Lands Minister sees no conflict of interest with wife owning property development company

The Lands Minister has denied any conflict of interest in the fact that the minister’s wife owns a property development company.

According to The Shift News, the wife of Lands Minister Silvio Schembri set up a property development company last year at the couple’s private address.

But a spokesperson for the minister told MaltaToday that there is no connection between the company and any government-owned land, and that there is no conflict of interest with the Minister’s work.

The spokesperson referred this newsroom to the minister’s declaration of assets and the memorandum and articles of association of the company, insisting that the documents refute any conflicts of interest.

The memorandum and articles of association state that the company’s main operation is construction, namely to excavate building sites and carry out construction activities.

The company, DZF Ltd, is also shareholder in another property company called Central Projects Ltd.

Schembri is a shareholder in a separate company called ZF Ltd, also registered at the couple’s private address. The company’s main objective, as per the memorandum and articles of association, is to lease out properties

As of the 2021 financial year, ZF Ltd held €226,943 in total assets, of which €141,272 was held in investment property.

MaltaToday also sent questions to the Prime Minister regarding Schembri's potential conflict of interest and whether clearance was sought by the minister when this company was set up. However, a spokesperson for the OPM simply referred this newspaper to the replies sent by the Schembri's ministry.