Best Deal Properties Holding plc has announced that it has received regulatory approval from the Malta Financial Services Authority (MFSA) for the issuance of €7 million 5.35 per cent Unsecured Bonds 2032.
These bonds, with a nominal value of €100 per bond, will be issued at par and are expected to be listed on the Official List of the Malta Stock Exchange.
The bulk of the proceeds from the bond will be used to build a 22-unit development with underlying commercial outlets and garages in Paola.
These funds will be allocated as follows:
- Paola development - An amount of up to €4.5 million will be directed towards the excavation, development, construction, and completion of a development project in Paola.
- General corporate funding - The remaining €2.2 million will be used for the general corporate funding needs of the Best Deal Properties Group.
The Paola Development will take place on a site measuring approximately 678 square metres, located in Luqa Road and Tfief Road, Paola
Part of the site is located on the land known as "Tal-Lhudi".
The project will include the construction, development, and finishing of:
- 48 garages
- Two ground floor outlets
- Two maisonettes
- 19 apartments
- Three penthouses.
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Written By
Nicole Zammit
When she’s not writing articles at work or poetry at home, you’ll find her taking long walks in the countryside, pumping iron at the gym, caring for her farm animals, or spending quality time with family and friends. In short, she’s always on the go, drawing inspiration from the little things around her, and constantly striving to make the ordinary extraordinary.
