News Release 1/2019 - 06 February 2019

News Release 1/2019 - 06 February 2019

The Board of Governors of the National Development and Social Fund (hereinafter referred to as “NDSF” “Fund” or “Agency”) would like to announce that a Memorandum of Understanding (MOU) between the NDSF and the Housing Authority has been signed today. NDSF has firmly committed €50 million towards a social housing project.

NDSF's funding of this social housing project is of national importance and in the public interest. The social investment is aligned with at least three aims of the Agency detailed in its founding regulations. Namely, to assist in initiatives to provide for social housing; to combat social exclusion and to undertake initiatives for the benefit of future generations. The salient features of the Social Housing Project are the following:

  • 500 new social housing units in 22 different sites.
  • Sites are spread over 12 localities, namely Paola, Kirkop, Rabat, Żabbar, Mellieħa, Luqa, Żurrieq, Żebbuġ, Qormi, Siġġiewi, Qrendi and Marsascala.
  • The distribution of 1, 2 and 3 bedroom apartments which will be based on the social profiling exercise conducted by the Housing Authority. This to ensure that the demand for social housing is adequately catered for.
  • The NDSF Board of Governors has commissioned a study referred to in the MOU as the Development Brief. The Development Brief will provide necessary guidelines to each party to ensure that the project meets the required technical standards and building regulations as well as to determine the maximum utilisation of the sites and cost effectiveness.
  • One of the main aims of the Development Brief is to ensure environmental, social and economic sustainability of the project. In this respect, all units will be eco-friendly therefore reducing consumption of electricity and will also include waste-water management systems to reduce water consumption.  Lower utility bills will result in cost savings which could then be used for educational and health needs of residents encouraging social mobility.  All buildings will be constructed and finished according to the highest health and safety standards.

The Agency is confident that through this social housing investment it is fulfilling its commitment to a sustainable future. Moreover the NDSF believes that this project will become a model for social housing development in years to come.

The National Development and Social Fund is a government agency established for the purpose of managing and administering seventy per cent of the contributions received from the Individual Investor Programme of the Republic of Malta set up by virtue of the Malta Citizenship Act Cap.188.