The man who sold his share of a Valletta property to Mark Gaffarena and saw him make a hefty profit after its sudden expropriation says the expropriation “stinks”, and those involved should be brought to justice.  

Last week this newspaper revealed how the government bought half the ownership of the property in Old Mint Street for €1.65 million.

The government paid Mr Gaffarena through different parcels of land and €516,390 in cash. Questions were raised about why the government is expropriating the property in a staggered manner after it is bought by Mr Gaffarena.

The government first expropriated the one quarter ownership Mr Gaffarena already held, and then expropriated the second quarter a few weeks after Mr Gaffarena had just bought it. He made a profit of €685,000 in less than two months.

Tonio Mercieca who sold the second quarter to Mr Gaffarena said he failed to understand why the government had not dealt with him directly.

“We inherited our part ownership of that property. We sold our quarter to [Mr] Gaffarena for €139,762. It was expropriated a few weeks later for €822,500.

“I don’t mind people making money, but this stinks,” Mr Mercieca said. The ownership of the 445-square-metre property was split into four quarters, each owned by different parties. The government admitted it never entered into negotiations with any of the other owners.

Mr Mercieca said Mr Gaffarena has already sealed a promise of sale agreement to acquire another portion of the property. 

He is negotiating contracts to acquire what is left, knowing the government will be expropriating the rest of it.

After this newspaper revealed the story, the government said it intended to buy the other half next year. Mr Gaffarena’s recent promise of sale agreement expires in April next year.

“I don’t mind people making money and I don’t begrudge what Mr Gaffarena got. But if the government wanted this property so badly why did it never enter into negotiations with us? I want the people within government who were part of this to be held accountable. I want justice,” Mr Mercieca said. 

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