GAP Group plc has announced the loss of its own shareholder, Chairman and Director George Muscat, who passed away on Friday 22nd September.

GAP Group came about as a partnership between George Muscat, Adrian Muscat and Paul Attard, three property developers. In 2001, they jointly formed GAP Holdings, with the name of the company being an acronym for the three founders. The group launched multiple development projects including Mulberry Park in Qawra, the Pantheon in Mosta and Fort Cambridge in Sliema.

Mr Muscat indirectly owned 33.33 per cent of the share capital of the Company and held the position of Chairman and Executive Director of the Company, since its incorporation in October 2016.

The company expressed its sadness on Facebook, stating that Mr Muscat was a “catalyst” in the property development sector and was also involved in the retail sectors through his interests in Bay Street Complex, BHotel and the Hyatt Regency.

“George was highly respected by his business peers and known with everyone as a true gentleman. George left us, but we at GAP, will continue to cherish his values forever,” the company said.

His funeral will be held on Wednesday 27th September in Qormi and it will be followed by a corteo that will pass from AC Hotel by Marriott, Hyatt Regency Hotel and Bay Street Complex.