanthropic scenes, and by exploring by all Maltese citizens. Persons born is the importance and EU-compliant regulatory framework, to remain out of Malta if tied up in source capital gains even if remitted opportunities for financial planning, to new Maltese citizens after their attractiveness of English a diverse financial ecosystem, a pro- schooling, work or business. It also allows to Malta, are outside the scope of tax. asset structuring, investment and naturalisation are automatically eligible being the widely and business attitude and a deep talent pool families to visit as often as convenient business presented by this vibrant for Maltese citizenship as persons born Nfluently-spoken official language of benefitting companies from around and allows them to move to Malta for long member state of the European Union. of Maltese parentage. Under European CITIZENSHIP: MALTA’S Malta alongside the Maltese language. the world to tap into opportunities stays or even permanently when required. Union law, persons holding citizenship INDIVIDUAL INVESTOR The island’s connectivity allows ease for doing business on the island. Family applications are allowed and of an EU member state are citizens also PROGRAMME of travel around the European Union, As holders of Malta’s Permanent may include the main applicant’s spouse of the European Union, and accordingly, and has appealed to people from all Residence permit enjoy visa-free or long term partner, financial dependent Maltese citizens enjoy all European PERMANENT RESIDENCE: walks of life who have decided to make access to the 26-member states Through the Individual Investor parents and grand parents of the main freedoms to live, study, retire, work, do THE MALTA RESIDENCE Malta their home or business base. forming the Schengen Area, the permit Programme, Malta seeks to attract applicant and of the spouse, as well as business and invest in any of the 28 & VISA PROGRAMME is particularly popular with executives skilled, successful, entrepreneurial, dependent, unmarried children under 27. member states of the European Union. Malta enjoys a stable political climate and entrepreneurs who make frequent talented and well-networked persons and a bi-partisan political scene that is The Malta MRVP Residence Programme business trips to Europe. Likewise, by inviting affluent individuals and largely convergent on issues of national, grants eligible Investors permanent academics and professionals can families to apply for Maltese citizenship financial and economic importance. residency for life for all the family. attend conferences and lectures by investment. Applicants undergo During the 2007 crisis, Malta’s economic in Europe without the bureaucracy a due diligence process verifying resilience enabled it to join Germany The programme allows of prior visa applications that often their good standing and reputation.

as the only two states in the Euro Zone self-sufficient families to settle render such travel rather stressful if Upon successful completion of due Dr Jean-Philippe Chetcuti maintaining economic growth. Malta has permanently in Malta at any time, without not impractical. Investors have taken diligence, investors receive a Letter of Senior Partner, Global Residency & Citizenship cultivated a healthy economic landscape requiring any minimum presence. This a liking to Malta for its pro-business In Principle Approval, clearing the way Dr Chetcuti advises some of the world’s having registered a 6.6% GDP growth in means that the Maltese Permanent approach and favourable tax system. for the individual or family to make most affluent business families and has 2017 and the European Union’s second the non-refundable contribution of contributed to the shaping of residency and highest growth in 2018 at 6.2%. Year €650,000 to the National Development citizenship programmes around the world on year, credit ratings by the various and Social Fund, other qualifying The Malta Citizenship Programme reflects through his government advisory work. international credit rating agencies have investments and any rental or been kind to Malta. In 2019 Moody’s the island’s family values and lays down purchase of a property in Malta. Chetcuti Cauchi is an international firm, with offices in Malta, Cyprus, upgraded Malta to an A2 rating, Fitch generous rules for inclusion of spouses, London, Zurich and Hong Kong, advising high net worth international rated Malta at ‘A+’ and DBRS ‘A (high)’. During the 12 months leading families and their businesses on corporate, tax, property, residency children, parents and grandparents of to citizenship, the applicant family & citizenship, financial services, fintech, yachts and jets. Malta’s steady rise into the business enjoys Schengen Residence while investors in a family application, subject +356 2205 6604 [email protected] | cclex.com ranks of Europe has been driven mainly the application is being processed by its reputation for stability, predictability to significantly reduced contributions. (4 – 6 months to approval). The

72 73 Mellieħa. Photo by Zoltan Gabor. Apple co-founder Steve Wozniak launches his blockchain-based company Efforce in Malta, with Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri looking on. Photo Courtesy-DOI.

ne main factor contributing on blockchain. Similarly, we have seen to this environment is a numerous Malta-based and founded strong and diverse human software companies developing software resources pool. With the solutions for the international market due Ocountry attracting thousands of foreign to their competitive advantage in terms professionals seeking opportunities in of talent, skillsets, language and pricing. its growing economy, the country has a mixture of Maltese and International Furthermore, the island has shown talent that has created a breeding ground extremely high interest in the field of IoT for technological innovation investment. ever since the term has been coined. A Another certain contributing factor is number of conferences and seminars the government’s policy to spearhead have already taken place in Malta on technological advancements by taking the topic, and many organisations are positive measures such as making investing in research and development in all public services available online. this field. Several iconic IoT pilot projects have been launched in Malta, both in the Malta not only embraces technology private and public sector, including traffic as if it were something that it has to and parking management systems. On Where accept, but it has forged its reputation as a different note, Malta has in the recent a pioneer on various occasions in several years seen a significantly high investment fields of technology. Rather than seeing in strategically located, state of the art its own small size as a limitation, Malta has data centres which are trusted by local turned this in its favour and positioned and international corporations, facilitating technology itself as an excellent location for testing other technological advancements. projects, with many innovators and investors favouring Malta as their selected While the country seems to be location for pilot projects and start-ups. peaking in its technological achievements, there is no sign of it slowing down in thrives The island has been a forerunner terms of ambition. One can only expect on various occasions, especially when more pleasant surprises from this MALTA, AN ISLAND ONCE KNOWN ONLY FOR ITS GLORIOUS HISTORY AND THREE HUNDRED it comes to disruptive technologies, small EU member state. The country DAYS OF SUNSHINE, BEACHES AND GREAT HOSPITALITY, IS NOW ESTABLISHING ITSELF AS A such as blockchain and IoT. A fine seems to tick all the boxes and have KEY PLAYER, EVEN AMONG GIANTS, AS A COUNTRY THAT HAS THE RIGHT ENVIRONMENT AND example of such pioneering is Malta’s all the ingredients necessary for ECOSYSTEM TO CULTIVATE, ENCOURAGE AND EMBRACE TECHNOLOGY. successful attempt at becoming the first technological progress to flourish, and

Words by Alan Darmanin [email protected] country to put education certificates this augurs very well for the future.

76 77 Monaco €,5

UK €1,179

rance €1,796

Russia €11,866

Austria €11,559

Switzerland €11,76 Norway €8,81 Average property Sweden €6,911

Netherlands €6,90 inland €6,609 prices in Malta Italy €6,589 HIGHER THAN CYPRUS BUT Czech Rep. €6,505 STILL LOWER THAN MONACO Germany €5,907

Spain €,978 eople who have never visited Comparisons are odious, but our

Luxembourg €,605 Malta and Gozo cannot international readers will find this chart be blamed for mistakenly useful for some insight of how average Turkey €,581 likening it to Cyprus. Both are property prices in Malta compare to PMediterranean islands very popular those in the rest of Europe. This Global Malta €,576 for tourism, both have immensely Property Guide data is based on research Denmark €,79 interesting histories dating back derived from systemic web scanning Portugal €3,830 several millennia and both gained of advertisements for apartments and their independence from the dominion house sales and rentals. Properties Slovenia €3,657 of the British Empire in the 1960s; are in excellent condition with good Greece €3,619 but that is where the similarities facilities and have been refurbished or end. The total land area of Cyprus is redecorated within the last five years. Estonia €3,190 about thirty times larger than that Newly built and pre-sale property prices Belgium €3,171 of Malta and there are roughly twice are not included in this research. The data Andorra €,915 as many people as Malta living in for Malta is derived from the April 2018 this relatively very vast land. So, the listing on a private property market index Slovak Rep. €,911 real estate economics between the and should be seen only as guidelines. Ukraine €,807 two countries are incomparable. The Housing Affordability Index Poland €,793 Then there is the principality of Monaco commissioned in 2017 by the Malta Latvia €,789 on the Mediterranean coast of the Developer’s Association and carried out French Riviera. This micro-state is by KPMG, found an average asking price Hungary €,515 absolutely miniscule with just two per square metre ranging from €1,595 for Serbia €,39 square kilometres of land making it the Southern part of the island to €3,920

Lithuania €,163 158 times smaller than Malta, which for properties in the Grand Harbour is by the way, the smallest country and the North Harbour regions. Croatia €1,978 within the European Union. Monaco is Cyprus €1,678 amongst the most glamourous places Average prices per square metre to live in Europe due to its location, size of a 120-sqm apartment located in Bulgaria €1,663 determined exclusivity and historic the centre of the most important Romania €1,591 circumstances that brought Grace Kelly city of each country, which is to marry Prince Rainier and attracted either the administrative capital, Montenegro €1,00 the Greek shipping magnate Aristotle the financial capital or the centre North Macedonia €1,13 Onassis, who went on to change of the property rental market. the Principality’s fortunes forever. Moldova €965 Source: Global Property Guide

Sliema. Photo by Alex Turnbull. 78 79 MALTA PROPERTY ANNUAL 2019/2020

Issue 1 — October 2019

The Malta Property Annual is a print and digital media COVER IMAGE publication that aims to be the definitive guide for international people interested in buying property in Malta. Valletta skyline as seen from Marsamxett Harbour. It is distributed internationally at property shows and Photo by Alex Turnbull. events and at selected Malta embassies, diplomatic offices and on trade missions. In Malta it is found at Government offices and at estate agents and property companies, The Malta Property Annual is owned and published by hotels and similar locations. Logix Creative Ltd. and is being produced in collaboration with the Property Malta Foundation. Selected content from this publication may be found online at www.propertymalta.org Stay on top For all enquiries please contact: [email protected], Thank You call +356 2138 3557 or write to: The Malta Property Annual production team would like Logix Creative Ltd., Centris Business Gateway, Level 0/C, to thank Property Malta Foundation for their trust in this of your game Triq is-Salib ta’ L-Imrieħel, Zone 3, Central Business District, project, and all our contributors, friends and collaborators Birkirkara, CBD3020, Malta. who have made this publication possible. Logix Creative Production Team Executive Director: Pierre Mizzi Operations Support: Cecilia Portelli Production Assistant: Mariah Pace At First Car Rental we offer leases to suit your needs, Property Malta Board Editorial Lead: Iz Collins Design & Photography Lead: Jean Claude Vancell whether you’re here for a few days or more. Illustration: Olga Semkło Additional Design: Elsa Allen Senior Webmaster: Alexia Cortis Sandro Michael Michael Steve Web Designer/developer: Steven Camilleri Chetcuti Stivala Bonello Mercieca Choose from the vast range of latest makes Benefit from free airport parking Accounts Admin: Shirley Manduca and models out of brand new fleet of vehicles and car wash whenever you travel Accounts Assistant: Katia Scicolone Printing: Gutenberg Press - Malta

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80 MALTA PROPERTY ANNUAL 2019/2020