Tag: smart city
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The theft of SmartCity and how the public markets supported it
Kevin Deguara, along with his associate Jean-Carl Farrugia, was charged in court with money laundering in connection with the Vitals and Steward Health Care case and is suspected of having served as one of the money-laundering fronts for Keith Schembri. His involvement in what was previously the SmartCity project, Shoreline Mall, has been particularly interesting…
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Maltese markets are not correctly pricing distressed assets
Not enough public debate has been made about the Smart City project which Keith Schembri and his friends then turned into Shoreline Mall. The project, which involved handing out public land to a group of speculators and investors, mimics the project of MIDI at Tigné Point and Joseph Muscat’s administration seems to have tried to…
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EXCLUSIVE: No guarantee by Shoreline director that bondholders are to be paid
One of the directors of Shoreline Mall, a real-estate project in Smart City, Kalkara, currently led by Kevin Deguara and his associates, has told The Maltese Herald that he can not confirm whether bondholders of the 4% secured bonds maturing in August are to be paid. The bonds are currently trading at 97% of their…
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Kevin Deguara’s business partner is now also involved in Saint Patrick’s Football Club
The owner of Malta’s real-estate project called Shoreline in Smart City, Kalkara, Ryan Edward Otto has become the President of Saint Patrick’s Football Club. Kevin Deguara who is a business partner of Ryan Edward Otto, and also involved in Shoreline, was the previous president of the club and has now been appointed Honorary President. Basically,…
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ADPD oppose the construction of new road to Smart City
ADPD is urging the government not to proceed with the planned construction of a new road linking the entrance of Cottonera with Smart City. ADPD said that the new road will remove up to 5,600 metres² of green area and potentially threaten ecological and historic sites. You can read ADPD’s statement in full here. Other…
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Moviment Graffitti slams proposed Zabbar-Smart City road as “environmental disaster”
Activist group Moviment Graffitti has come out strongly against the proposed two-lane road linking Zabbar to Smart City, warning it would cause “irreversible damage” to Malta’s rural and cultural heritage while solving what they claim is a non-existent traffic issue. Despite revised plans, the project would destroy 5,686 square meters of agricultural land, remove 30…
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Dear Leader visits the business of a convicted criminal who siphoned millions of Euros from the Malta Tourism Authority to himself and his friends
So, after getting sacked by the new Malta Tourism Authority’s CEO, Lionel Gerada is now exclusively in private business. Previously, he was also in the private business but officially he was also an executive at the Malta Tourism Authority from where he syphoned millions of Euros to himself and his friends. His new business has…
