Gozo diocese’s investment policy: a right of reply

The investment occurred 10 years ago at a time when the construction company planned on building structures to the same height levels as the then existing buildings in the area

31 August 2016, 10:51am
Fort Cambridge
Fort Cambridge
I refer to your front-page article in the Sunday issue of your newspaper (Gozo diocese, Dominicans and nuns invested €1.5 million in Fort Cambridge, 21 August, 2016) and wish to advise you that the information published is misleading and incorrect.

The investment that is being referred to, occurred 10 years ago at a time when the said construction company planned building structures to the same height levels as the then existing buildings in the area, and not the high-rise buildings that are the current issue. That was a short-term investment which as you correctly mentioned already matured three years ago.

I feel that in order to keep your readers better informed you could have clarified that these investments are nothing to do with today’s high-rise buildings issue.

Victor Gusman

Administrative Secretary,

Diocese of Gozo 

Editorial Note:

The investment in question, which related to financing bonds for GAP Developments, was earmarked for a 16-storey two-building apartment complex that was later ‘increased’ to 21 storeys while retaining the height of the original 16-storey plan (the individual floor-heights were decreased). This in itself meant that the GAP project was a high-rise development.