Sandro Chetcuti is going to be sorely disappointed
Sandro Chetcuti at Magistrate Consuelo Herrera’s birthday party. In the background: Mrs Jesmond Mugliett (Karen), who now sits alongside Jeffrey Pullicino Orlando on the board of the Malta Council of Science and Technology (a cook and a dentist – so appropriate)
Interviewed on TVM on Boxing Day, Labour Party donor, red Ferrari owner (he lent it to Super One’s Faderrrr Gorddddinnn) and vice-president of the Malta Developers Association, Sandro Chetcuti said that the new requirements for buying a Maltese passport will “stimulate the medium and high end property market”.
Is the man all there? Eur350,000 doesn’t buy you any high end real estate. It barely even buys you medium anything. Those people are going to be right in there competing with those who are trying to buy their a fairly modest family home. That is, if they bother buying at all – which they are unlikely to do, given that it makes far more sense to take the other option of paying Eur80,000 for a five-year rental agreement.
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Henley and something will use their crooked sister company Henley Estate to provide “leases” to their clients for carved up “spaces” at their office, sub lease their staff quarters 100 times, anything they can possibly get their hands on.
Great business – another 80K in pure revenue (profit) + fees + commission for “renting” out “virtual” space in addition to the lucrative due diligence + processing fees from the applicant + 4% commission of the 650K contribution – to Henley and Something.
So Henley & Partners have a real estate arm – just wait for their glass, bamboo and pebble agency office somewhere along Tower Road.
And don’t forget the ginseng cappucino. What a nation of suckers.
Sandro Chetcuti has forgotten how much fanfare he made on Comino with the Nationalist Party flag when the PN won in 1998.
I felt embarrassed for him. I cannot fathom people who are not able to stand by what they believe in and are willing to kiss any ass as long as it suits them.
Well he owns the Ferrari and not me since I am not able to lick any ass but I stand firmly in what I believe in.
The Nationalists lost the election because they had been in power for too long and if Labour did not win they would have had to call it quits – but the reason the Nationalists lost with such a huge amount is because we have a lot of people who vote for personal reasons and we also had four cowboys within our party who wanted to prove a point and these are John Dalli, Jeffrey Pullicino Orlando, Jesmond Mugliett and Franco Debono.
I hope they are satisfied with what they have landed the country in, but as long as they get appointed somewhere they do not mind screwing up the country.
My message is to all those people who believed in the Labour Party and gave them their vote and now they are disappointed, show this disappointment by voting for the right candidates in the European Parliament elections.
Imagine getting a fair hearing by Magistrates who dish out parties for their cronies when one of the cronies is one of the parties (pun intended) in the law suit being decided.
Peralta’s party is nothing compared to these.
No wonder nothing will happen to Peralta, there are dirtier clothes in the lawcourts dirty linen bin.
You can see that the circle of friends of friends is now complete:
http://www.timesofmalta.com/articles/view/20130314/local/-I-was-invited-to-Castille-by-Toni-Abela-.461405#.UsUFh83QQXw
…and he got a suspended jail sentence for assaulting Vince Farrugia who got to know that Sandro was organising meetings for Joseph Muscat at the Madliena Cottage Restaurant:
http://www.timesofmalta.com/articles/view/20130921/local/sandro-chetcuti-to-retain-place-on-government-board-despite-conviction.487022#.UsUEfs3QQXw
It paid off well for Sandro.
Actually it would make sense to buy a property at that price, then rent it for five years as an investment.
Then after five years, sell it and get your money back. Smart eh?
The ones investing in this scheme and making a profit will be the new owners of a shining Maltese passport without ever having set foot in Malta.
Dan qatt ma hareg mid-dar jixtri t-Times u Sunday Times ghax kieku jkun jaf li lanqas l-ghatba ta’ villa ma tixtri b`dawk il-flus ahseb u ara high end property bhal ma ghandna hawn fil-Mellieha.
Forsi ma jafx bl-Ingliz u high end hasbu xi wiehed mill-flats ta’ fuq nett f’ Tower Road Sliema. Li hu ukoll b`dawk il-flus ma tixtrihx.
Li hu zgur hu li, li tkun segretarju tad-Developer`s Association u ma tkunx taf il-prezzijiet ma thallilek ebda triq hlief li taghlaq il-bieb u titlaq l`hemm. Sahha.
Incidentalment il-qalziet tal-Mrs ma jidhirx imdennes bit-trab iswed li ghandha fil-bitha.
Jaqq, kemm hu kiesah u cuc il-bniedem. Ifettah saqajh jonqsu biex juri lid-dinja kemm huwa bniedem ridikolu.
Ritratt li jurik bic-car li bil-flus taghmel triq fil-bahar u hbieb li trid anke fil-magistratura.
Fil-verita dan huwa biss ragel sinjur. Il-bqija rghib, vojt u injorant. Intelligenza u integrita xejn. Armi’ l hemm.
And Astrid Vella will have to keep her mouth shut, because any new ‘development’ by the Malta Developers Association will be rushed through on the grounds of foreign direct investment.
It’s also not clear whether these contracts can be extended to property on plan. The ultimate Ponzi scheme.
As for keeping government bonds for five years, if there was a sign of Muscat’s short term thinking it has to be this one.
Does he realise what effect this will have on their issue, who’s going to buy these when in five year’s time there will be a constant supply of 150k packets which could be dumped, supposedly compensated by Chetcuti’s envisaged real estate spike? I wouldn’t, I’d wait and shop later.
This incestuous interlinking of property values and sovereign debt has to be the most dangerous idea yet. Throw in the secretive plans to create developable land and it becomes explosive, it’s Zapatero, Dubai and Azeri delusions in one.
I don’t think we’ve actually realised the risks involved here, even more so when this prime minister behaves and speaks like he has a hidden agenda.
What’s sick is how since summer, FDI, GDP, employment, have been linked exclusively to pure speculation. Meantime unemployment’s up by 500%, following the greatest production dip in six years.
Muscat needs to clarify whether he wishes re-election or not.
To think that all that talent that will be attracted to Malta will only pay Eur 80,000 of rent in Malta per capita over 5 years…
And if they’re not even required to even glimpse the property who’s holding them back from sub-letting to others?
Iz-zunzana ddur iddur…..
True, but they might even leave their property vacant. All the more reason why Astrid Vella should protest about this – more vacant properties. There were 70,000 the last time I checked. Make that 71,800 now.
Sources “which are usually well informed” say that Michael Falzon A&CE will not be seeking re-election as President of the Malta Developers Association at the forthcoming annual general meeting due in the coming months.
The new MDA president will be Sandro Chetcuti.
I hear that Chetcuti is also gearing up to stand for election on the Labour ticket and that he is working hard towards that end, with a view to being a minister or parliamentary secretary post 2018. Time flies.
If 350k is high end, then I must be living in a cave, and the economy has gone to shite.
Four years from now, actually, the only hospitable place that might be considered high-end would be the Auberge de Castille, with all of those pompous, insufferable oafs of government ministers feasting.