One of the most high-profile and ambitious real estate ventures in Malta, the Mercury Towers development spearheaded by developer Joseph Portelli, has reported a significant financial loss in its latest annual accounts. According to the audited financial statements for the year ending 2024, the company behind the project, Mercury Towers Ltd, registered a net loss of €12.7 million. This figure represents a dramatic reversal from its reported profit of €5.7 million just a year prior....

Continue Reading