Increase in construction activity to result in vast quantities of construction-waste which would increase pressure to use this material for land reclamation projects which will only be viable if more apartments are built on reclaimed sea.
The nine-mega developments in Paceville are expected to create between one and two million cubic metres of construction waste - more than the total amount of construction waste dumped in a single year.
The amount could increase further with the excavation of a tunnel proposed under regional road earmarked for after 2018.
Altogether, the nine Paceville developments included in the master plan will create 1.17 million square metres of new ground space set on different floors-which is nine times that of the combined Mriehel and Sliema towers approved by the Planning Authority in August.
The two projects - which have a combined gross floor area of 135,149 square metres - will together generate 276,115 cubic metres of excavation waste.
Although a direc…
The Housing Authority is subsidising the sale of over a hundred apartments, garages and nine maisonettes, spread over a number of localities; however no further information is currently available on the authority's website.
Meanwhile, The Times of Malta is reporting the expected average price for a 3 bedroom apartment to be €83,000 while a 3 bedroom maisonette will fetch in the region of €92,000. There is no specification as to whether these prices are for the shell form, advanced shell, or finished product. Current property sales will now have to vie with these benchmarks when competing for first time buyers on the Maltese property market. Already, many are questioning the rationale of building further units on this island, when a large percentage of Maltese properties are lying vacant.
Update 25th May 2010
The Housing Authority is extending the closing date for applications for the sale of government apartments and maisonettes up to June 11.
The government this morning announced a new scheme which will enable tenants to redeem temporary emphyteusis in residential properties administered by the Joint Office and the Lands Department.
Government properties minister Jason Azzopardi said this would benefit hundreds of households, who would finally be able to become owners of their homes.
He said the new scheme opens on February 20 and will run for six months. It will enable the tenants to redeem their groundrent at very favourable rates.
Those who currently pay less than €5 per year as groundrent will be able to redeem their groundrent for €1,000.
Those between €5 and €10 per annum will be able to redeem for €2,000 and those currently paying between €10 and €20 per year will redeem for €3,000.
There are two conditions. If a property is sold within five years from when the groundrent is redeemed, the governemnt will be entitled to 25% of the price of the property. Disabled people, separated couples and those over 65 years old…