Fort Cambridge on Sliema’s Tigne’ Peninsula is one of the latest Malta luxury property names to create a buzz .  The unique locations permits this development to offer guaranteed sea views from ground floor level and from the higher floors (9^th upwards). The apartments which are situated on a peninsula, promise both front and back sea views of exceptional quality.  This magnificent location apart from offering all the above-mentioned views and tranquil ambience, is situated on a very strategic location in the sense that the capital city, the state of the art national hospital, the airport, the seaport, various yacht marinas and the golf course are only within 20 minutes away by car. The area where the apartments are situated is purely residential whilst a short three-minute walk leads to one of the largest shopping complexes on the island, offering the service minus the inconvenience.  What could be more central than that?

The site has a total floor area of 28,000 square meters. And includes two historical buildings namely Fort Cambridge (after which the development is named) and a barracks building.  Both buildings, presently being restored, were erected by the British during their colonial stay in Malta and date back to the earliest periods of their permanence on the Islands – 1880. 

The entire development will include 350 apartments which will vary in format – from one, two, three and four bedrooms and in size – from 100 square metres up to 500 square metres), with a 900 car space garage complex below ground.  This development will occupy only 17% of the whole site area as the rest will be taken up by the historical buildings and beautiful landscape gardens.  In total there will be three blocks with 10 separate entrances.  The apartments are very varied both in size and views but there is one thing that is in common and this is functional living.  All the apartments in Fortcambridge  have wide terraces which in Malta are part and parcel of our everyday life as due to our mild climate these can be used for eight months a year. 

The development is a Freehold one and has been given the status of Special Designated area by means of a legal notice issued from the Government of Malta.  This status offers prospective buyers various advantages which property outside these areas does not have, such as any restrictions in regards renting property.

The prices of the apartments vary according to size location and view.  Such prices vary from € 245,000 up to € 1,900,000. The development will also offer its prospective buyers various other services, such as security 24/7 (although not really needed since Malta is practically a crime free country), a communal open area pool for the exclusive use of the residents, a gym, a spa centre and an indoor pool.  A lot of detail has been invested to the sustainability of this development, so much so that it was awarded Gold in the best eco development category during the Russian Home Overseas Property Awards.  The measures taken on board by the developers include total insulation of the blocks, specialized ventilation system, water cool VRF systems, storage and re-use of grey water, solar outdoor lights and the use of a heat pump system for the heating of the indoor pool. This will result in 2000 tons less every year in CO2 emissions. 

Unlike most other developments Fort Cambridge is being built all in one phase.  This will result in less inconvenience to the prospective residents since they will not be living in a construction site for years.  This fact also affects the rent yield an apartment brings.  The fact that it will not be in a construction site will result in getting the max yield possible from day one.  The average rental return in Malta is between 4 to 5%.

Fortunately, the recession has not affected the Fort Cambridge development adversely.  The impact of the recession on apartment sales was only limited to the period between Jan -Sept 09 where there was a slow-down in sales.  From October 09 to date sales became quite steady and the feel of the market, especially with regards foreign buyers, seems to be taking an upward trend.

Tags: luxury development, Luxury Developments in Malta, luxury homes, Luxury Property, Luxury real estate in Malta, unobstructed sea views