PG plc - Acquisition of Property

Monday, February 5th, 2018

On 5 February 2018, PG plc announced that its fully-owned subsidiary PG Developments Limited acquired the property that is commonly known as the “United Macaroni Factory” which is located in Qormi Road, Marsa. The property covers an area of around 3,200 sqm and the value of the transaction is €3.5 million, of which €1 million has already been paid whilst the remaining balance of €2.5 million will be paid in tranches within the next 30 months.

PG intends to develop this property into commercial premises, principally consisting of office space for rent. Development applications are expected to be submitted to the Planning Authority in the near future.

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