PwC Malta launches Malta’s first Real Estate Transparency Index

Jul 5 2022

Over the past few months, PwC Malta has embarked on a project in conjunction with Jones Lang LaSalle and LaSalle Investment Management (JLL), together with Archi+, in deriving the first real estate Transparency Index for Malta.

Through their Global Real Estate Transparency Index (GRETI) which now involves 94 countries and territories, JLL has been mapping the evolution of real estate transparency across the globe since 1999.

The JLL GRETI is based on a combination of quantitative market data and survey results. It scores property markets on a transparency scale (ranging between 1, Highly Transparent, to 5, Opaque) and acts as an essential guide for companies operating in foreign markets and a unique benchmark of real estate market transparency.

PwC Malta led the compilation of survey results for Malta through consultations with key stakeholders within the public and private sector, including real estate investors, key developers, architects, lawyers, notaries, real estate agents and property managers.

The Index, based on JLL’s methodology, focuses on topics such as direct property indices, availability of property data in connection with transactions, valuations, the use of real estate technology in construction and property management (among others), real estate tax, land use planning, professional standards of agents, green building regulations and sustainability.

PwC Malta launches Malta’s first Real Estate Transparency Index

Malta has been given a score of 3.64 in the Index and ranked 62 among the 94 participant countries, thereby falling within the Low Transparency category along with countries such as Morocco, Egypt and Sri Lanka.

Malta scored well on some fronts such as governance of listed vehicles, regulatory and legal aspects, as well as the transaction process. Areas such as sustainability, technology and digitisation, and availability of data merit considerable improvement.

PwC Malta’s Territory Senior Partner, David Valenzia, said, “The global real estate industry is facing increased pressures to act responsibly on a number of fronts. Real estate is an important investment instrument, and the focus of investors is shifting more towards investing and doing business in a transparent and sustainable manner.

“Understanding the importance of the benefits of transparency, PwC Malta has worked in conjunction with Jones Lang LaSalle with the objective of establishing a benchmark for the local real estate sector. “The results of this survey have highlighted what areas to prioritise and the issues the country should address in moving forward to increase transparency.

Only by working upon identifiable targets can Malta improve its score and ranking in JLL’s GRETI. “The gradual improvement of the transparency within the real estate sector will enhance the level of trust and will continue to ensure the sustainability of the industry.”

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UK starts selling new hangover pill to break down alcohol faster

Jul 5 2022

A new ‘ground-breaking’ hangover pill has just gone on sale today in the UK for just £1 and it promises to ‘rapidly break down alcohol’.

The pills promise anyone who wants to enjoy a night out enjoying margaritas that sore heads and rumbly stomachs will be no more. Myrkl is actually a pre-drinking pill which is 100% natural and vegan.

The supplement costs £30 for a pack of 30 pills and was first invented back in 1990 by scientist Johan de Faire. They were however ‘perfected over 30 years of research and design.’ Users need to simply take two pills before drinking – either at least one hour before or any time up to 12 hours before.

Up to 70% of alcohol is subsequently broken down after just 60 minutes. The product also claims to support immunity and boost energy with B12 vitamins.

Still, the product is not completely fool-proof as they also recommend adhering to the NHS guidelines. These advise people not to drink more than 14 units a week on a regular basis.

Myrkl warns on its website that, despite helping break down alcohol fast before it reaches the liver, ‘it is not suited and aimed to alleviate the impact of excess alcohol consumption.’ It should never ‘be an excuse to drink more alcohol.’

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Petition to have more dog-friendly beaches presented in Parliament

Jul 5 2022

A local dog owner has began a petition which urges the Maltese parliament to increase the number of beaches which allow dogs to swim.

The petition, which has officially been tabled in the House of Representatives, calls for a review of the beaches where dogs can be taken for a quick dip in the sea.

It proposes the inclusion of more beaches where dogs can swim along with the already established 10 beaches around the Maltese islands. Alan Grixti, the creator of the petition, argues that the beaches are also not adequate enough for the dogs.

Grixti is requesting that dogs and their owners be allowed to use most of the beaches before 9am. This is due to the summer heat being unbearable for dogs, with beaches also being less crowded before that time.

Back in May of this year, Commissioner for Animal Welfare Alison Bezzina had also presented a number of recommendations to the Ministry for Agriculture and Animal Rights. Among them was a proposal for dog-friendly beaches and better surveillance in such areas.

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Asahi the local rescued turtle released at Ramla Bay Gozo

Jul 5 2022

Asahi, the locally rescued turtle, was released at Ramla Bay Gozo on the 4th of July after having being rescued in September of last year.

Rescued 4km north west of Malta, it was found by a crew of a big yacht who then brought in Asahi. The turtle was unfortunately badly entangled in marine debris and in quite a poor state.

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Sostenibilita took to social media to post the moment as the turtle made its way back to the blue to the cheers and fascination of onlookers.

‘It is time to Save our Blue and be part of the solution and not the pollution to safeguard these amazing species!🐢💙’

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