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Phase Two of Pendergardens Onto a Oromising Start

Following the publication of €42 million worth of bonds , in order to finance the project, Pendergardens Developments plc. is pleased to announce that the bond issue has now been oversubscribed.
As was announced on May 22nd, a total of €50 million are to be invested in Phase two of the Pendergardens project which will include the development of two residential blocks (Block 16 and 17), two towers, T1 and T2, and another underlying car park. This development will include approximately 120 luxury apartments situated in Block 16 and 17 and the upper levels of Pendergardens Towers. Over 5000 square metres of office space as well as 5,000 square metres of commercial space will be created. 

Block 16,17,T1 & T2 from St.Andrew's Road 

With the construction of block 16 in progress and 60% of its units already sold, the development of phase two is on to a successful start and is expected to be completed by the end of 2017. The development of the other  buildings will commence this coming July.

Phase One of the Pendergardens project was a success story with all 150 apartments sold to purchasers coming from over 20 different countries.

Phase One of the Pendergardens project complete 

The 22nd of May was marked by a visit by the Prime Minister, Dr. Joseph Muscat. Dr.Muscat praised the endeavour of the developers as well as the investors who showed confidence in the development of Pendergardens and in the local economy.

Dr. Muscat described the project as a “significant investment” pointing out that this development of luxury property compliments the increasing interest and demand for high-end property in Malta, which ties in well with the recent sale of the Maltese citizenship scheme.

Pendergarden’s chairman Edmund Gatt Baldacchino spoke about the way forward for Pendergardens development and that he foresees a bright future for the project which also includes the state of the art The Exchange Financial and Business centre

Below is a video of the different phases and development of Pendergardens: 

Download a compilation of the online/print news articles that reported the Prime Minister's Official Visit