The Malta Independent on Sunday
Dubai businessman mentioned only possible private sector investment in meeting with Muscat
Kevin Schembri Orland Billionaire developer Hussain Sajwani, chairman of Dubaibased Damac Properties, expressed interest in private sector investment during a meeting with Prime Minister Joseph Muscat, but not in public sector investment.
The Prime Minister had a private meeting with Sajwani last week, with media reports saying that the pair discussed tourism growth and Malta’s historical appeal as a business-friendly location.
In response to a number of questions sent by this newsroom to the Office of the Prime Minister, about the type of investment the Damac chairman was considering in Malta, an OPM spokesperson The Malta Independent on Sunday was directed to Damac. The questions have consequently been addressed to Damac, but no replies had been received in time for publication in this newspaper.
Asked if the investments discussed would require some form of agreement with the government or if they would be agreed purely with the private sector, the government official said: “The developments mentioned were private sector owned. Should Damac subsequently show interest in other government projects, public procurement rules will apply.”
The visit itself, officials said, “Was a courtesy call arranged by one of the ‘big four’ companies who are advising Damac. Damac wanted to brief the Prime Minister about their interest in investing in Malta.” The government officials explained that the meeting was between a delegation from Damac, together with their consultants, and the Prime Minister and his Chief of Staff.
According to news reports, Sajwani said in a statement: “Malta presents an ideal mix of investment benefits that make it a very attractive place for luxury and hospitality developers looking to expand into the EU.
“Thanks to favourable tax incentives for foreign investors, as well as a stable government and leadership that continue to drive economic growth through the tourism sector, Malta is a destination we are keeping an eye on as we continue to explore expansion opportunities there.”
The Dubai-based company gained international fame after it teamed up with the Trump Organisation to build the first and only Trump International Golf Club in the Middle East.