MIDI plc - Update on the Impact from ‘COVID-19’

On 25 March 2020, MIDI plc announced that it is monitoring the developments related to the global spread of the ‘COVID‐19’ and how this will impact its operations. In this respect, MIDI explained that the results for 2020 will be impacted as it apparent that the pandemic will have a negative outcome on the sale of the residential units the company holds as stock.

In terms of progress on the company’s ongoing projects, both the Manoel Island Masterplan appeal process and the ‘Q3’ residential block full development application process have been halted as the sittings of the Environment and Planning Review Tribunal and the Planning Authority Board have been cancelled until further notice. This will inevitably mean a delay in the commencement of the development works for both projects.

Comments are closed.