Pender Ville Ltd was formed in 2005 by a consortium of local investors to acquire and develop the Pender Place site (18,500 square metres) and the old Mercury House site (8,500 square metres) in St Julian’s. The consortium set up a senior management team that has considerable experience in property development and project management.
Part of the Pender Place site (4,300 square metres) was sold to a related company in 2008. In 2009, part of Mercury House site (950square metres) was sold to FIMBank plc, a trade finance bank as their global headquarters and the main positioning for The Exchange as the only finance and business centre in Malta. The remaining areas within the sites have now been respectively branded ‘Pendergardens’ and ‘The Exchange – Financial Business Centre’. So the property development area in Malta at Pendergardens includes a residential development whereas The Exchange will focus solely on commercial activity.
The Government has clearly outlined the parameters for developing these sites in the project’s Development Brief. The Malta Environment and Planning Authority (MEPA) has since granted a full Development permit for the whole property development.
Pendergardens and The Exchange were awarded a Special Designated Area (SDA) status after satisfying the criteria stipulated by the Government. This is of benefit for all non-Maltese purchasers because the Acquisition of Immovable Property Permit for non-residents will not be required. This allows for normal property transfer, allowing non-Maltese property buyers to purchase more than one property at a time or they can purchase as part of trust or as a company asset in any name the owner chooses. Further, it permits owners to rent out the property as and when they see fit.
The Project Concept at Pendergardens is: ‘Everything Surrounds You’.
The concept that defines Pendergardens aims at achieving a modern and contemporary lifestyle based on the quality of open spaces, generous living spaces and the sheer convenience of living in this unique location, which is why ‘everything surrounds you’ here.