The closed-down Scotts Supermarket in Santa Luċija has been acquired by Tum Tal-Pajpaj Properties Limited, part of the Tum Finance plc group, and is set to reopen under a redevelopment project.

In its Interim Financial Statements for the period ending 30th June 2025, Tum Finance plc stated that the property will be converted into a shopping complex.

However, the Planning Authority application (PA/01117/25) specifies that the project involves the refurbishment of the existing supermarket together with its parking and storage areas.

It remains uncertain whether the supermarket will resume operations under the Scotts name, be taken over by an established local brand, or introduce an entirely new brand to the Maltese market.

The plans include the addition of a first-floor supermarket and warehouse space, along with internal and external alterations at both basement and ground floor levels.

Tum Finance plc operates across real estate, investment, and leasing in Malta, and also functions as a financing arm for group companies and related entities.

For the first half of 2025, the group reported a profit before tax of €3.32 million, up 75 per cent from the €1.9 million in the same period of 2024.

The group reported revenue of €1.32 million for the first six months of 2025.

The group also announced that San Gwakkin Limited, which is 75 per cent owned by Tum Operations Limited, will be transferred to BBT plc, which will include all of BBT’s shares and cash.

As part of a restructuring, BBT Nigret Properties Limited will be moving €14.9 million of long-term liabilities to Tum Operations Limited, which will settle about €21 million of its liabilities with Tum Finance plc.

BBT plc was first set up when four major companies embarked on a joint venture in commercial real estate. 

The company’s Directors decided not to recommend the payment of an interim dividend.