This is the first time that there will be a significant Malta presence at Cityscape Global, why have you decided to use this platform and what is your aim with participating?
The Property Malta Foundation is a public-private initiative set up last year with the main aim of promoting Malta’s lifestyle identity and to position the country as a leading destination of choice for everyone interested in purchasing property in the Mediterranean.
Participation with a Malta Pavilion at property shows is one of the activities that we do towards achieving these goals and our research identified Cityscape Dubai as one of the premier events of its kind in this region at this time of the year. Apart from promoting everything that Malta has to offer in terms of lifestyle and culture, we are also presenting some of the best developments that are currently on offer for residence or investment objectives and have with us, experts in tourism and advisory on setting up business in Malta.
What factors make Malta ideal for real estate investment?
Malta is a Republic island state, member of the Commonwealth of Nations and the European Union, that is presently undergoing unprecedented economic growth and development in various sectors.
The country enjoys a temperate Mediterranean climate and has been voted to be amongst the safest in the world. Political stability and economic prosperity are attracting thousands of new residents annually, and in recent years, an attractive tax regimen and targeted incentives for specific sectors, as well as residence programmes for high net worth individuals have made Malta even more inviting. This is being reflected in the growing demand from international buyers for residential as well as commercial real estate across the country.
With just over 300 square kilometres (120 square miles) of land area and substantial population growth, the country has a finite supply of quality real estate with investment returns that compare very favourably with anywhere else in Europe. It is all this that ensures that Malta remains a sound real estate investment for today and in the future.
What are your government’s plans when it comes to driving foreign real estate investment into Malta? Are there any incentives or recent amendments to the investment laws?
Historically Malta has always attracted foreign investment mainly directly or indirectly through its geographic location – tourism, international transhipment, ship repair, maritime and aviation services have flourished. More recently, international businesses in financial services, remote gaming and creative industries have been attracted to invest in Malta; and looking into the future, new areas such as cryptocurrencies and blockchain are now being developed.
The country offers various attractive incentives to foreigners, which have drawn tens of thousands of expatriates to settle in Malta over many years. In 2014, Malta introduced the Individual Investor Programme, which allows for the granting of Maltese citizenship to any foreign individuals and their families who contribute to the economic development of Malta and meet the requirements of the programme. These and many other incentives are driving foreign real estate investment into Malta like we’ve never seen before.
For international investors reading this, what are some of the most attractive real estate investment opportunities available to them and what advice would you give to investors looking at Malta now?
On the Malta Pavilion at Cityscape 2018, we are presenting four of the top estate agents in Malta who can introduce all kinds of properties in Malta and Gozo to interested buyers. These are Ben Estates, Island Properties, Remax Alliance and Zanzi Homes. We are also showcasing some of the best opportunities in five major developments, namely:
DB Tower – Located in the Golden Mile, overlooking the Valletta skyline with magnificent views of the Mediterranean, the db Tower and its 162 luxury residences is set to be an iconic statement in every sense.
Mercury Towers – a unique 31-storey Tower in St. Julians, designed by the internationally renowned Zaha Hadid Architects to mix historical with ultramodern.
MIDI – The award winning Q2 waterfront apartments and The Centre, a new state-of-the-art office block forming part of Tigné Point in Sliema.
The Quad – An exciting development with four tower blocks of commercial floor space surrounding a central piazza located at Central Business District.
Townsquare – A luxury mixed-use development in the heart of Sliema – Malta’s prime location for business, shopping and living.
Our objective is to offer a comprehensive presentation of Malta and for this reason, apart from these property experts, we also have with us specialists on Malta’s Residence and Visa Programme, from Wahaat and AMK Advocates. The Malta Pavilion at Cityscape is supported by the Malta Tourism Authority and the economic development agency Malta Enterprise, to offer support and advice on travel and tourism opportunities as well as doing business in Malta.
We are very excited to bring this group of more than sixty people together from Malta to Dubai to offer advice on the many opportunities Malta has to offer right now.
Looking at an outlook what is your long-term vision for the development of Malta?
We are very fortunate to have leaders in politics and industry, that seek to develop and diversify Malta’s economy to ensure sustainability, and our future looks bright. The Maltese government is currently executing an ambitious programme of infrastructural modernisation, which we hope to see spurring more private investment in for example, fixing up of traditional homes in our towns and villages.
There is not one singular vision for the development of Malta but a collective effort to celebrate our prosperity with sustainability for future generations. Whilst building our reputation, we aim to promote our main advantages as one of the most successful economies within the EU.
We bring you Malta with pride and invite you to come and meet us today.
