MIDI plc has concluded the sale of a number of commercial properties at Tigné Point.

Through the agreement, Basel Capital Ltd acquires the temporary utile-dominium for the period remaining out of the original period of 99 years which commenced on the 15th June 2000, of 11 commercial premises and the building known as Unit T3 at Tigne Point.

The 11 commercial premises underlie the Pjazza Blocks.

The promise of sale agreement between MIDI plc, its fully owned subsidiary T14 Investments Limited, and Basel Capital Ltd was signed in December 2025. The Promise of Sale had showed that Basel Capital was to pay €10.2 million for the deal. This agreement had also specified that the properties are currently leased out individually to third party tenants except for one which was being used as a sales office by MIDI, and read that the total annual rental income attributable to the said properties amounted to €657,000.

The net sale proceeds of the eleven commercial properties will be partially applied towards the redemption of the MIDI's €50 million bond which is due on the 27th July 2026.

Basel Capital has a sole shareholder, Burak Basel, a Cypriot national, who is also one of the Food For Fit Malta Ltd shareholders.