Pembroke land being sold to China at 1/4 of its market value discounted by 25%
Published:
November 1, 2014 at 6:06pm
I have asked somebody who works in property development in the St Julian’s/St Andrew’s area to work out the numbers on the government’s plans to sell 20,000 square metres of Pembroke land to China for Eur7.8 million.
These market-price numbers show that even allowing for a 25% ‘bulk discount’, China is getting that parcel of land for one-fourth of its real value.
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Well done – let’s get the figures right.
What a bargain – Manuel Mallia must be so envious. You don’t find that kind of thing in the bins at Lidl.
Manwel Mallia is an ace at commissions.
I don’t see him being left out, rather, part and parcel of the contract design.
That reminds me of the 500,000 Euro in cash.
I would really like to know how many millions were transferred to the PL before the election.
And the same amount goes to the party or already has gone to the party?
So Joey and Co are stealing Eur21 million from the people.
Eur 21 million to China, Eur 0.58 cents to Maltese families.
That’s at least 3.3 million bottles of water
The discount will be recovered from the sale of about 25 EU passports.
You might actually be wrong…which in itself is rather novel.
I suspect the Chinese will pay the full price; it is just that they paid the first 75% up front, before the last general election.
Spot on Albert …
I calculate that Communist China has bought the whole of Malta and everyone in it for even less than 1417 Euros per square metre. But then again, just like with the Premier Cafe and so many other recent deals, there’s more ship below than above the waterline.
Terms of Payment: Long-term provision of 100 euros a year at -0.5% interest rate.
This is the opportunity for the Opposition to request a debate in Parliament on the secret deals with China.
The prime minister must be challenged to table the memorandum of understanding he signed in China in 2010. This now binds two governments because both parties which signed it pretend to be the State in their respective countries.
Why not try to sell it on eBay. Be sure we will be far better off
Can’t believe all this China China China … Expecting David Bowie’s “China Girl” to make an unexpected comeback into the top ten this week to crown it all.
This gives us a very good idea of how much money the Labour Party was given to fund its massive election campaign with much more left over for future campaigns.
I doubt the Chinese are getting a discount. It just is being paid to a different pocket. With God knows what commission being paid to Shiv Nair and possibly a few men at the top here.
Paroli si fatti no. F’hiex gie dan il-pajjiz. Min jithanzer kemm jiflah u min lanqas ghall-frak li jaqa’ m’ghandu cans. Qatt ma smajt b’pajjiz iehor korrott daqs dan u kulhadd b’idejh fuq zaqqu.
And no one seems to have the guts to organise a protest, a rally, a demonstration or even a march against these criminals surrounded and buoyed up by the qabda mejtin bil-guh clan (Cyrus, Carina, Ramona, Marlene, Willie and Alessandra immediately spring to mind).
We rallied in the eighties against the many injustices of a despicable and corrupt regime which is starting to pale by comparison with the lot we have now, taking our country to the dogs.
Where are the youths and youth organisations?
After you, sir.
Count me in .
The calculations seem to be right on the mark. The ex Forum hotel in St Andrew’s was reportedly bought by Joe Portelli (San Blas fame) for 14m euros from the Mifsuds. That area is circa 10 tumoli, hence 20k sqm should be worth about 28m.
These figures are so wrong. I am more than happy to sit with any of you and give my humble opinion on the value of the land in question. One has to see what the agreement is, ie percentage of building area, number of stories etc. It is definitely NOT worth nowhere near your €28M, no matter what way you work it out.
Also, the prices per square meter are for a 3+1 area and not for a detached (Villa / Bungalow) area and definitely not in Pembroke either. One would only consider to buy a site at €1800 / m² in a 3+1 area in Sliema (not Lazy corner area) and most certainly not Pembroke.
Interesting argument. So how much would you price it?
If I am not mistaken the US embassy paid 18 million Euros for the Ta’Qali land.
For how much space? Pembroke is a high-value land are, unlike Ta’ Qali, which is an industrial space.
Issa jmesshom jibnu xebgha social housing mal-Ambaxxata.
The value of Pembroke land and the surrounding areas is likely to go down now.
It is being said that Perit Charles Buhagiar (the Labour PM who incidentally is also involved in the ‘restoration’ project of the villa, Villa Francia, where Michelle Mallia carries out her customer care) is discussing this project, on behalf of the Chinese, with MEPA.
Obviously, he will be voting in Parliament for the transfer of land. What’s wrong with that?