Issue link: https://maltatoday.uberflip.com/i/1535229
MATTHEW FARRUGIA mfarrugia@mediatoday.com.mt 3 maltatoday | SUNDAY • 11 MAY 2025 NEWS GUARANTEED INVESTMENT PLAN 2028 *This limited- me opportunity will close earlier if the offer is fully taken up. The value of your investment may go down as well as up in case of a claim before maturity. If held to maturity your ini al contribu on plus a fixed return of 6.15% thereon are guaranteed by MAPFRE INVERSIÓN SV, SA, a company authorised and regulated by the Comisión Nacional del Mercado de Valores (CNMV). This guarantee is subject to condi ons as outlined in the product documenta on. This advert is issued by Bank of Valle a p.l.c.,58, Triq San Żakkarija, Il-Belt Valle a VLT1130. Bank of Valle a p.l.c. is enrolled as a Tied Insurance Intermediary under the Insurance Distribu on Act, Cap. 487 of the Laws of Malta for MAPFRE MSV Life p.l.c. (MMSV). MMSV is authorised under the Insurance Business Act, Cap. 403 of the Laws of Malta. Both en es are regulated by the Malta Financial Services Authority. The product is manufactured by MAPFRE MSV Life and is distributed by Bank of Valle a p.l.c. LIMITED TIME OPPORTUNIT Y SUBSCRIPTIONS OPEN ON 05 MAY UNTIL 29 MAY 2025* 3-YEAR TERM - EURO GUARANTEED PAYMENT OF A FIXED RETURN OF 6.15%, WHICH IS PAYABLE AT THE END OF THE 3-YEAR TERM, IS GUARANTEED IF PRODUCT IS HELD UNTIL MATURITY. 6.15 % ANNUALISED RETURN OF 2.01% CONTACT US Former Labour minister Karmenu Vella is part-owner of plot neighbouring Zurrieq field slated for new road LABOUR Party veteran Kar- menu Vella owns a third of the land belonging to a developer who wants to build a road on government agricultural land in Żurrieq's Tal-Bebbux area. The issue concerns a pro- posed development on a pri- vate plot of land and a request by one of the owners to have a new road built through a gov- ernment-owned field. However, Vella distanced himself from the controversial zoning application when con- tacted by MaltaToday. The for- mer European commissioner clarified that he did not apply for the zoning permit. The application was filed in 2022 on behalf of Francis Spi- teri, who owns Tal-Karmnu Construction Company. Vella said whether or not the road is constructed is of no in- terest to him. "It makes no dif- ference. Whatever is on that government land does not af- fect me," he said. The zoning application is seeking permission for the con- struction of a series of build- ings and the new road, running through government-owned agricultural land. The field in question has been tilled by two farmers with a strong connection to the area. In an interview with MaltaTo- day last month, farmers Robert Bondin Carter and Annalisa Schembri, appealed to the gov- ernment to reverse the eviction notice. The case has angered many in the Żurrieq community. Ac- tivists, farmers, and resident groups blasted the Lands Au- thority for agreeing to termi- nate the agricultural lease to satisfy the request made in the zoning application. A Żurrieq native, Vella, known as Il-Guy, served as minister under a number of La- bour governments, having been elected to parliament between 1976 and 2014. He then became EU Commissioner for the en- vironment, fisheries and mari- time affairs. He is an architect by profession. The land at the centre of con- troversy was added to the devel- opment zone in 2006 and gov- ernment entities and ministries continue to invoke this change as an excuse for acceding to the request filed by Francis Spiteri. However, the Lands Ministry has stressed that the field which will be turned into a road will only be developed if there is "a project beneficial to the Żurrieq community, which is agreed upon by the local council". Left: Karmenu Vella