Malta Properties, a spun-off subsidiary of GO plc, has entered into a Promise of Sale Agreement for the sale of its property at 17–18, Telghet is-Saqqajja in Rabat, currently known as the Rabat Exchange, for a consideration of €2 million.
The agreement, signed on 18th December 2025, was concluded with Ten21 Limited, a Malta-registered company owned by notaries Sam Abela and Graziella Abela Gatt. The promise of sale for the three-storey, 714m² block remains valid until 30th December 2026, during which time the parties are expected to proceed towards the eventual transfer of the property.
A 2022 valuation by AP Valletta assessed the property at €1.3 million, meaning the agreed sale price reflects an increase of almost €700,000 in just three years.
The site was the subject of a planning application submitted in 2024, where Malta Properties Company applied to carry out ground consolidation and underpinning of the existing foundations. No planning approval has yet been granted for the proposed works.
The publicly-listed company stated that it will keep the public and its stakeholders informed of any further developments related to the transaction as and when necessary.
Written By
Adel Montanaro
Adel Montanaro is a storyteller at heart, combining a journalist’s curiosity with a deep love for music and creativity. When she’s not chasing the next great story, you’ll find her at a local gig, brainstorming fresh ideas, or surrounded by her favourite people and pets.
