Issue link: https://maltatoday.uberflip.com/i/729537
5 maltatoday, WEDNESDAY, 21 SEPTEMBER 2016 News GourmetToday every Saturday 16.05pm on TVM Bond funds DIZZ acquisitions CONTINUES FROM PAGE 1 The site in question was ac- quired from the Lands De- partment, with a deposit of €500,000 paid in May 2016. Another €1.3 million of the bond issue will be used for general corporate fund- ing purposes. According to the prospec- tus, two Qui Si Sana apart- ments acquired in August 2016 for €770,000 are now the property of the issuer, Dizz Finance plc. An addi- tional balance of €240,000 is due to the vendor upon completion of construction works on the two apart- ments expected in 2017 – which will be paid by Dizz Finance. Fast-growing group DIZZ Group now oper- ates 19 outlets across Malta, concentrated in the St Ju- lian's, Valletta and Sliema area. Having opened a Ter- ranova megastore in Iklin in June 2016, the group is now scheduled to open another in Fgura in the coming days. It also operates a beau- ty product outlet at Ti- gné Point (The Make Up Store) and four cafeterias through the representa- tion of the Italian franchise Caffé Pascucci. The Group is currently in the process of acquiring a commercial property in Gzira with a view to converting it into the fifth Caffé Pascucci out- let. Subsidiary Dizz Manu- facturing owns a 65-year emphyteutical grant of a plot of land in Mriehel, for industrial development, which is subject to an an- nual €18,000 ground rent payable to the Government Property Department. The group currently stores its merchandise in a num- ber of rented warehouses throughout the island. Through the development of the 1,220 square metre 'The Hub' the group will centralize its warehousing division under one roof. The development will con- sist of seven f loors. Education watchdog grants Sadeen tertiary education licence JEANELLE MIFSUD THE National Commission for Further and Higher Education (NCFHE) has granted Sadeen Education Investment Ltd the licence to operate the American University of Malta, officially rec- ognising the entity as academi- cally equipped to provide tertiary education. The final decision of the edu- cation watchdog was announced yesterday by the government, which in a statement described the decision as "opening a new and positive chapter in Malta's history". "With this important step, the government is implementing the electoral promise of having a sec- ond university, providing plural- ism in tertiary education," the government said. Sadeen Group, a Jordanian com- pany, was granted public land at Marsascala and Bormla to de- velop its private university. Origi- nally announced by the admin- istration as a f lagship project for the south, the controversial deci- sion to grant land at Zonqor Point without public tender was met with a 3,000-strong protest in Valletta. The government, which first proposed to build the AUM over a campus stretching across 90,000 square metres of ODZ land, downscaled the area to 18,000 square metres, with part of the proposed campus being re- located to the Bormla docks. The name "American Univer- sity of…" is best known in the cases of Beirut and Cairo, which for more than a century signified an American style of education in prestigious colleges. According to the government, the project is set to attract some 4,000 students, with a €48 mil- lion input into the economy, set to rise to a yearly €85 million. The investment in its totality will create 470 jobs. "The AUM underwent both academic and financial analysis, with the approval being carried out in the most professional man- ner. This process should serve as a yardstick for similar exercises in the future," the government said. The AUM will be providing five Bachelor courses, a Masters course and four PhD courses. "This project will also inject new life in the south of Malta. Whilst the Opposition remains against the project at all costs, the government is satisfied with the result," the government said. Diane Izzo to justice' are not afraid of challenges. This is what makes us the Nationalist Party." Earlier the crowd was addressed by deputy leaders Mario de Marco and Beppe Fenech Adami. De Marco called on the coun- try and party supporters to unite behind the party's leadership to ensure that Malta remained truly independent and not continue serving the interests of the few. Beppe Fenech Adami, deputy PN leader for party affairs, said that this independence day would mark the birth of a movement – led by Simon Busuttil – which would do away with the most corrupt gov- ernment in Malta's history. "Today we have a country where only the few succeed, like the Chi- nese entrepreneurs who are given national assets for nothing, the Jordanian businessman who was given Zonqor, and Cyrus Engerer who was sent to Brussels with a large salary," he said. Fenech Adami told party sup- porters to be proud to be part of the Nationalist family and called on them to be ready because the party would be seeking their sup- port in the coming months. "To those who declared they will fight us with knives and axes, I say today we will fight back with hon- esty and truth, and with our best weapon, Simon Busuttil," he said. Malta, Fenech Adami said, de- served a PN government led by Simon Busuttil. "There you will see how we really will succeed all together," he said. The tertiary education institution will be opening shortly at Dock No1 in Bormla Mario de Marco