Malita secures €22 million EIB loan for Luqa social housing project

The government property investment holding company Malita has secured a €22 million loan from the European Investment Bank (EIB) that will go towards the construction of 267 units in Luqa out of nearly 750 social-housing units currently being built in Malta.

The financing addresses a pressing need for affordable housing in the area. The new homes will feature the highest energy-efficiency standards, and will meet the immediate housing needs of low- and middle-income residents.

Minister for Social and Affordable Accommodation Roderick Galdes said this was an important step forward ensuring high-quality, affordable housing to those in need. “With this partnership, we’re not just building homes; we’re creating sustainable and energy-efficient communities. We are setting a new standard for living spaces that are not only environmentally responsible but also foster social integration and community resilience.”

EIB Vice-President Gelsomina Vigliotti said: “By providing financial support for the construction of social-housing units in Malta, we aim to foster inclusive growth, enhance living standards and contribute to the overall well-being of the local population.”

Malita Investments plc is a listed company on the Malta Stock Exchange with 80% shareholding owned by the Government of Malta and 20% by private shareholders.

The investment holding company is used for the acquisition, development and management of immovable property, to reinvest revenues and undistributed profits in strategic real estate projects.