Ritratt: Miguela Xuereb
The Foundation for Affordable Housing announced on Saturday that it received 11 bids from 7 private contractors for its plans to build 260 new apartments which will be sold at below market value.
The scheme by the foundation, which was established by the government and by the Archdiocese of Malta – would see developers provided with land in return for building apartments which would be sold at prices approximately 30% below market value.
It was criticised by the Malta Developers Association, which in turn attracted criticism of its own from defenders of the project and its aims.
Notably, however, joining in the criticism was Nationalist Party MP Albert Buttigieg, a former Housing Authority CEO who has routinely criticised property developers and their interference in Malta’s politics.
PN MP insists affordable housing scheme designed to profit select developers
Buttigieg argued that the manner in which the scheme was designed would provide greater profits to select developers than were due, stating that the 30% discount to low-income families did not account for the full cost of the land the developers would benefit from.
In any case, the four sites in which approximately 260 apartments will be built – in Fgura, Marsascala, Kirkop and St Julians (Ta’ Giorni) – was transferred to the foundation with the unanimous support of Parliament, in a motion approved without the need for a vote.
The 11 bids to build the site cam from the following 7 bidders:
- Cast Renting Ltd
- Vassallo Builders Ltd
- A.M. Developments Ltd
- Green Building Solutions Ltd
- Bonnici Bros Services Ltd
- Eclipse JV
- JAJ Contractors Ltd
The foundation said that an evaluation committee composed of independent experts would now assess the submissions in line with established criteria, “ensuring quality, sustainability and affordability.”
The apartments would be made available to individuals and couples with lower to medium incomes: interested parties are invited to register on www.affordablehousing.mt to receive further information and updates.
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