Roderick Galdes insists 'I have nothing to hide'

Social Housing Minister Roderick Galdes has said he has "nothing to hide" and that his declaration of assets lists all properties he owns. 

Galdes was speaking to journalists on Monday, a day after Times of Malta revealed he bought a penthouse, its airspace and garage in Victoria, Gozo for €140,000 from Joseph Portelli’s Excel Investments.

The minister signed a promise of sale agreement for the shell form property in 2024 and final deed earlier this year. He says he paid a €5,000 "reservation fee" to Portelli in 2021 to lock in the penthouse price. 

Speaking to reporters outside parliament on Monday morning, Galdes said the penthouse was a "four-room, 84 square metre apartment" that is still in shell form. 

"You can't compare Gozo property prices in 2021 with prices today," he said. 

He denied suggestions that the Victoria property development, Ħal Gelmus, would feature any social housing units. 

"These are Nationalist Party allegations designed to sully my reputation," he said. 

Galdes said his property portfolio - which includes apartments and offices in Malta as well as property in Sicily and the UK - was all declared to parliament. 

His cabinet declaration of assets was identical to that he filed with parliament, he added, saying "I have nothing to hide." 

"I have loans like every other Maltese citizen," Galdes said. 

While all MPs are required to file an annual asset declaration with parliament, Ministers and Parliamentary secretaries must also file a separate, more detailed asset declaration. The latter have not been made public since 2023. 

PN: No wonder they won't publish assets

Nationalist Party leader Alex Borg, who is himself from Gozo, said it was "no surprise" the Robert Abela-led government was no longer publishing declarations of assets. 

"This is a government for whom scandals have become the norm, a government turns a blind eye to everything and knows that no one and nothing can hold it to account," Borg said.

He said Galdes should take account of his actions, and said Prime Minister Robert Abela must give the public an explanation and take action in the circumstances.

He pointed out how while the Affordable Housing Minister can enjoy "special deals", families and young people face exorbitant property prices. 

A recent study revealed how the average asking price for an apartment is now €414,600, around €40,000 higher than a year ago.

Borg said he wants a fair system that provides everyone an opportunity to become a homeowner, not because they have access to some "good deal" but because they can afford to purchase a property.

Galdes: 'Let's look ahead' on Malita

Galdes was also asked about an ongoing controversy concerning Malita Investments, which is listed on the Malta Stock Exchange but is 80 per cent government-owned. 

Malita has run into financial trouble and its major housing project is currently stalled. Its chairman resigned last week on the same day the company's former chair, Marlene Mizzi, accused Galdes of "hobnobbing" with contractors engaged by Malita and trying to meddle with the company's work. 

Galdes acknowledged that he and Mizzi "did not agree on some points" but sought to put the issue behind him. 

He noted that Malita's board of directors have denied claims of political interference. He did not respond when asked if he denied claims that he was "hobnobbing" with Malita contractors.