Puttinu’s dream is a step closer to reality
Launch of an expression of interest for the development of new accommodation units in central London partly financed through a €6 million contribution generated by the IIP
The Individual Investor Programme of Malta will be a catalyst in the provision of free accommodation to patients and their relatives traveling to the UK to receive treatment at the Great Ormond Hospital. During the last four years, Malta’s citizenship by investment applicants opted to help Puttinu through financial contributions that reached a total value of €1 million. Added to the €5 million contribution made through the National Development and Social Fund (NDSF), announced by the Prime Minister on Good Friday, these funds will help Puttinu Cares acquire premises in London to provide more accommodation units so that relatives of patients would be able to stay close to their loved ones and provide their much-needed support.
As outlined by CEO Rennie Zerafa and Vice-President Angele Cuschieri, Puttinu Cares aims to provide around 30 additional apartments in central London so that 80% of the patients that need to go the UK to receive medical assistance would be able to benefit from free accommodation and ease their minds from logistical issues.
Parliamentary Secretary for Reforms, Citizenship and Simplification of Administrative Processes Julia Farrugia Portelli, was in London to attend for the launch of the project which is estimated to cost around €20 million. Puttinu Cares shared their plans and invited developers based in the UK to come forward with their proposals. Submissions must reach Puttinu Cares by the end of October, following which a committee composed of industry experts headed by the same NGO will evaluate all proposals in hand. The selected bid will be announced at the beginning of 2019 with the aim to finalise the project by latest 2020.
The event was also attended by President of Malta Marie-Louise Coleiro Preca, who gave her full support to this noble cause that is so close to the heart of the Maltese community. The new High Commissioner for Malta in the UK Joseph Cole was also present.
“There is a reality behind the Citizenship by Investment Programme that is making a big difference in the lives of vulnerable people and is helping noble causes, which is hardly known by the public. IIP applicants are helping a lot of NGOs by providing regular financial contributions. To date IIP applicants have made around 600 donations, amounting to €3.6 million, to 99 entities, amongst which arePuttinu Cares which have received around €1 million”, Parliamentary Secretary Julia Farrugia Portelli announced.
“The Individual Investor Programme is a citizenship by investment programme unlike any other. The main aim is to attract new investment, new talent, and families that genuinely want to become Maltese citizens. This initiative provides the opportunity to understand the Maltese culture and learn all about the traditions that are close to the heart of the Maltese”, the Parliamentary Secretary said.
Through this initiative and many others that are happening daily, the citizenship by investment programme is leaving a very positive mark on the lives of the local community.