Prime Minister Joseph Muscat used a mass meeting at Triton Square to announce that €50 million generated from the sale-of-citizenship scheme will be spent on a massive social housing project that will create some 500 new units.
“This, together with other social housing projects we have already started, means that this government will be implementing the largest social initiative of our times and this will be part of our legacy as a movement,”
Muscat said. “In a few years’ time, we will have around 1,100 new social housing units, at a total investment of €100 million.”
This is the second major project from the National Development and Social Fund, which administers Malta’s revenue from the Individual Investor Programme revenue, to be announced in recent months.
Last month, Muscat announced on Xarabank that €5 million from this fund will be donated to Puttinu Cares Foundation for the construction of new apartments for cancer patients in central London.
