Down goes Dun
by di-ve.com - editorial@di-ve.comBusiness & Finance -- 10 November 2008 -- 09:10CEST
Demolition works started on November 8 on the site of Dun automobile showroom in the lower part of Testaferrata Street, paving the way for over 2,000 square metres of office and retail space. These works are expected to last around 6 weeks, followed by site excavations.
“The development of the Dun site effectively marks the first visible milestone of our regeneration project for the Testaferrata Street and Gzira area. Since it is smaller in scale, this project will be completed before the Metropolis high-rise development and it will mark our first completed project in the area” said Ian Zammit, president for the insurance and property division of GlobalCapital.
In the meantime, excavation works on the Metropolis site have been completed and at the moment, the adjudication of a tender for the selection of a main building contractor is underway.
The construction phase is expected to start as soon as the Malta Environment and Planning Authority grants a full development permit.
Earlier this year, Metropolis was granted an SDA status, which effectively means that foreigners can purchase more than one unit within the development.
GlobalCapital’s property portfolio includes a 5,000 square metre site in Croatia, earmarked for the development of 63 seafront units. It is in the process of being handed over a number of luxury apartments in the heart of Buenos Aires, Argentina, designed by world-renowned designer Philippe Starck.
The group also owns properties in Sofia and Varna (Bulgaria), Rome and Barcelona.
In the meantime, excavation works on the Metropolis site have been completed and at the moment, the adjudication of a tender for the selection of a main building contractor is underway.
The construction phase is expected to start as soon as the Malta Environment and Planning Authority grants a full development permit.
Earlier this year, Metropolis was granted an SDA status, which effectively means that foreigners can purchase more than one unit within the development.
GlobalCapital’s property portfolio includes a 5,000 square metre site in Croatia, earmarked for the development of 63 seafront units. It is in the process of being handed over a number of luxury apartments in the heart of Buenos Aires, Argentina, designed by world-renowned designer Philippe Starck.
The group also owns properties in Sofia and Varna (Bulgaria), Rome and Barcelona.