Ta Monita Development in Marsascala
The redevelopment of the Ta’ Monita site in Marsascala will see the building of a high calibre studio flats and 1, 2 and 3 bedroom apartments and penthouses along with a swimming pool, a piazza and underground parking. Aiming to set new standards for development in the south of the island, Ta’ Monita Residence in Marsascala will cover an area of 18,000m².
Special Designated Area Status
Ta’ Monita Residence enjoys Special Designated Area status, meaning that foreign investors, whether they are EU or Non-EU, can purchase as many units as they want without the need for an AIP (Acquisition of Immovable Property) permit. Due to this special status, the units can also be rented out immediately without any restrictions.
In conjunction with Malta’s new Residences Programmes, owning a property at Ta’ Monita Residence is an extremely attractive proposition indeed, as it is one of the few Special Designated Areas where you can have a 2 or 3 bedroom apartment with sea views plus have the use of swimming pool in the €220,000 bracket, the qualifying minimum for owning a property in the South under the Malta Global Residency Scheme. This makes Ta’Monita is one of the most affordable SDA developments in the entire country.
This upscale project is poised to establish fresh benchmarks for development in the southern region of the island, mirroring the transformative impact that Portomaso in St Julian’s and Tas-Sellum in Mellieha had on elevating living standards to a 21st-century level in their respective locales. The development distinguishes itself through its low building density, thoughtfully-designed landscaped gardens and aesthetically pleasing facades, all of which will collectively contribute to enhancing the overall quality of the area. In addition to addressing local demand, the development is aimed at attracting high-net-worth individuals from abroad whose investments will play a substantial role in bolstering local economic activity.
Ta’Monita is in close proximity to the area’s most popular attractions and with the location now also seen as an up-and-coming as a business destination, many of Malta’s leading firms have decided to relocate their offices to the Marsascala area. Ta’ Monita is within easy reach of the much-celebrated commercial and business hub of Smart City, which promises to attract a range of top international organisations along with the new SDA Shoreline Development.