Ricasoli Properties Ltd is proposing a new scheme for customers looking for a sea view apartment at The Shoreline.
The first 100 apartments in this mixed-use development, consisting of a 25,000sqm shopping mall and 400 residential offerings at SmartCity in Kalkara, were sold in the first phase.
Located within Smart City, these apartments enjoy a Specially Designated Area (SDA) status and conform with the parameters of the approved 2008 Masterplan for SmartCity.
It is estimated that the whole project will be completed within 4.5 years from the issuance of permits. Construction work is planned to start in 2018, as soon the full development permits are received from the authorities.
New payment terms are available for the current phase, with a payment structure of 10% as promise of sale agreement deposit, 10% payment upon the issuing of full development permits, 10% payment upon completion of shell form while the remaining 70% will be paid upon final deed of purchase in a finished state.
Bank finance is available through four of Malta’s major banks: APS Bank, BNF, BOV and HSBC.
All signed promise of sale agreements are subject to a full development permit, and all deposits are held in escrow and managed by a public notary.