18 May 2005

The Web

Lm5 million residential property investment in Paola

MEPA has recently approved an innovative Lm5 million project in Paola. The A3 Towers project is an innovative concept for residential living located on the main Paola artery on a large plot bound by four streets, L-Ibjar, Ninu Cremona, New Street in Ninu Cremona and l-Arkata.
The project was conceived by Architect Colin Zammit together with his team, following discussions with the Major Projects division within MEPA. The result is a design where the built up area forms only 30 per cent of the total space available leaving 70 per cent open space.
Montebello Brothers, the property developers, have invested Lm1 million on the land, Lm2 million on construction, and Lm2 million on finishing. The marketing and sales of the projected has been entrusted to Dhalia, who have a sole agency agreement for this project.
The built-up area will include the first residential tower blocks on the island and will be in the form of three medium-rise steel tower structures. The A3 Towers project also includes a large open square which is considered a fundamental part of the design, together with a cafeteria and three lower levels of garages that will include 170 car spaces.

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