Valletta-based real estate developer VBL Group has approved the distribution of a final net dividend of €220,000, equivalent to €0.0008829 per ordinary share. The announcement was made in the company’s half-yearly financial statements.

The group reported a robust financial performance, with revenue of €2.13 million, a 25 per cent increase compared to €1.7 million in the same period last year.

EBITDA rose sharply to €784,394, up from €310,794, a growth of 152 per cent. Profit before tax reached €119,836, representing a 72 per cent increase over last year’s €69,706.

In its financial report, VBL noted that only around 30 per cent of its properties are currently renovated and operational, while the rest are undergoing renovation or being prepared for development.

The group expects this share to increase significantly as major projects progress, including its major development, the Silver Horse Block Phase 2.

The block, fully acquired in 2019, is being expanded to include a mix of one- and two-bedroom apartments as well as studios.

Additionally, part of the building will be converted into 1,500 sqm of office space, which will make it the largest privately owned office block in Valletta. The building should be completed by the second half of 2026.

VBL Group is involved in the property ownership and full process of real estate acquisitions, integrated real estate development, property management, operations, utilisation and disposal of properties, with the main market of operation being Valletta.

Since it was established over 10 years ago, VBL Group has become one of the largest and most active investors in immovable property in Valletta.