Construction giants join forces to intensify Malta’s building boom

Malta is heading for another surge in large-scale development, as a powerful alliance of well-connected developers positions itself to transform more land into dense projects of flats, retail outlets, offices and hotels.

Operating under the umbrella of BBT Group, the consortium brings together TUM Invest, BT Group, Burmarrad Group and V&C Group, four major players already deeply entrenched in Malta’s construction and property sectors. Behind these companies stand some of the country’s most influential businessmen.

TUM Invest is linked to entrepreneur Anthony (Ninu) Fenech, whose interests span property, healthcare and automotive sectors.

BT Group is led by Oliver Brownrigg, a key figure in engineering and large-scale project execution.

Burmarrad Group is associated with the Gauci family, long active in commercial real estate and the automotive businesses.

V&C Group, one of Malta’s major contractors, was founded by brothers Vincent and Charles Borg, whose company has been involved in some of the island’s largest construction projects.

Marketed as a strategic partnership, the structure effectively consolidates land, capital and construction capacity into a single vehicle designed to fast track large, multi-million-euro developments.

In its first move into the capital markets, BBT has issued a €25 million bond, seeking to raise capital to fund its expansion plans. The funds are earmarked to kickstart what is being pitched as a pipeline of major projects across Malta and Gozo.

At the centre of these plans is a flagship development in Burmarrad.

On land that, until a few years ago, formed part of an industrial site, the group is planning a dense commercial complex including a shopping mall, supermarket, offices, restaurants and extensive parking. The project is designed to maximise commercial returns from every available square metre of land.

But Burmarrad seems to be only the beginning. Around €15 million of the bond proceeds are expected to be channelled into this single project, with the remainder intended to support further developments already outlined in the group’s prospectus.

These include the development of a large tract of land in Żurrieq, the redevelopment of the Calypso Hotel in Gozo into a mix of residential units and hospitality facilities, and the transformation of Trident House in Marsa into additional high-density commercial and residential space.

Beyond these, the group already has a foothold in major sites such as the Centerparc complex in Qormi and The Watercourse offices in Mrieħel, both of which present further opportunities for intensification and expansion.

The same businessmen are also involved in the redevelopment of Fort Chambray together with a Gozitan partner.

Industry sources told The Shift that such ambitions come at a price.

“These are not low-risk investments. They are betting on the construction boom continuing indefinitely,” sources said. “What is clear is that these developers are not planning for a slowdown. They are planning to build more and faster.”

BBT’s rise reflects a wider shift in Malta’s construction landscape.

Smaller operators are increasingly being edged out by consolidated, well-financed groups capable of taking on projects of unprecedented scale. The sector, already dominant, is becoming more concentrated in the hands of a few major players.

The move also places BBT among a growing list of heavyweight developers competing for land, including public space and projects.

In recent years, figures such as Gozitan developer Joseph Portelli (and his associates), Polidano Group, and Paul Attard’s Plan Group have expanded aggressively, acquiring sites and advancing large developments across the islands.

Their connections to those in power helped their ambitions grow further.

With multiple groups now racing to secure land, including in controversial zones outside development boundaries, the pressure on Malta’s limited space is intensifying.

As cranes continue to dominate the skyline, concerns over overdevelopment, environmental degradation and infrastructure strain are only expected to grow.