Malita Investments plc - Amendment to Emphyteutical Concession

On 1 November 2023, Malita Investments plc announced that it successfully extended the Deed of Emphyteusis of sixteen properties by a further eight years. The previous agreement with the Housing Authority had been for twenty-eight years commencing on 29 December 2017. The new arrangement will now have a total term of thirty-six years, lasting until the end of 2053.

Furthermore, Malita announced that it rescinded the temporary utile dominium over an 841-square-meter site in Żebbug as its development was not commercially feasible. The rescission will result in a corresponding reduction in ground rent.