MEPA approves nine-storey tower block and two 14-storey residential blocks consisting of 102 apartments and catering outlets at ground floor.
The Malta Environment and Planning Authority has approved the construction for MIDI's Tigné Point's T-14 tower block, and two 14-storey residential blocks, comprising just over 100 apartments.
The decision was taken at a public hearing, where objections were raised by members of conservationist NGO Flimkien Ghal-Ambjent Ahjar, who claimed the plans were changed without any opportunity for the public to see them.
MIDI's decision to withdraw an application for a massive high-rise tower in Tigné was accompanied by a request by the same company for MEPA to process two other applications for the construction of two high-rise, albeit smaller developments.............
Follow this link for the full article on MaltaToday.
Thursday, January 19, 2012
Government launches new temporary ground rent redemption scheme
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 are exempt from this condition.
If, within 20 years, such residences are demolished to be replaced by flats, the government would charge between 10 and 25% on the profit.
Dr Azzopardi said a similar scheme was launched in 2001 and 5,500 applications were made, of which 3,400 have now been processed.
Source: timesofmalta.com Jan 19,2012 12:04
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 are exempt from this condition.
If, within 20 years, such residences are demolished to be replaced by flats, the government would charge between 10 and 25% on the profit.
Dr Azzopardi said a similar scheme was launched in 2001 and 5,500 applications were made, of which 3,400 have now been processed.
Source: timesofmalta.com Jan 19,2012 12:04
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