PG plc - Update on Shopping Mall Investment

On 15 September 2025, PG plc provided further details regarding the project being undertaken through the Group’s 60% shareholding in DB Gauci Shopping Mall Limited, which holds a promise-of-sale agreement for the temporary sub-emphyteusis of a property comprising a proposed shopping mall as well as car park spaces, which are all currently under construction on the site of the old Institute for Tourism Studies at St George’s Bay, St Julians. The company stated that it is appropriate to provide an update since the project reached a more advanced stage and there is the evident intention of the parties to enter into the final deed of sub-emphyteusis.

PG explained that the project is expected to be finalised in 2026 and includes the development and eventual operation of a shopping mall accommodating a range of retail outlets, a PAVI-PAMA supermarket, various catering establishments, together with a car park facility designated for use by patrons. PG noted that this investment forms part of the Group’s growing portfolio of retail-centric destinations in Malta and is expected to contribute to the further strengthening of its property asset base and business.