MONEY ISSUE 90

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THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION ISSUE 90

COVER STORY

SILVIO DE BONO

ANTICIPATING TOMORROW 20

From basement startup to diversified group built on vision

THE SPACE BETWEEN US

WRITTEN IN STONE

MALTA, THE CITYSTATE ECONOMY

24 How smarter design could improve mental wellbeing

28 What it truly takes to build for the ages

34 Why density now shapes growth, productivity and quality of life

With you for the journey.

At Sparkasse Bank Malta, we believe lasting success is built on enduring relationships.

Our approach is personal, precise and resilient - designed to navigate every stage of your financial journey with confidence.

Banking | Custody | Investment

T. +356 2133 5705 E. info@sparkasse-bank-malta.com Sparkasse Bank Malta plc, 101 Townsquare, Ix-Xatt ta’ Qui-si-Sana, Sliema SLM 3112, Malta

Speak to an advisor today.

Sparkasse Bank Malta public limited company (the ‘Bank” is a public limited liability company registered in Malta with registration number C27152 and registered office at 101 Townsquare, Ix-Xatt ta’ Qui-si-Sana, Sliema SLM3112, Malta. Sparkasse Bank Malta public limited company is licensed by the Malta Financial Services Authority to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta), to provide investment services and custody and depositary services in terms of the Investment Services Act (Cap. 370 of the Laws of Malta), and is authorised to act as custodian of retirement schemes in terms of the Retirement Pensions Act (Cap. 514 of the Laws of Malta).

WELCOME

Designing what comes next — There was a

design impacts mental health, what makes

time when architecture was often treated as a

buildings endure, and why governance remains

finishing touch — something visual, something

inseparable from the built environment. We

to admire once the real decisions had already

meet thinkers, creators and operators shaping

been made. Today, that view feels increasingly

projects, places and conversations that will

outdated.

outlast the current cycle.

Design is no longer cosmetic. It is strategic.

This edition is not anti-growth. Nor is it nostalgia disguised as criticism. It is a case for better

The way we plan streets, shape skylines,

growth. Because the next phase of Malta’s

restore heritage, design offices, build homes,

success will not be measured only by GDP,

and connect communities now influences far

cranes, permits or visitor numbers, it will be

more than appearances. It affects productivity,

measured by whether we create places people

mental well-being, tourism value, environmental

genuinely want to live in, work in, invest in and

resilience, investment confidence, and,

pass on.

ultimately, the quality of everyday life.

The best architecture always does more than In a compact, ambitious and fast-moving

occupy land. It creates value around it. The

country like Malta, these questions matter more

smartest planning does more than regulate

than ever.

development. It aligns ambition with quality.

And the strongest economies understand that

Our islands are living a paradox. We have seen

built environments are not side issues. They are

growth, confidence and development on a scale

competitive advantages.

few would have predicted a generation ago. Yet success also brings pressure: denser towns,

Malta has talent. Malta has a capital. Malta has

heavier traffic, rising expectations, strained

momentum. The real question is whether we

infrastructure, and a growing public demand for

now have the vision to match it.

places that feel better to live in — not just more profitable to build in.

On our front cover, Dr Silvio De Bono, founder of IDEA Group, reflects on leadership, education, care, and the philosophy of anticipating tomorrow. His journey from a basement consultancy to a diversified organisation spanning multiple sectors is a reminder that sustainable growth is rarely accidental. It is built through foresight, discipline, and the willingness to evolve.

Inside, we also explore how tourism must move from volume to value, why Malta increasingly behaves like a city-state economy, how

E D I T O R Anthony P. Bernard

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MONEY is published by Be Communications Ltd. All rights reserved. The content of this magazine, including articles, images, designs, and any intellectual property, is owned and protected by Be Communications Ltd. Unauthorised reproduction, distribution, or transmission of any part of this magazine is strictly prohibited without prior written permission.

Be Communications Ltd. retains all intellectual property rights in the content published in this magazine, including but not limited to copyrights, trademarks, and patents. Any unauthorised use, reproduction, or commercial exploitation of this content violates applicable laws and may result in legal action. Opinions expressed in this magazine are those of the respective contributors and do not necessarily reflect the editor's or publisher's views. While every effort is made to ensure accuracy, Be Communications Ltd. assumes no responsibility for errors or omissions in the magazine's content, advertisements, or related materials and disclaims liability for the accuracy, legality, or originality of content provided by clients.

06

ISSUE 90

MONEY

Your forever young feeling.

Find yours in a Hästens.

Experience this feeling in your nearest Hästens store.

BOOK YOUR SLEEP TEST TODAY HASTENS.COM.MT

CONTENTS

12

24

34

By design or by default

The anatomy of 2,370 decisions

In this analysis, Justin Mizzi argues that Malta’s tourism sector has outgrown its growth model.

In this reflective account, architect Danica

As arrivals surge, the challenge is no longer

Cachia Mifsud, partner at AP Valletta, takes

expansion—but aligning regulation, design, and

us behind the construction of the new St John's

strategy to deliver value.

Co-Cathedral Museum façade, a project in which 2,370 carved stones, digital precision, and centuries-old craft converge at one of

16

Valletta's most historically sensitive sites.

Written in stone

The space between us

Archaeologist and cultural heritage specialist Edward Calleja reads buildings the way others

Your office layout, your commute, the view

read history — through material, memory, and

from your window — all quietly shaping your

time. He speaks with Lea Hogg about what

mental state. Psychotherapist Danjela Falzon

Malta's evolving skyline gets right, what it

tells Dayna Clarke Camilleri why the spaces we

risks losing, and what it truly takes to build for

inhabit matter far more than we realise, and what

the ages.

better design could change.

20

COVER STORY

Anticipating tomorrow

28

38

Malta, the city-state economy

The cost of good design— and the value we tend to overlook

Economist JP Fabri argues that Malta's

As Malta's construction industry accelerates,

future depends on recognising a simple

a deeper question emerges: are we building

reality: economically, the island behaves more

for immediate returns or long-term value?

like a dense city than a country. Growth,

Steven Risiott explores how cost, design, and

competitiveness and quality of life will

decision-making shape not just properties, but

increasingly hinge on how intelligently Malta

the performance, identity, and future of our

designs its urban environment.

built environment.

32

42

Redesigning the game: inside the new Portomaso Casino

Karolina Pelc on the strategy behind a high-value exit

Keith Pillow, founder and creative director

From casino floors to boardrooms,

Dayna Camilleri Clarke sits down with

of DAAA Haus, breaks down the thinking

Karolina Pelc's journey to founding and

Dr Silvio De Bono, the founder who built

behind the Portomaso Casino refurbishment—

exiting her startup BeyondPlay is anything but

IDEA Group from a basement office into a

an intentional shift away from excess towards

conventional. Now stepping into a new chapter

diversified organisation spanning consulting,

restraint, flow, and experience, redefining

as an investor, in an interview with Lea Hogg

education and care, all driven by one belief:

what a modern casino can feel like in Malta's

Pelc reflects on the realities of building under

true leadership means anticipating tomorrow.

evolving hospitality landscape.

pressure and navigating acquisition strategy.

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CONTENTS

44

'4

62

The robot next door

Post-tensioned concrete: the silent concept redefining Malta's skyline

The new rules of talent: why Malta’s salary landscape is changing

reshaping businesses is quieter, smarter, and far

As Malta builds higher, faster, and denser,

As Managing Director of Boston Link Malta,

more practical — and some of its most compelling

the engineering behind its skyline is quietly

Lourens Pahud de Mortanges shares

work is happening right here in Malta, as Lea

evolving. Stephen Mallia examines how

insights from the firm’s latest salary survey,

Hogg discovers in conversation with engineer

post-tensioned concrete is transforming

examining how regulation, consolidation,

James Attard Kingswell.

construction, delivering lighter structures,

and shifting talent priorities are reshaping

faster projects, and smarter buildings in an

compensation, leadership expectations, and

increasingly constrained island market.

long-term workforce strategy across Malta’s

Forget the flashy humanoids grabbing headlines in Silicon Valley. The robotics revolution

48

iGaming and financial services sectors.

'8

Planning and power: the business cost of weak government

64 Quiet power: the new codes of modern luxury

Manuel Delia asserts that Malta's planning debate is not merely about skylines or aesthetics. At its core lies governance: how

A refined wardrobe built on texture, precision

rules are enforced, discretion exercised, and

and intent—where craftsmanship replaces

legality upheld, factors that ultimately shape

logos, silhouettes stay sharp, and every piece

market confidence, investment risk, and long-

signals confidence, discretion and a deeper

term economic credibility.

understanding of modern luxury dressing.

'2

Work, reimagined: the design of GO Campus As companies rethink how and where people

66

work, office design is undergoing a quiet transformation. MONEY looks at the GO Campus headquarters in Żejtun, designed by A Collective with architecture by AP Valletta, and how the project reflects the evolution of the modern Maltese workplace.

Overbuilt, not overdeveloped: rethinking density for Malta's future

60 The i3 that changes everything In the news:

Malta's development debate often centres on

BMW has done something bold—again.

emotion rather than strategy. The real issue is not

The new i3, built on its all-new Neue Klasse

growth itself, but how it is executed. Matthew

platform, isn’t a revival of the quirky carbon-

»

Project Green pushes 10-minute walk vision

Rostkowski examines why, when poorly

fibre city car we once knew. It’s something far

»

Msida Creek remains Malta’s most-watched

coordinated, density risks eroding property values

more important: the electric reimagining of the

and Malta's long-term economic competitiveness.

3 Series, arguably BMW’s most defining model.

MONEY

urban test case »

Paris continues to redesign the modern city

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

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TOURISM

BY DESIGN OR BY DEFAULT Malta’s tourism reckoning

In this analysis, Justin Mizzi argues that Malta’s tourism sector has outgrown its growth model. As arrivals surge, the challenge is no longer expansion— but aligning regulation, design, and strategy to deliver value.

F

or decades, Malta’s hospitality sector has

result has been persistent concerns about

to position Malta as a premium destination—

been shaped by its ability to respond to

overdevelopment, spatial disorder, and

now hinges less on growth in arrivals and more

external demand. Historically, the islands

overtourism, which risk eroding the very asset

on holistic quality: of visitors, experiences,

base that underpins the industry.

services, and, critically, the built environment

hosted foreign military presences; over time,

itself.

this evolved into a modern tourism industry, formally recognised in the early 20th century.

Today, Malta stands at a different inflexion point. With tourist arrivals surpassing four

TAR 2025: A Regulatory Pivot

Following independence, the 1960s marked

million by 2025, the national conversation has

a decisive pivot. Supported by the Aids to

shifted from recovery to the more complex

Industries Ordinance (1959) and related

challenge of managing success. The sector has

policy measures, Malta transitioned from a

achieved notable gains: stronger international

The Draft Tourism Accommodation

fortress economy into a mass-market summer

branding through global operators, improved

Regulations (TAR 2025), published in

destination. This period saw the emergence

connectivity, and extended seasonality.

November 2025, represent the first

of large-scale hotels such as the Corinthia

substantive attempt to realign the sector with

Palace, Hilton, and Sheraton - laying the

However, these gains are increasingly

a value-driven model under the “Recover,

foundations for sustained sectoral growth.

constrained by structural pressures -

Rethink, Revitalise” framework.

Yet this expansion was largely uncoordinated.

particularly infrastructure capacity, urban

While successive governments signalled an

density, and the rapid expansion of bed stock.

At the centre of the proposal is the Tourism

intention to prioritise quality over quantity,

The ambition articulated in the Malta Tourism

Policy Compliance Certificate (TPCC) - a

development often outpaced planning. The

Strategy 2021–2030, and Malta Vision 2050—

pre-planning regulatory filter that requires

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developments to demonstrate their ability to “add value” and enhance the visitor experience before proceeding to a formal application. The framework also restricts new developments to three-, four-, and five-star categories, reinforcing the quality mandate.

Key measures include: •

A 200-room cap on new hotels and extensions;

•

Strict adherence to height limitations in local plans;

•

A ban on new all-inclusive developments;

•

Prescriptive spatial standards, including minimum frontage and courtyard dimensions;

•

Locality-based supply controls, linked to existing bed stock, and

•

Encouragement of international brand affiliations.

Collectively, these measures signal a clear policy shift - from expansion to selectivity.

Where the framework falls short Despite its intent, TAR 2025 risks constraining the very outcomes it seeks to promote, becoming an obstacle to both high-quality design and hotel investments.

1. Insufficient analytical rigour The requirement for only a “high-level business plan” to obtain a TPCC is a critical weakness. In an increasingly saturated market, evaluating “added value” demands

As arrivals surge, the challenge is no longer growth—but how Malta manages it

robust, data-driven feasibility assessments

Malta’s tourism story is no longer one of expansion, but of alignment.

such discretion risks inconsistent application— undermining investor confidence and policy credibility.

3. Prescriptive Standards vs Design Excellence Luxury hospitality is inherently experiential

aligned with international standards. Without

policymakers and investors to make informed

and differentiated. Rigid spatial requirements—

this, regulators lack the tools to differentiate

decisions grounded in evidence rather than

such as minimum frontage widths and

between genuinely transformative projects

assumptions.

courtyard dimensions—risk enforcing uniformity at the expense of creativity.

and conventional developments.

2. Discretion without definition This gap points to a broader need for

The provision allowing authorities to depart

This is particularly problematic in Urban

market transparency. A national tourism

from established criteria for “compelling

Conservation Areas (UCAs) like Valletta, where

dashboard - integrating real-time data

reasons” introduces significant uncertainty.

historic plot configurations are narrow and

on supply, performance indicators, and

In the absence of clearly defined benchmarks

irregular. Here, adaptive reuse depends on

infrastructure capacity - would enable both

for “public interest,” “quality,” or “added value,”

bespoke architectural solutions. (

MONEY

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

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A one-size-fits-all regulatory approach

Memorable quotes and key insights included:

may inadvertently discourage heritage-led

•

We need to protect what is sacred[...] We are confused as a nation. What do we really

development in favour of generic new builds.

want to be, a mix of everything?

4. The 200-Key Straitjacket and the

— Michael Warrington, who also mentioned

Speculative Mechanism of Building Height

the need for having clear, specific zoning

The blanket 200-room limit fails to account for

and policies for luxury and wellness tourism areas in Malta

the needs of the MICE segment, where scale is often a prerequisite. Without the ability to

•

The answer to how we attract the right

accommodate large international groups,

tourists is the same as the answer to what

Malta risks ceding ground to competing

kind of country we want to live in ourselves.

— Winston J. Zahra

Mediterranean destinations offering integrated, high-capacity resorts.

•

Malta is not damned. But without a strategy, we are leaving our greatest advantages underutilised.

Similarly, the strict removal of discretionary

— Reuben Xuereb

height allowances - while addressing past speculative practices - eliminates

•

It’s all about branding: what do we want to

opportunities for integrated design

be known for?

optimisation. Height, when incorporated

— Reuben Xuereb

from the outset, can support higher-quality, more coherent architectural outcomes than

These perspectives highlight a fundamental

incremental additions.

limitation of TAR 2025: regulatory constraints alone cannot turn a destination into a luxury

Finally, uncertainty remains for existing

one. Quality emerges from the interaction

assets. Investors, operators, and financiers

between infrastructure, service standards,

require clarity on how legacy properties—

environmental management, and brand

particularly those exceeding current

coherence.

Regulation alone cannot create a luxury destination—quality is built through infrastructure, design, and identity. thresholds—will be treated in future

Internationally, leading destinations

redevelopment or refurbishment scenarios.

are moving toward performance-based frameworks. For example, Croatia’s 2024

Rethinking the luxury proposition

Tourism Act emphasises environmental sustainability and outcome-based metrics— such as guest satisfaction and carbon performance—over purely quantitative

The limitations of the current approach were

controls.

echoed during a January 2026 Malta Business Network panel featuring industry leaders Michael Warrington, Reuben Xuereb, and Winston Zahra.

A central theme emerged: Malta’s strategy remains overly focused on arrivals, lacking the ecosystem required to sustain a genuine luxury positioning. While perspectives varied on the pace of transition, there was consensus on the need for a clearer, more coherent national vision.

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The future of Maltese tourism lies in experience-led, context-driven design—not scale alone

The Path to Alignment

Ultimately, Malta’s tourism story is no longer one of expansion, but of alignment: aligning

Malta is entering a new phase of tourism

growth with carrying capacity, regulation

development, marked by the arrival of high-

with market realities, and development with

profile luxury brands such as Six Senses and

national identity.

Hard Rock. These projects signal a shift toward experiential, high-yield tourism—beyond traditional mid-market positioning. To support this transition, the regulatory framework must evolve accordingly.

A system overly reliant on fixed, prescriptive rules (like height compliance, room caps, and courtyard dimensions) risks producing architectural mediocrity—standardised developments that fail to reflect Malta’s distinct identity. By contrast, premium

Malta is entering a new phase of tourism development...

destinations are characterised by design excellence, contextual sensitivity, and

As Alan Arrigo of The Malta Chamber aptly

innovation.

mentioned during the recent presentation launch of the Malta Chamber “Rediscover

Achieving alignment requires a more balanced

to Align” report:“When government and

approach, built on four pillars:

authorities align planning and enforcement, operators compete on quality and

1. Outcome-based regulation: shifting from

authenticity, and communities are respected

rigid inputs (e.g., room caps, dimensions)

partners, success becomes sustainable:

to measurable outputs (e.g., sustainability,

happier residents, higher-value visitors,

guest experience)

cleaner and better-kept places, and a healthier

2. Data transparency: establishing a national

year-round rhythm.”

platform for real-time monitoring of supply, demand, and infrastructure capacity 3. Strategic clarity: defining a coherent tourism brand and aligning policy

Justin is a partner

instruments accordingly

(real estate advisory and

4. Design flexibility: enabling high-quality,

valuation) at QP.

site-specific solutions—particularly in heritage contexts.

MONEY

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

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ARCHITECTURE

WRITTEN IN STONE Archaeologist and cultural heritage specialist Edward Calleja reads buildings the way others read history — through material, memory, and time. He speaks with Lea Hogg about what Malta's evolving skyline gets right, what it risks losing, and what it truly takes to build for the ages.

T

here is something quietly

discoveries, and ensuring that

"Buildings that last," he says, "are

reflective about Edward

whatever lies beneath the ground

usually the ones that belong to

Calleja. He speaks softly,

is understood before foundations

their place. They use the materials

as though weighing each

are laid. Perhaps that is why

of the island, they respect the

thought before it settles into

his viewpoint on buildings feels

scale of their surroundings, and

conversation. His tone is calm but

different. When we talk about

they age with dignity rather than

assured, the kind of confidence

design in Maltese architecture,

against it."

that comes from years spent

the discussion quickly moves

observing, researching, and

beyond trends or aesthetics.

For Calleja, what survives is rarely

understanding the story of the

Calleja looks for context and

just what was built well.

Maltese landscape.

permanence.

Calleja is not an architect. His

Design in limestone

training is in archaeology, a

Which of the structures in Malta

discipline that teaches patience,

today will still matter in a hundred

perspective and the slow reading

years? For Calleja, enduring

of time through fragments

architecture is rarely accidental.

of stone and structure. After graduating in archaeology in 2003, he built his career around cultural heritage and field research, eventually leading archaeological work that later became part of a design and engineering consultancy, where he now heads the Cultural Heritage discipline.

Archaeologists like Calleja are often present before construction even begins, monitoring

Edward Calleja

The real measure of a building is not how it looks on the day it opens, but how it continues to function decades later.

Co-Cathedral, the fortifications of Valletta, and the historic urban fabric of Mdina are clear examples of buildings that have demonstrated extraordinary resilience. "Their longevity lies not only in their architectural beauty, but in their deep relationship with place," Calleja explains.

"The use of local limestone, the careful proportions of buildings, and the way these structures engage with the surrounding landscape create environments that feel both coherent and timeless. These are places where architecture, urban planning, and craftsmanship work together to form a lasting cultural identity." (

excavations, documenting

MONEY

Structures such as St John's

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

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ARCHITECTURE

changing lifestyles, Calleja notes.

Their architectural language is unapologetically modern. "The real measure of a building," Calleja remarks, "is not how it looks on the day it opens, but how it continues to function decades later and whether people still want to live there, walk through it, meet in its spaces." Architecture, he suggests, becomes less about the object itself and more about the life that unfolds around it.

Some of the most compelling projects are not entirely new.

Regeneration initiatives such as Ta' Qali Artisan Village reveal a quieter but equally powerful architectural approach, one that respects what already exists, says Calleja. By restoring industrial structures and weaving contemporary interventions through them, the project reconnects craft, heritage, and modern use in a way that feels both rooted and forward-looking.

It is here, perhaps, that Calleja's archaeological instincts surface most clearly. "The buildings that are resilient are often the ones that understand where they stand in the story of a place," he says.

What makes architecture last If predicting a building's longevity sounds speculative, Calleja Historical significance, he

Malta's modern skyline

reflect a broader shift in Maltese

approaches it with the calm

believes, gives architecture its

Calleja is also deeply engaged

development thinking. Rather than

pragmatism of someone used to

cultural depth and continuity. It is

with Malta's contemporary

isolated buildings, these schemes

thinking in centuries. Endurance

not style or decoration alone that

architectural evolution. The

aim to create ecosystems where

rarely comes from spectacle

is lasting, but strategy, planning,

island's skyline has shifted

residential, commercial, and public

or architectural bravado. More

and a deep understanding of

dramatically in the past two

life overlap.

often, it emerges from a careful

context. Calleja references the era

decades, yet the question of

of the Knights of St John. Figures

which structures will endure,

Residential complexes such

and innovation, between

like Cassar, Laparelli, and Gafà

architecturally and culturally,

as Townsquare, a mixed-use

understanding what a place

combined military engineering,

remains open. Large regeneration

development in Sliema centred

already is and imagining what it

urban planning, and architectural

developments are beginning to

around a 27-storey residential

might become.

elegance to create structures

hint at possibilities for impactful

tower, landscaped public spaces,

and cities that remain relevant

urban design. Projects such

retail areas, and the restored

"Buildings that last usually

centuries later. "They show us

as Mercury Towers, the Zaha

19th-century Villa Drago,

interpret their surroundings

that enduring architecture is

Hadid-designed high-rise

and Shoreline Residences, a

rather than imitate them," he says

rarely about decoration alone.

development in St Julian's,

waterfront housing project in

thoughtfully. "They respect the

It's strategy, planning, and a

where multidisciplinary teams

SmartCity, embody a generation

character of a place, but they're

deep understanding of place," he

have transformed underused

of developments responding

not afraid to introduce new

observes.

sites into mixed urban quarters,

to denser urban realities and

ideas. When that balance is right,

18

equilibrium between heritage

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ARCHITECTURE

architecture feels both grounded and forward-looking."

On an island like Malta, that relationship with place is often written directly into the material itself. For centuries, local limestone has shaped the character of towns and villages, lending buildings a colour and texture inseparable from the surrounding landscape. Yet materials are only part of the story. Architecture must also respond to climate, light, and the patterns of human activity.

"The structures that people remember," Calleja says, "are the ones that continue to serve their communities. They adapt, they weather, and they remain useful.

allows architecture to perform as

When asked what advice he would

That's what ultimately keeps a

part of a larger system, enhancing

give today's architects aspiring to

building alive."

both longevity and public value.

timelessness, he smiles. "Design

Everyday heritage and context

Malta's architectural evolution,

culture in mind. Don't chase

Beyond grand monuments, Calleja

he notes, has always been a

trends or visual spectacle. Build

is concerned with a quieter, often-

negotiation between preservation

for people, and build to last.

overlooked layer of architecture.

and innovation. "The island's

Architecture and design become

Traditional townhouses,

history encourages conservation,

timeless when they serve their

vernacular homes, and modest

yet the future demands

community and grow into the life

civic structures are increasingly

creativity," he says. "The projects

around them."

at risk from redevelopment

that endure are those that respect

pressures. "These buildings may

the past while embracing new

Unsurprisingly, his favourite

seem ordinary," he observes, "but

design and technology. Balance is

period remains the Knights

they form the backbone of our

everything."

of St John, whose vision still

with environment, climate, and

towns. Lose them, and you lose the subtle story of everyday life and the way people lived, worked, and built their communities."

"There's wisdom in the ordinary," he adds. "It teaches us how to build well, without having to reinvent the wheel."

Calleja emphasises that architecture is never an isolated act. Buildings endure when they integrate seamlessly with their surroundings, contributing to a coherent urban environment.

"A structure on its own might impress," he reflects, "but it's the streets, squares, and public spaces around it that determine whether it really lives." Large-

There's wisdom in the ordinary.

It teaches us how to build well, without having to reinvent the wheel.

dominates Valletta's streets and Design for communities

plazas. "It's a perfect example of

For Calleja, public perception and

how urban planning, engineering,

cultural relevance are equally

and architecture can combine to

decisive. Buildings are ultimately

create something both functional

measured by the relationships

and lasting," he says.

they foster with the people who inhabit them. "Architecture and

"Every building is a conversation

design belong to its community,"

across time," he concludes.

he says. "Those that resonate

"The ones that endure are those

socially and culturally are the ones

that listen to what came before,

that get remembered, protected,

respond to the life around them,

and loved by generations to come."

and leave space for the future."

Lea is a Malta-based journalist and author, known for her TV programme which focuses on current a)airs, cultural news and in-depth interviews on geopolitics and global issues.

scale master planning, in his view,

MONEY

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COVER STORY

ANTICIPATING

TOMORROW Dayna Camilleri Clarke sits down with Dr Silvio De Bono, the founder who built IDEA Group from a basement office into a diversified organisation spanning consulting, education and care, all driven by one belief: true leadership means anticipating tomorrow.

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COVER STORY

T

wo decades ago, the foundations

the foundations, the small consultancy

of IDEA Group were laid in a modest

began expanding rapidly, forcing the team

basement office at its founder's home.

to move into larger offices much earlier than

Today, the organisation spans consulting,

anticipated. "It started in a basement, and I

higher education and care services, serving

still treasure the time I spent there on my own

businesses, professionals and communities

thinking and trying to foresee the future,"

both locally and internationally. For Dr Silvio De

he recalls. "But eventually we had to move

Bono, the philosophy behind that journey has

because the growth was happening faster

always remained constant.

than we imagined."

The idea was never just to build a business, but to create something that could contribute to society.

What followed was a series of defining milestones that would transform the organisation into a diversified group. Over time, IDEA expanded into digital services and education, and most recently into the care sector. Today, the group operates through three main pillars: consulting through IDEA Advisory, education through IDEA College, and specialised care services. While these divisions may appear distinct, Dr De Bono insists a single strategic vision binds them.

"At their core, all three pillars are about identifying gaps in society and helping to address them," he explains. "Whether we are advising businesses, educating professionals or providing care services, the objective is the

"Good leaders don't manage today. They

same: creating opportunities and contributing

manage tomorrow. They keep the horizon in

to societal development."

mind."

Yet for Dr De Bono, the most important part of this journey is not the organisation's scale, but

Education as a catalyst for transformation

the purpose that has guided it since its earliest days. "I always wanted to do things differently,"

The most transformative moment in IDEA

he says. "The idea was never just to build a

Group's evolution was the launch of its

business, but to create something that could

educational arm, now known as IDEA College.

contribute to society."

What began as leadership training programmes eventually grew into a fully-fledged private

From a basement idea to a growing group

higher education institution offering qualifications ranging from certificates to doctoral programmes.

IDEA Group was founded in 2004 as a

For Dr De Bono, however, the true impact of

management consultancy firm, at a time when

IDEA College lies not in academic credentials,

a handful of traditional players dominated

but in the lives it has changed. "The

Malta's consulting landscape. From the outset,

development of IDEA Academy was one of the

Dr De Bono sought to distinguish the company

most meaningful parts of our journey," he says.

through a more collaborative model. "We

"Not only as a business, but because it gave

never presented ourselves as a know-it-all

opportunities to people who believed their

consultancy," he explains. "Our approach was

career had reached a dead end."

always about partnering with clients. Together we identify challenges, and together we

Many of the students who enrol are mid-career

develop solutions."

professionals juggling demanding jobs, family responsibilities and the desire to improve their

MONEY

Growth came sooner than expected. After

prospects. Traditionally, pursuing tertiary

months spent carefully planning and laying

education at this stage of life was difficult (

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

21

COVER STORY

due to rigid academic pathways and entry

he says firmly. "Anyone who agrees simply

requirements. IDEA College sought to change

because I have asked something to be done

that.

does not belong in the organisation."

"We created opportunities for people who could not pursue their dreams earlier in life," Dr De Bono explains. "Today, many professionals

The challenge of people management

have returned to study, changed career paths or achieved promotions because of the

If leadership is about anticipating the future,

education they received here."

people management remains one of its most complex dimensions. For Dr De Bono, the

During graduation ceremonies, he says, it is

greatest challenge is not hiring talent but

not uncommon for students to tell him that

building an environment where individuals

enrolling at the institution allowed them

feel empowered to speak openly and think

to fulfil a lifelong ambition. "Those are the

independently. "In many organisations,

moments that remind you why you started."

and particularly in closed societies, people sometimes hold back because they worry

Leadership beyond the present

about what others will think," he says.

Encouraging authenticity and critical thinking

Central to Dr De Bono's philosophy is a concept

is therefore essential. "One of the biggest

he describes as anticipatory leadership.

challenges today is motivating people to

Over the past century, leadership theories

express what they truly believe rather than

have evolved from traditional management

what they think others want to hear." By

models to transformational and transactional

promoting an open management culture, he

approaches. For Dr De Bono, however,

believes organisations can unlock greater

leadership ultimately comes down to foresight.

innovation and stronger collaboration. "The

"In my management teaching, I often speak

last thing I want is people who are an extension

about anticipatory leadership," he explains. "It

of myself. I want people who bring their own

is the idea that the leader today must define

perspectives and ideas."

the organisation of tomorrow."

This perspective emphasises the distinction

A shifting economic landscape

At the same time, global challenges such as climate change are increasingly shaping

between management and leadership.

"Managing people focuses on today," he says.

Beyond the internal dynamics of leadership,

economic decision-making. "Global warming

"Leadership focuses on tomorrow. When you

Dr De Bono closely observes the broader

will have a significant impact on national

lead properly, you prepare the organisation for

economic and societal trends shaping Malta

economies and individuals alike," he notes. For

the future so that tomorrow you can manage

and the global economy.

businesses, this means adapting strategies to navigate both economic uncertainty and

the day after."

One of the most pressing issues, he believes,

societal transformation.

It is a philosophy that has shaped IDEA

is the need to strengthen skills development.

Group's approach to navigating change, from

"Education systems must place greater

technological shifts in education to emerging

emphasis not only on academic subjects

opportunities in sectors such as healthcare

but also on numeracy, financial literacy and

and digital innovation.

values," he says. Without strong personal

One area where these shifts are particularly

values, he warns, professionals risk losing

visible is the care sector. Like many European

At the heart of this approach lies a set of

direction. "Competence alone is not enough.

countries, Malta is experiencing demographic

personal values that Dr De Bono considers

If individuals lack personal values, they

changes that are placing increased pressure

non-negotiable: honesty, transparency

can easily lose focus, vision and the right

on healthcare and social services. Ageing

and commitment. "When I recruit people, I

attitude."

populations and workforce shortages are

do not necessarily look for those with the

The future of care

creating new challenges for policymakers and

best degrees," he says. "What I look for are

At a national level, he believes governments

individuals who are honest, who challenge me,

must also exercise greater discipline in

and who are fully committed to what they do."

economic planning. "Many countries have

Through its care initiatives, IDEA Group

He is particularly wary of surrounding himself

lived beyond their means," he says. "Profit has

seeks to address some of these gaps by

with individuals who simply echo his views. "I

sometimes been prioritised over the well-being

developing services focused on rehabilitation,

do not want to be surrounded by yes-men,"

of people."

respite care, senior wellness, and support

22

ISSUE 90

providers alike.

MONEY

COVER STORY

also the opportunities we provide to students, professionals and communities." Yet even as the organisation evolves, the fundamental lessons of entrepreneurship remain unchanged. His advice to aspiring leaders is simple. "Be ready to fail, but never give up," he says. And while ambition is essential, it must be grounded in reality.

"Do not just think big. Dream big, but start working within your own environment," he

Hard work, perseverance and commitment are essential. But equally important is the ability to anticipate what others may not yet see. for persons with disabilities. For Dr De Bono,

that share similar values. "Hard work,

the motivation is not purely commercial.

perseverance and commitment are essential,"

adds. "If you try to swim in the ocean when

"In the healthcare sector, we are not simply

he says. "But equally important is the ability to

you can barely swim, you risk drowning."

building a business," he says. "We are creating

anticipate what others may not yet see."

For Dr Silvio De Bono, the lesson is clear:

opportunities while filling a real gap in society."

Even after years of leadership experience,

leadership is not about managing what exists

Private operators, he believes, can play an

uncertainty remains part of the process. "I still

today, but about building what will exist

important role in supporting national systems,

have doubts," he admits. "But having doubts is

tomorrow. And for those willing to keep their

provided they operate responsibly and with

part of success. Making decisions in uncertain

eyes on the horizon, the possibilities are

the right values. "The focus must always

situations is part of the journey." Academic

limitless.

remain on quality, sustainability and the well-

training, he adds, helped him move away from

being of the individuals we serve."

emotional decision-making towards a more rational approach to strategy and leadership.

Competing through vision

Dayna is a senior speech and language

Despite operating in increasingly competitive

Dream big, start small

sectors, Dr De Bono believes long-term

therapist, and the founder of Malta Speech Therapy. She is a former editor at the Malta Business Weekly and a

success depends less on imitation and more

Looking ahead, Dr De Bono believes the

prolific writer whose work spans health,

on understanding local contexts. "What works

next chapter for IDEA Group will involve

neurodiversity and travel. Her pieces

in one place does not necessarily work in

continued growth across its three pillars, while

are known for their clarity,

another," he explains.

maintaining the values that have guided the

curiosity and practical

organisation since its earliest days.

insight, making her a

Businesses must therefore invest time in

familiar voice to readers

studying markets, identifying emerging needs

"The future is bright," he says. "We will

and forming partnerships with organisations

continue expanding not only our services but

MONEY

across Malta and beyond.

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

23

S PA C E & M I N D

THE SPACE BETWEEN US

24

ISSUE 90

MONEY

S PA C E & M I N D

Your office layout, your commute, the view from your window — all quietly shaping your mental state. Psychotherapist Danjela Falzon tells Dayna Clarke Camilleri why the spaces we inhabit matter far more than we realise, and what better design could change.

From a psychological

including the culture and general

perspective, how does the

atmosphere within a home or

built environment influence

workplace (i.e. ranging from highly

stress levels and overall mental

supportive to toxic), as well as the

wellbeing?

physical environment, including

T

factors such as temperature, he built environment refers

lighting, noise, access to open

to the physical spaces we

spaces, access to private spaces,

live in, such as our homes,

whether offices are open plan or

workplaces, and schools, as well

having a private layout, and so

as the external environments,

on. Such factors then coincide

including the physical layout of

with our individual differences in

our cities and residential areas.

terms of overall temperament,

Research has found that living

needs and coping mechanisms.

in clean, aesthetically pleasing

For instance, introverts have been

increased stress, anxiety, and loss

surroundings has a positive effect

found to experience high levels

of control over one's environment,

on our overall wellbeing. For

of stress and anxiety if working

causing frustration and emotional

instance, views of nature from

in open-plan environments,

overwhelm. Since density can

a window have been found to

utilise fluorescent lighting, are

increase cognitive load, we may

reduce stress and improve mood.

excessively noisy and have a

feel emotionally overwhelmed and

constant flow of movement

mentally overloaded, which can

around them.

reduce our ability to focus and

Other aspects, such as lighting,

maintain productivity.

colour choices, and access to spaces that promote movement

How do factors like noise, light,

and connection with neighbours,

density and lack of green space

Access to green spaces has a

colleagues, and family members,

affect cognitive performance and

huge impact on physical and

have been found to impact

emotional regulation?

mental wellbeing, with studies showing a 50% or more increased

wellbeing, either exacerbating or Cognitive performance and

risk of stress among those living

emotional regulation are directly

over 1km from nature. The World

What are the most common

affected by factors such as noise,

Health Organisation highlights

mental health impacts you see

light, density, and a lack of green

the importance of access to green

that are linked to people's living

space, as these factors influence

spaces for overall wellbeing.

or working environments?

cortisol levels, attention, and

They note that environments

energy levels. High levels of

such as parks, playgrounds, and

People's living or working

traffic noise, for instance, cause

public gardens can enhance both

environments can have a huge

fatigue, impair working memory,

mental and physical health and

impact on their mental health and

and raise cortisol levels. Likewise,

help reduce illness and premature

overall wellbeing. Such factors

high population density and

death. These benefits come from

include the general environment,

overcrowding are directly linked to

offering opportunities for (

reducing stress levels and anxiety.

MONEY

Danjela Falzon

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

25

S PA C E & M I N D

psychological restoration and stress relief, encouraging social connection, supporting regular physical activity, and reducing exposure to air pollution, noise, and excessive heat.

In your experience, how does poor urban planning contribute to burnout, anxiety or reduced productivity?

Poor urban planning significantly

Many clients work in open-plan offices surrounded by constant movement and noise, yet wonder why they feel drained and stressed by mid-morning.

such as plants. Design elements could also include measures to ensure the smooth flow of team members, minimising distractions when moving from work areas to social or functional areas, such as bathrooms and kitchen water dispensers.

In terms of residential planning, the rate of mental health issues amongst young people is quite concerning, and although several

affects both mental and physical wellbeing. In my work, I've met

natural light and natural elements

historical or cultural significance.

many clients who describe how

affected, reducing productivity

factors are at play, the lack of

and making it harder to cope with

open, green spaces cannot be

everyday challenges.

overlooked. Living in traffic-filled,

the surge in construction across

A recurring theme is the sense of

the Maltese islands has taken a

helplessness and loss of control

toll on them, from constant noise

people feel as these changes

Are there specific design

without access to green spaces

and worsening air quality to the

unfold around them. The stress

elements that consistently

such as parks and public gardens

distress caused by rapid, often

and anxiety triggered by poorly

support better mental health

deprives us of the opportunity

disorienting changes to the urban

planned construction and road

outcomes in workplaces or

to interact socially, engage in

landscape. Many also speak about

infrastructure often spill into daily

residential areas?

physical activity, and experience

the fear of losing remaining green

life, making routine tasks more

spaces, the environmental harm

difficult. When stress levels remain

In the workplace, several design

aspects of spending time in green

caused by overdevelopment,

high, cognitive and emotional

elements can be incorporated

spaces. Spending time in nature

and the loss of buildings with

functioning can be significantly

to improve mental health

helps reduce stress, anxiety

4. Bring nature closer

outcomes. These include

and low mood, whilst boosting

Incorporate green spaces, plants, and natural views to reduce

providing varied workspaces so

concentration and productivity.

stress and restore mental balance.

employees can move between

chaotic urban environments

the calming and restorative

Design for wellbeing: 6 principles that matter 1. Build in choice Create flexible spaces that allow people to move between quiet, private areas and more open, social environments.

2. Prioritise natural light Maximise daylight and avoid harsh artificial lighting to support mood, focus and energy levels.

3. Control noise and flow Reduce distractions through good acoustics and thoughtful layouts that minimise unnecessary movement and disruption.

26

open, social spaces and quiet,

How important is a sense of

5. Design for people, not just density

private spaces. Lighting, colour

control or autonomy in physical

Favour walkable, human-centred environments over car-

schemes and temperature can

spaces, and how can design

dominated, overcrowded spaces.

either promote or detract from

either support or undermine

wellbeing. Therefore, design

that?

6. Reduce cognitive overload

elements would need to include

Avoid excessive noise, brightness and visual clutter—spaces

warm, soft lighting, acoustically

A sense of control and autonomy

should calm the mind, not overwhelm it.

treated areas that minimise noise,

in physical spaces is hugely

calming colours, and access to

important, as many public

ISSUE 90

MONEY

S PA C E & M I N D

spaces are designed in ways that

known for using vertical gardens,

fail to recognise our individual

green roofs, and connector

differences. Take the example

parks to reduce urban heat and

of introverts and extroverts,

stress. Various community-

who thrive in very different environments: introverts are recharged in quiet solitude, whilst extroverts are recharged in group settings. Incorporating flexible workspaces into design, for instance, could enable introverts and extroverts to move between private and more

Studies show a 50% or more increased risk of stress among those living over 1km from nature.

centred initiatives have also been introduced, such as Therapeutic Horticulture programmes that bring together people living in the city to garden to boost wellbeing. Likewise, Copenhagen has incorporated extensive bicycle networks and pedestrian-

open spaces, thereby boosting performance, concentration,

Yes, most definitely. Such

and overall wellbeing. The same

collaboration would go a long

goes for people who are highly

way to creating environments

sensitive or neurodivergent,

which foster greater health and

who would greatly benefit from

wellbeing for people of all ages.

choice in their living and working environments.

From a preventative mental health standpoint, what design

Do you see measurable

mistakes do you think cities

psychological differences

and developers most often

between people working in

underestimate?

thoughtfully designed spaces versus poorly designed ones?

I believe the current focus is on short-term, quick design

To answer this question, it would

solutions with a 'quantity over

be useful for each of us to reflect

quality' approach. What's missing

social cohesion and a sense of

friendly streets into its city

for a moment on the type of

is careful, thoughtful planning

community.

design, promoting healthy living

environment we live or work in,

which prioritises the wellbeing of

or the places we visit from time

the community, including that of

Looking ahead, how important

to time, and really think about

future generations. Green design

will mental wellbeing become

whether such spaces calm or

could incorporate green walls,

as a factor in how cities and

It would be great if Malta could

stress us. Many of my clients

street trees, and green parks

commercial spaces are designed?

also incorporate similar initiatives

work in open-plan offices, for

rather than concrete-laden ones.

instance, surrounded by constant

In Malta, particularly, designers

Urbanisation is increasing, but so

movement and noise, yet wonder

forget about pedestrians and

is awareness of the importance of

Danjela Falzon has been practising

why they feel drained and

prioritise vehicles, when more

taking care of our mental health;

as a psychotherapist since 2011,

stressed by mid-morning. The

pedestrianised areas and

for this reason, I believe this will

supporting adults with anxiety,

psychological impact of trying

safer, well-lit walkways would

eventually be reflected in how

stress, trauma, relationship

to block out excessive stimuli

encourage walking locally when

cities and commercial spaces

difficulties and personal growth.

so you can focus on the task at

possible. Inside and outside, I

are designed. Many cities around

She also works with groups, teaching

hand leads to anxiety and fatigue,

believe we underestimate the

the world are already doing this.

mindfulness to reduce stress and

which in turn affects mental and

sheer cognitive overload we face

Singapore, for instance, is well

anxiety. danjfalz@gmail.com

physical health. Tired, stressed

daily, including bright lights,

employees do not work to their

poor soundproofing, and a lack

full potential and take more sick

of appreciation for the calming

leave, meaning that poor design is

impact of colour schemes and

Dayna is a senior speech and language therapist, and the founder of

costing workplaces financially, as

indoor planting. With increased

Malta Speech Therapy. She is a former editor at the Malta Business

well as the obvious human impact.

loneliness and reduced social

Weekly and a prolific writer whose work spans health,

integration also impacting

neurodiversity and travel. Her pieces are known

Can architects and urban

mental health, designers and

for their clarity, curiosity and practical insight,

planners better collaborate with

planners could create indoor and

making her a familiar voice to readers across Malta

mental health professionals

outdoor spaces that facilitate

and beyond.

during the design process?

coming together and promote

MONEY

and environmentally friendly transport.

into its planning and design.

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

27

ECONOMICS

MALTA, THE

CITY-STATE ECONOMY 28

ISSUE 90

MONEY

ECONOMICS

Economist JP Fabri argues that Malta's future depends on recognising a simple reality: economically, the island behaves more like a dense city than a country. Growth, competitiveness and quality of life will increasingly hinge on how intelligently Malta designs its urban environment.

M

MONEY

alta is often discussed as a country.

infrastructure and communities interact. Once

Yet in economic terms, it behaves

we begin to see Malta through this urban lens,

much more like a city. Its population

the conversation about design, architecture

density rivals that of major urban centres,

and planning changes dramatically. These

its economy is driven overwhelmingly by

disciplines are no longer simply aesthetic or

services, and its physical space is limited,

environmental concerns. They become an

forcing difficult choices about how land,

economic strategy. (

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

29

ECONOMICS

The relationship between cities and

productivity can begin to erode quality of

economic performance has long fascinated

life. Traffic congestion increases the cost

economists. One of the most influential voices

of movement. Fragmented urban design

in this debate is Edward Glaeser, the Harvard

weakens public spaces. Poorly integrated

economist whose work on urban economics

infrastructure strains utilities and services. In

has helped reshape policymakers' thinking

such environments, density becomes a burden

about cities. Glaeser's central argument is

rather than an advantage.

deceptively simple: cities succeed because they bring people, knowledge and opportunity

This is the central paradox Malta now faces.

close together. Density creates productivity.

The island has effectively become a dense

When people interact more frequently, ideas

economic hub, yet it is still often planned and

spread faster, businesses innovate more

governed as if it were a dispersed territory.

quickly, and economic activity intensifies.

If Malta is to continue growing while preserving quality of life, it must begin to think

Malta is already experiencing the economic

about itself explicitly as a high-performance

consequences of this phenomenon. Over

urban system.

the past decade, the island has experienced remarkable economic growth. The economy

Architecture and urban design, therefore,

has grown rapidly, employment has surged,

become economic instruments. The layout of

and entire sectors have deepened. But with

streets, the integration of public transport,

through which ideas circulate. Silicon Valley,

that expansion has come an equally rapid

the design of mixed-use developments,

London and Berlin have all demonstrated

increase in density. More people, more activity

the availability of green spaces and the

how urban design can reinforce innovation

and more economic interactions are taking

efficiency of buildings all influence economic

ecosystems.

place within a finite geographical space.

performance in ways that are often Malta's compact scale means these

underestimated.

interactions can occur even more intensively.

This creates both opportunity and tension.

A well-designed urban environment does more

In theory, the island should benefit from

On the one hand, density can be one of Malta's

than look attractive. It enhances productivity.

the same clustering effects that power the

greatest economic advantages. In urban

Consider mobility. In dense environments,

world's most dynamic cities. Yet realising this

economics, proximity reduces transaction

time lost in transit becomes an economic

potential requires a deliberate approach to

costs. Businesses cluster together. Talent

cost. Efficient transport systems do not simply

architecture and planning.

becomes easier to match with opportunity.

move people more quickly; they increase

Infrastructure can serve more people within

the effective size of the labour market. When

Too often, the discussion around development

shorter distances. Knowledge spillovers

commuting becomes easier, workers can

in Malta is framed narrowly in terms of

occur when professionals, entrepreneurs,

access more opportunities, and businesses

individual buildings or planning permits.

and institutions operate in proximity. These

can draw from a wider talent pool.

The debate focuses on height, volume or aesthetics without fully considering how

dynamics are precisely why cities from London to Singapore continue to dominate the global

This matching effect is one of the fundamental

projects fit within a broader urban system. But

economic landscape.

drivers of urban productivity.

cities are not collections of isolated structures.

On the other hand, density can quickly turn

Housing is another example. If housing

into congestion if poorly managed. Without

supply is constrained or poorly integrated

A building affects the streets around it, the

coherent planning, the very forces that drive

into the urban fabric, the cost of living rises.

traffic patterns nearby, the demand for utilities

High housing costs can limit labour mobility,

and the social dynamics of neighbourhoods.

discourage young talent, and reduce a

When planning decisions are made in isolation,

location's attractiveness to international

the system gradually becomes fragmented.

They are networks.

professionals. Conversely, well-designed residential developments that integrate

High-performing cities do the opposite.

community, services and accessibility can

They integrate architecture, transport,

strengthen economic dynamism.

infrastructure and economic strategy into a coherent vision. Singapore is perhaps the

30

Public spaces also matter more than we often

most striking example. Its urban planning

realise. Cities that encourage interaction tend

approach aligns housing development with

to generate stronger knowledge networks.

transportation corridors, green spaces

Cafés, cultural venues, pedestrian areas

and economic zones. The result is an

and public squares are not merely lifestyle

environment where density is not perceived as

amenities. They are part of the infrastructure

overcrowding but as efficiency.

ISSUE 90

MONEY

ECONOMICS

Malta does not need to replicate Singapore's

This constraint can become an advantage if it

neighbourhoods that encourage interaction

scale or governance model to learn from its

is managed intelligently.

and invest in infrastructure that supports sustainable density.

logic. The lesson is simply that density must be The island has the potential to serve as

designed.

an integrated urban ecosystem in which

It would also recognise that economic

The concept of a high-performance island,

infrastructure, design, and economic

performance and urban quality are

therefore, begins with recognising that

activity reinforce one another. Compact

inseparable. A city that functions well

space is Malta's most valuable and limited

geography allows for shorter distances,

attracts investment, retains talent and

resource. Every planning decision has long-

faster interactions and stronger networks.

fosters innovation. A city that struggles with

term economic consequences. Buildings that

But this only works when planning decisions

congestion, fragmentation and poor design

maximise short-term returns but undermine

are coordinated and aligned with long-term

gradually erodes its own competitiveness.

long-term urban functionality ultimately

strategy.

Malta stands at an important crossroads.

reduce the island's competitiveness.

In recent years, conversations around

The island's economic success over the

This is where architecture intersects directly

sustainable mobility, regeneration of public

past decade has brought prosperity and

with economic policy.

spaces, and more integrated planning have

opportunity, but it has also intensified the

become more prominent. Yet the pace of

pressures associated with density. The next

High-quality architecture is not a luxury. It

transformation must match the scale of the

phase of development will depend on whether

is a form of infrastructure. Well-designed

challenge.

these pressures are managed through deliberate design or allowed to accumulate

buildings are more energy-efficient, more adaptable to technological change, and more

Building a high-performance island requires

through incremental decisions.

resilient to environmental pressures. They can

moving beyond reactive planning toward a

Seeing Malta as a city rather than a country

reduce businesses' operating costs, enhance

proactive urban vision.

changes the entire perspective. It shifts the

Density creates productivity — when people interact more frequently, ideas spread faster, and businesses innovate more quickly. residents' comfort, and strengthen urban

Such a vision would treat architecture not

focus from expansion to optimisation, from

identity.

simply as construction but as a tool for

quantity to quality and from isolated projects

shaping economic and social outcomes. It

to integrated systems.

Similarly, thoughtful urban design can improve

would prioritise mixed-use developments

mobility, reduce congestion and increase

that reduce commuting pressures, design

Architecture, urban planning and economic strategy must therefore move in tandem.

the attractiveness of public spaces. These elements directly influence a firm's ability to

The goal is not simply to build more structures.

attract talent and investment.

It is to build a high-performance island where Increasingly, global talent chooses locations

space, design and economic activity combine

not only based on salaries but on quality

to create a vibrant, resilient and competitive

of life. Professionals evaluate cities based

urban environment.

on livability, accessibility, environmental quality, and cultural vibrancy. Architecture

If Malta succeeds in this transformation,

and urban planning, therefore, play a

density will not be its greatest challenge.

crucial role in shaping a country's economic

It will become its greatest strength.

competitiveness.

For Malta, this challenge is particularly acute because the island cannot expand

JP is a founding partner

geographically. Unlike larger countries

at Seed, a multi-

that can disperse development across vast

disciplinary advisory

territories, Malta must intensify activity within

practice.

a relatively small footprint.

MONEY

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

31

PA R T N E R F E AT U R E

REDESIGNING THE GAME Inside the new Portomaso Casino Keith Pillow, founder and creative director of DAAA Haus, breaks down the thinking behind the Portomaso Casino refurbishment—an intentional shift away from excess towards restraint, flow, and experience, redefining what a modern casino can feel like in Malta's evolving hospitality landscape.

The Portomaso Casino

Given the casino's unique location

energy, yet your design

refurbishment introduces a much

within Portomaso Marina, we drew

introduces softer lighting,

more refined, almost lounge-like

inspiration from a marine and

curves, and a more intimate

atmosphere. What was the core

yachting context. The palette,

spatial rhythm. Was this a

concept driving the redesign,

materials, and detailing reference

deliberate shift away from

and how did you want players

what you would typically find in

traditional casino design

to feel when entering the space?

luxury superyachts: rich timbers,

typologies?

T

soft textures, and controlled he core idea was to move

lighting.

Yes, very much so. It was a deliberate continuation of the

away from the typical The intention was for players to

idea of moving away from the

gold, and dark reds and instead

feel relaxed, comfortable, and

traditional casino typologies.

create a more refined, lounge-

engaged, more like entering a

like environment. We wanted a

sophisticated members' lounge

Instead of creating an intense,

space that feels consistent both

than a traditional casino.

overstimulating environment,

casino language of glitz,

we focused on softening the

There's a strong emphasis

and immersive rather than

Casino environments are

experience through lighting,

on materiality—from marble

overwhelming.

typically intense and high-

materiality, and spatial flow.

flooring to brushed metals and

Curves replace rigid layouts,

sculptural lighting features. How

lighting is layered and controlled,

did you select and balance these

and spaces are broken down into

elements to elevate the space

more intimate zones rather than

without overwhelming it?

day and night, calm, elegant,

one large gaming floor.

The idea of flow always guided The aim was not only to

materiality. We drew inspiration

enhance the player experience

from the movement of waves

but also to reposition the

breaking on a reef, using soft,

casino as a destination for a

continuous curves to guide people

night out, even for non-players.

naturally through the space's

By introducing a more relaxed,

different areas.

lounge-like atmosphere,

32

the space becomes social,

Rather than creating contrast

approachable, and versatile, a

through separation, we allowed

place you can enjoy regardless

materials to blend into one

of whether you are there to play

another, forming layers, depth,

or simply to spend time.

and subtle transitions. Marble,

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PA R T N E R F E AT U R E

and hospitality landscape—and what role does design play in that evolution?

For us, the result was to create a high-quality gaming and entertainment experience that goes beyond the design itself.

The design plays a key role in helping Tumas differentiate Portomaso Casino from other venues in the market.

It repositions the casino as a more refined, contemporary destination, not just for gaming, but for a complete night-out experience.

We hope it will be enjoyed by both brushed metals, and lighting

needs to function seamlessly

elements are not competing

without conflicting with one

features, but part of a continuous

another. These constraints didn't

composition.

limit the design; they helped inform it.

At the same time, the detailing,

Design here isn't decoration; it allows the casino to function seamlessly behind the scenes.

particularly in the custom

The experience of Tumas Group

furniture, draws on high-end

was fundamental in this process.

superyacht interiors, adding a

Their operational knowledge

refined sense of luxury without

allowed us to balance flow,

becoming excessive. The balance

visibility, and security while

comes from restraint, allowing

maintaining the integrity of the

of detailing, comfort, and

regular guests and new audiences

each element to contribute

design. The result is a space that

privacy. High-value players are

over the coming years. At the

without overwhelming the whole.

feels effortless to the guest but

often accustomed to the best

same time, high-traffic venues like

is highly coordinated behind the

environments and typically prefer

this require continuous evolution.

From a functional perspective,

scenes to ensure smooth, efficient

more intimate, controlled spaces,

Tumas Group understands this

casinos are highly operational

operation.

so the goal was not just to meet

very well. They are never afraid

but to exceed those expectations.

to reinvest, push standards, and

spaces with strict requirements

set new benchmarks within the

around flow, visibility, and

The VIP and gaming areas

security. How did these

feel distinctly curated, almost

At the same time, these areas

constraints shape the design

theatrical. How important

are designed to be flexible and

decisions behind the layout?

was it to create differentiated

multifunctional. During major

experiences within the casino,

international tournaments, they

From the outset, we approached

and how did design help

can expand and integrate with

the project as a highly

reinforce that hierarchy?

the main casino floor or operate

industry.

as exclusive breakout spaces.

collaborative process, working closely with a wide team of

Creating differentiated

This allows the design to support

technical experts, including

experiences was very important,

both everyday operations and

operations managers and

but we approached it with

larger-scale events without

customer care, as well as security,

subtlety rather than separation.

compromising the overall experience.

AV, lighting, and M&E consultants.

The VIP and special gaming areas Casino environments are complex,

are designed to blend seamlessly

Looking at the final result,

and every element, from the

with the casino's overall language,

how do you see the Portomaso

positioning of tables to lighting

yet are discreetly positioned

Casino repositioning itself

levels and camera coverage,

and enriched with higher levels

within Malta's entertainment

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ARCHITECTURE

THE ANATOMY OF

2,370 DECISIONS In this reflective account, architect Danica Cachia Mifsud, partner at AP Valletta, takes us behind the construction of the new St John's Co-Cathedral Museum façade, a project in which 2,370 carved stones, digital precision, and centuries-old craft converge at one of Valletta's most historically sensitive sites.

Photos by Julian Vassallo

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A

rchitecture in a city like Valletta is never a solo performance; it is an act of collective stewardship. Here,

architecture is less about walls and more about fabric — the layered urban texture that binds centuries of history into a living city.

At the St John's Co-Cathedral Museum, where a monumental reliquary has been constructed for the Rubens tapestries, that fabric is composed of 2,370 individually carved stones.

On paper, the number reads like a feat of digital parametricism. Yet on Merchants Street, those blocks represent something else entirely: 2,370 moments of human accountability.

To the passer-by, the new façade appears as a melodic relief — a rhythmic composition of rotated pilasters and deep-set niches that echo the Mannerist sobriety of the Cathedral.

Yet behind the hoarding that once surrounded the site, each stone posed a riddle. Building within a UNESCO World Heritage site means the ground is never simply ground; it is a layered archive of archaeological memory.

The robotic and the raw

shared narrative. The work extended beyond

For many team members, this awareness did

There is a compelling friction in the way these

calculating structural tolerances. It involved

not come all at once. It began with drawings,

stones came to life. Their geometry emerged

negotiating with a city that has been evolving

coordination packages and technical

from a synthesis of high-resolution digital

since the sixteenth century.

specifications. Gradually, however, the magnitude of the undertaking became clear:

modelling and the ancient Mediterranean craft A stone rotated by only a few degrees to

this monument was being shaped in dialogue

capture the Maltese sun can create a shadow

with builders who had worked here centuries

Robotic arms carved the precise angles of

that did not exist the day before. That shadow

earlier.

the rotated surfaces, yet it was the human

is a decision. It is the quiet signature of the

eye that watched over the 'franka' limestone,

people shaping the city's skyline.

of stereotomy — the art of cutting solids.

Every intervention, therefore, required surgical precision. The hesitation before the first cut

ensuring the stone's character was not lost to the machine. Every block began as a data point

The weight of responsibility

into stone carried the awareness that the work

in a digital model. On site, however, each block

Intervening within historic fabric carries

would one day be examined with the same

became a physical weight that had to be lifted,

a particular psychological weight. For

scrutiny now applied to the historic masters of

aligned and set by hand.

the architects involved in the project, the

Valletta.

challenge lay in balancing two forces: the The project team, architects, engineers and

desire to contribute something contemporary

Architecture in this context becomes part of a

artisans, gradually became custodians of a

and the humility demanded by heritage.

continuum. The current generation of (

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35

ARCHITECTURE

Those 2,370 blocks represent 2,370 moments of human accountability.

The architect's role shifts from that of creator to mediator, translating technical possibilities into solutions that respect both heritage and modern requirements. architects and artisans represents only a moment in the building's long life.

A symphony of different eras The construction process revealed a dialogue

Architecture as a public contract

between centuries. On-site, the contrast of

In a city as dense with history — and opinion —

tools and knowledge was striking.

as Valletta, architecture inevitably becomes a project of relationships. Every line drawn

A veteran master mason could read the

for a historic site must navigate a complex

franka limestone with his fingertips, sensing

network of stakeholders: the Superintendence

subtle faults invisible to machines. Nearby,

of Cultural Heritage, ICOMOS, national

digital models mapped the irregularities of

authorities, engineers, contractors and a

seventeenth-century walls with millimetre

theatre where practical challenges collided

public that regards St John's Co-Cathedral as

precision, ensuring that robotically carved

with historical constraints.

central to Malta's cultural identity.

stones aligned perfectly with historic masonry.

The 2,370 stones can therefore be understood

This convergence of intuition and algorithm

be installed without disturbing a barrel-

as the physical expression of a negotiated

created what might be described as a

vaulted ceiling?

truce.

symphony of eras — a collaboration in which

How can climate control for priceless artefacts

ancient craft and digital technology worked

How can modern structural systems anchor

Each design decision balances contemporary

together to shape a façade that belongs

themselves within centuries-old masonry?

needs with collective memory. In this sense,

simultaneously to the past and the present.

Solutions rarely emerged from textbooks.

architecture becomes a social document — one that allows the city to evolve without losing its

The theatre of the site meeting

Instead, they grew from discussion —

identity.

The weekly site meeting often became a

sometimes intense — between architects,

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Architecture is never just construction— it is negotiation with history.

that its texture merges seamlessly with the surrounding masonry. Someone must judge, in the moment, whether a tolerance measured in millimetres feels right within a centuries-old wall. This is the quiet legacy of the hand.

What remains is a silent composition in limestone.

It is also the reason architecture in historic contexts remains as much about judgment as

Yet for those who shaped it, every block

about technology.

still carries the imprint of the human decisions that brought it into place.

A monumental reliquary

Valletta's architectural story continues

Ultimately, the 2,370 stones form the

to unfold not only through monuments,

protective casing of a reliquary — a

but also through the care with which each

structure designed to house and celebrate

generation adds its own chapter to the

engineers, conservation authorities and

the Rubens tapestries, which had long

city's enduring fabric.

artisans.

been without a permanent home.

Behind every elegant architectural gesture

The museum's façade does more than

lies a series of decisions shaped by debate,

shelter a collection. It frames a dialogue

Danica, partner at AP Valletta, combines

compromise and collective responsibility.

between heritage and the present,

architecture and structural engineering

between preservation and evolution.

expertise, leading complex projects such as Montenegro

The legacy of the hand Even in a project employing advanced digital

When the final stone was set and the

Smokvica, Phoenicia

fabrication, the final act remains profoundly

scaffolding removed, the intense human

Hotel, Farsons Brewery,

human. Someone must manoeuvre a heavy

infrastructure behind the project — the

and the St. John’s

stone block around an unforgiving steel

debates, calculations, fatigue and pride —

Co-Cathedral extension.

bracket. Someone must hand-finish a joint so

quietly disappeared.

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DESIGN

THE COST OF GOOD DESIGN—

AND THE VALUE WE TEND

TO OVERLOOK As Malta's construction industry accelerates, a deeper question emerges: are we

building for immediate returns or long-term value? Steven Risiott explores how cost, design, and decision-making shape not just properties, but the performance, identity, and future of our built environment.

I

n Malta, the way we build

a direct relationship between

accelerated. Time is scarce, and

has undergone a quiet but

decisions made on paper and the

most stakeholders are balancing

significant transformation.

reality on site.

multiple demands. Delegation is no longer a choice but a necessity.

A few decades ago, property development was often a far more

Today, that relationship is more

hands-on endeavour. Developers

fragmented. Construction has

Within this context, however,

were closely involved in the

become specialised, as it should,

another shift has taken

process, sometimes even taking

and we rely on contractors and

place—one that is less visible

on finishing works themselves. It

consultants to deliver efficiency

but equally consequential. As

was labour-intensive and time-

and technical expertise. At the

construction costs continue to

consuming, but it also created

same time, the pace of life has

rise, driven by both inflation and the intensity of development activity, there is increasing pressure to control expenditure at every stage. Projects are often awarded to the lowest bidder, or gradually adjusted through small compromises to meet financial targets. Nowhere is this more evident than in properties intended for resale or rental, many of which are marketed as "finished to high standards," despite offering little more than ceramic

Precision in detailing

tile flooring and plastered walls.

enhances everyday use without relying on excess.

Simplicity, when intentional, delivers clarity, longevity and quiet confidence. Photo by Ramon Portelli

And yet, there are early signs

Photo by Alex Attard

of a change in direction. As

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Light and shadow shape atmosphere while passively regulating heat. Photo by Alex Attard

Good design is not about increasing budgets, but about directing them where they matter most.

neglecting the underlying quality of the building and the spaces it creates. The result is a growing number of properties that may appear convincing at first glance, yet underperform in everyday use.

These are not simply aesthetic concerns. Short-term savings frequently translate into longterm costs. Decisions regarding

property prices climb, buyers

Designing is, at its core, a

waterproofing, insulation,

are becoming more selective.

prioritisation exercise—deciding

shading, ventilation, and material

Several developers are beginning

where investment will have the

selection directly affect how

to recognise that thoughtful

greatest impact and where it can

a building performs over time.

investment in design and

be reduced without compromising

In Malta's climate, where solar

construction does not simply

the overall quality of the space.

exposure and humidity are constant factors, disregarding

increase cost; it enhances

MONEY

value. In a market that is slowly

This often means focusing on

these considerations often

maturing, this distinction

what is not immediately visible.

leads to increased reliance on

becomes more important.

Robust detailing, for instance, can

mechanical cooling, higher

significantly improve durability

energy consumption, and reduced

One challenge in this conversation

and long-term performance, while

comfort.

is the persistent belief that good

more economical choices can be

design is inherently expensive. In

made in finishes or furnishings.

This highlights a fundamental

reality, the role of the architect

The imbalance arises when this

disconnect in how cost is

is not to inflate budgets, but to

logic is reversed: when projects

understood. Developers tend

work within them intelligently.

prioritise visual impact while

to measure it in euros per (

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

39

DESIGN

Good design is felt, not seen—driven by light, proportion and material restraint. Photo by Ramon Portelli

square metre, while users experience it through energy bills, maintenance, and the day-to-day quality of the spaces they inhabit.

The difference between these two perspectives is where many false economies take root.

Time, too, has become an influential factor. In a fast-

The real cost of a building is not measured at sale, but in how it performs over time.

less equipped to evaluate spatial quality or long-term performance.

As a result, the market tends to favour what is superficially visible at the point of sale rather than what endures over time.

There is an opportunity here to rethink when and how professional input is sought.

Engaging an architect before

moving market, speed is often prioritised—whether in design

shading, and cross-ventilation

structure. Developers, architects,

purchasing a property, rather

decisions, regulatory processes,

are neither new nor expensive,

contractors, and buyers each

than after, can provide clarity on

or construction timelines.

yet they remain underutilised.

operate within their own set

whether a space truly meets a

Choosing the quickest route

When they are absent, buildings

of priorities, which are not

client's needs and whether it can

can be efficient in the short

must compensate by installing

always aligned. Developers may

be adapted effectively within a

term, but it often limits the

retrofitted cooling and heating

focus on return and timelines,

given budget. It shifts the process

opportunity for reflection and

systems and by increasing

contractors on efficiency and

from reactive to strategic, often

refinement. When decisions are

energy use. When they are

buildability, while buyers often

preventing costly adjustments

made under pressure, long-term

integrated from the outset, they

lack the technical tools to assess

later on.

consequences are rarely part of

reduce both operational costs

aspects of a property that are not

the calculation.

and environmental impact. The

immediately visible.

Beyond the individual project, the cumulative impact of these

difference lies not in how much In this sense, good design in

is spent, but in how carefully

This creates a situation in which

decisions becomes increasingly

Malta should not be seen as a

decisions are made.

quality is sometimes understood

significant. In a small and densely

but not always rewarded. Buyers

built country like Malta, buildings

luxury, but as a means to refine performance. Passive design

Part of the difficulty in achieving

can easily compare square

rarely exist in isolation. They

strategies such as orientation,

this lies in the industry's

metres and price points, but are

shape streetscapes, influence

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DESIGN

microclimates, and contribute to

frameworks are essential,

adaptable, durable, and efficient

When it is understood as a

a place's overall experience. Small

but they tend to prioritise

in their operation are inherently

contributor to long-term value, it

compromises, repeated across

measurable parameters such

more sustainable than those

becomes a strategic tool.

multiple developments, can

as height, setbacks, and floor

that rely on added technologies

gradually erode the quality of the

area over spatial or experiential

to compensate for fundamental

Developers who invest in

urban environment.

considerations. When design

shortcomings.

design quality are not simply delivering a product; they are

is reduced to a checklist, the Well-designed buildings tend

outcome is often predictable.

In this sense, the most

building a reputation. Their

to age more gracefully. They

Innovation and critical thinking

sustainable building is not

projects tend to attract more

remain adaptable, require less

require both time and investment,

necessarily the most complex, but

discerning buyers, maintain

maintenance, and retain their

and when these are constrained,

the one that continues to perform

their value more effectively,

appeal. Poorly designed ones, by

the architect's role risks becoming

well over time.

and contribute positively to the

contrast, can date quickly and

procedural rather than strategic.

become less desirable, affecting

wider environment in which they There is also a less tangible, but

sit. Over time, this creates a

not only individual property

A similar pattern can be observed

equally important, dimension to

form of competitive advantage

values but the character of

in discussions on sustainability.

consider: identity. As traditional

that extends beyond individual

entire neighbourhoods. Over

Increasingly, sustainability

dwellings are replaced by

developments.

time, this has broader economic

is presented as a feature—

increasingly standardised

implications.

something that can be added or

apartment blocks designed to

This is not to suggest that

certified. In practice, its most

maximise development potential,

budgets should be expanded

It is also important to recognise

meaningful impact comes from

the risk is not simply aesthetic—it

indiscriminately. Rather, it points

that compliance alone does not

design decisions made at the

is cumulative.

to the importance of making

guarantee quality. Planning

earliest stages. Buildings that are

informed decisions about where Individually, these buildings

investment is most impactful.

may meet market demand. Still,

Some of the most effective design

collectively they can produce

moves are not the most expensive

streets that feel anonymous,

ones—they are the result of

spaces that prioritise yield over

careful thinking, coordination,

experience, and environments

and a willingness to look beyond

which are harder to relate to over

immediate returns.

time.

Improving the quality of the Thoughtful human-centric design

built environment in Malta

offers an alternative approach. It

is a shared responsibility. It

allows new development to remain

requires alignment among all

efficient and contemporary

those involved, as well as a

while still responding to its

broader understanding of what

context, contributing to streets

constitutes value.

that people recognise, navigate comfortably, and ultimately value

If we begin to assess buildings

as places to live, not just assets

not only by how efficiently they

to own.

are delivered, but by how well they perform over time, the

Ultimately, the conversation

discussion shifts. And with it, the

around cost is, in many ways, a

potential to create spaces that

question of perspective. When

are not only commercially viable

design is seen purely as an

but also enduring, adaptable, and

expense, it is often minimised.

genuinely worthwhile.

Steven Risiott is a Maltese architect and co-founder of A Collective, specialising in sustainable, contextA contemporary take on the Maltese townhouse—balancing

driven design with a strong focus on spatial

heritage, privacy and climate through a layered, high-performing

quality, heritage preservation, and contemporary

facade. Photo by Alex Attard

architectural expression.

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BUILDING

KAROLINA PELC ON THE STRATEGY BEHIND A HIGH-VALUE EXIT From casino floors to boardrooms, Karolina Pelc's journey to founding and exiting her startup BeyondPlay is anything but conventional. Now stepping into a new chapter as an investor, she is set to be in Malta in June, marking the start of her European roadshow. In an interview with Lea Hogg, Pelc reflects on the realities of building under pressure and navigating acquisition strategy.

How did your early experience shape

What made your company an attractive

We built a team that combined deep domain

building a company that was of interest

acquisition target for a top gaming giant?

expertise with the ability to execute at speed.

That's rare, and it's one of the first things an

to global players?

W

From the outside, it can look like timing, or

acquirer looks for, because it's the hardest

hen I was not yet 20, working on

even luck. In reality, it was a combination of

thing to rebuild post-acquisition. So yes,

the casino floor was simply a way to

positioning, product strategy and talent that

timing mattered. But timing only rewards

pay for university. But this shaped

made the difference.

companies that have already done the hard work and are ready when the moment arrives.

how I operate under pressure. It was a highstakes, male-dominated environment where

We intentionally made ourselves highly visible

performance was expected.

for a company of our size. We also invested

When did you know it was time to sell

early in brand and presence. We also built

BeyondPlay?

You learn quickly to read people, stay

a dual-product portfolio. One was highly

composed, and make decisions. I didn't have

innovative and had long-term potential. The

I wasn't trying to time the market. But I built

the option to walk away when things were

other addressed a clear and immediate market

with an exit in mind from day one. I identified

uncomfortable, and that builds resilience.

gap. We therefore revived a proven model that

potential acquirers, and I made decisions that

had effectively disappeared after a previous

kept my path open.

Over time, resilience becomes confidence,

acquisition, despite continued demand from

built through repeated exposure to difficult

the market. This decision stretched the team

When the opportunity for an acquisition came,

situations. Startups are no different. They're

and pushed the business to the brink. But it

it wasn't about perfect timing. It was about

uncertain and messy. Most people step back

left no doubt that we could generate value

recognising alignment. The offer was strong

when things become difficult. Founders don't.

today, not just promise it tomorrow.

financially, but more importantly, it allowed

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BUILDING

the product to scale within one of the largest

That principle sits at the core of my book Her

gaming groups in the world, something that

Play. Not as a theory, but as a pattern I've seen

would have taken us significantly longer

consistently across my own journey and in the

independently. It created security for the

founders I now work with. You don't wait for

team, and it was a brand I respected. And

clarity. You create it.

that's the shift most founders struggle with.

You need to avoid asking, "How far can we take

What separates companies that exit from

this alone?" and start asking, "What's the most

those that don't?

powerful way this can grow?" They are not At an early stage, it comes down to the

always the same answer.

founder's vision, how strongly they believe What's the best lesson from negotiating

in the idea, and how quickly they can adapt

your exit?

when reality doesn't match strategy. The ones that succeed combine clarity, conviction,

The outcome is determined by how you

and adaptability. A lot of people have ideas.

position the business and how many options

Fewer can maintain direction when things get

you've created beforehand. Most founders

difficult. Even fewer can adjust without losing

lose their leverage before they even enter

momentum.

negotiations. It was a planned strategy.

We continued to operate at full speed

Execution is expected, and what

throughout, strengthening our sales and

differentiates outcomes is how long that

My main focus, however, is my work as an

customer relationships, pitching fundraising

execution can be sustained under pressure.

author and speaker. I treat it as a startup in its

discussions, and maintaining dialogue with

This is something I see consistently in both

own right - building, testing, and scaling a very

alternative buyers. If you are dependent

the companies I back and the founders and

different kind of product.

on a single outcome, the negotiation is no

leadership teams I work with.

The book launches across Europe on 9 June,

longer balanced. And at that point, you're not negotiating but reacting.

How is Her Play relevant for founders and

with preorders available through Agenda

investors?

Bookshop in Malta and leading retailers across Europe and the US. Around it, I'm building a

What drives a startup's value?

It's essentially an answer to a question I kept

roadshow of keynotes, book signings, and

It depends entirely on the startup's stage. At

getting after the exit: how did that happen so

corporate workshops. And then there's the

an early stage, value is assessed, and at later

quickly? From the outside, it looks like a three-

personal shift: learning to slow down.

stages, value is measured on revenue, growth

year story. In reality, it was a 20-year strategy.

and efficiency. In our case, the acquisition was

Order 'Her Play' here.

not based on financial performance. One of our

The book connects those years and the

products wasn't even live. We were valued on

decisions, the risks, the reinventions and

potential value and strategic fit. What mattered

frames them through a mindset lens rather

was whether what we had built could scale and

than a traditional playbook.

if it could accelerate a larger organisation's roadmap. And ultimately, if the team could

It's less about what to do and more about how

deliver on that promise.

people operate when there are no guarantees.

What's been interesting is how consistently

At that stage, it's not just about buying a

that resonates. Whether I'm speaking to early-

business but about acquiring its potential.

stage founders or experienced investors, the patterns are recognised almost immediately.

How did you balance risk and strategy in Because ultimately, you're not just building or

building the company?

backing businesses. You're backing decisions.

I don't see risk and strategy as opposing forces. Risk is the decision to move; strategy

What are you focusing on now?

is how you execute once you've made that

Lea is a Malta-based journalist and author, known for her TV programme

I've moved from building one company to

which focuses on current

backing many. Today, I invest in early-stage

a)airs, cultural news

What people often call luck is usually the

founders, pairing capital with hands-on

and in-depth interviews

result of a series of decisions made without

operating experience. I also actively mentor,

on geopolitics and

guarantees. You move, you test, you adapt and

including through work with NGOs, with a

global issues.

over time, that builds momentum.

focus on advancing female entrepreneurship.

decision.

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TECH

THE ROBOT NEXT DOOR 44

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Forget the flashy humanoids grabbing headlines in Silicon Valley. The robotics revolution reshaping businesses is quieter, smarter, and far more practical — and some of its most compelling work is happening right here in Malta, as Lea Hogg discovers in conversation with engineer James Attard Kingswell.

W

hile Silicon Valley dazzles with

Associate Professor at MIT, notes that

humanoid spectacles, some of the

practical, problem-solving robots, rather than

most consequential robotics work is

flashy prototypes, deliver value today.

unfolding quietly in Malta. Engineer James Attard Kingswell is building robots not for

Automation, Attard Kingswell insists, need

show, but for usefulness. His machines move,

not be expensive or complicated. "Robotics

grip, and adapt with almost human intuition,

can start small, solve real problems, and

designed to solve real-world problems rather

scale over time without massive investment."

than impress audiences.

Clara Mulligan of West Cork-based HomeBot echoes this approach, producing real-world

Attard Kingswell champions a simple yet

robots such as vacuums, mowers, and other

radical idea: robotics should not be locked in

tools that simplify daily life. These examples

labs; they should augment human work. From

show robotics shifting from perceived luxury

prosthetic hands capable of complex grips to

to necessity, linking everyday practicality to strategic business advantages.

intelligent automation systems that operate reliably under real-world conditions, his

James Attard Kingswell Strategic value for leadership

focus is on machines that function—not just

For leadership teams, robotics is not merely a

fascinate. only large corporations can afford. We're

technical choice, but a strategic lever.

A new AI control system, developed with

breaking that perception," he says. Applied

researchers from the Massachusetts Institute

robotics solves real business problems today:

"Automation is not about replacing people; it's

of Technology, allows soft robots to learn

improving productivity, supporting staff, and

about enabling them to focus on higher-value

movements once and instantly adjust to new

automating repetitive tasks. Sometimes the

work," Attard Kingswell explains. Having held

conditions. "A system is not just hardware,

most powerful innovation is simply solving

both technical and commercial leadership

software, or algorithms," Attard Kingswell

a common problem better. For example, his

roles, he emphasises that robotics allows

observes. "It is a machine interacting with

teams' industrial robots have reduced manual

businesses to restructure work, offloading

practical scenarios. Reliability, safety, and

handling times in warehouses by up to 35%,

repetitive or physically demanding tasks so

maintainability are critical." True innovation,

freeing staff to focus on decision-making

human teams can concentrate on creativity,

he notes, is measured not by theoretical

tasks.

client engagement, and decision-making.

Leaders who adopt robotics early gain

capability, but by consistent performance This philosophy mirrors broader trends in the

measurable advantages: "Efficiency and

field. At the 2026 Robotics Summit in Boston,

consistency are no longer abstract concepts.

From lab to solutions

experts from Boston Dynamics showcased

They become outcomes that shape how a

Robotics is often framed as futuristic or

humanoid robots performing industrial

business scales." Attard Kingswell adds.

unattainable. Attard Kingswell challenges that

tasks, including navigating warehouses and

"Applied robotics is never about the machine

perception. "When people think about robotics,

factories, while meeting operational and

itself; the robot isn't the story, the business

they imagine laboratories or machines that

safety requirements. Alberto Rodriguez,

outcome is." (

outside the laboratory.

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TECH

retail, healthcare, and facility management.

Robotics is evolving from predictable

"These sectors face labour shortages and

automation to flexible, human-aware

rising operational costs. Service robotics is

collaboration. AI is giving robots brains, not

evolving rapidly, and when businesses see

just instructions. Recent advances in machine

a robot solving a real operational challenge,

learning and large language models enable

automation suddenly becomes practical rather than theoretical." Early adoption can translate into measurable impact. For instance, pilot deployments in hospitals have reduced repetitive delivery tasks by 25–30%, allowing nurses and staff to focus on patient care.

Collaboration, not replacement At the heart of Attard Kingswell's philosophy is collaboration. "Robots excel at repetitive, precise, or physically demanding tasks.

Humans are far better at judgment, communication, and problem-solving. When This perspective frames robotics as a tool to

robotics is implemented correctly, it removes

robots to interpret data, read surroundings,

transform efficiency, resilience, and scalability

the most tedious parts of work, allowing

and adapt on the fly. Early pilots are crucial

into tangible results.

people to focus on higher-value activities and

for understanding human interaction, refining

improving job satisfaction."

both technology and implementation, and ensuring real operational value.

Bridge to reality Even the most elegant designs face hurdles outside controlled environments. "The biggest challenge is bridging the gap between controlled environments and real-world complexity," Attard Kingswell explains. In simulations, systems behave predictably. In reality, environments shift, people interact unpredictably, and operational constraints emerge. Pilot projects are essential because they allow systems to be refined through real use and collaboration with the organisations that deploy them. "A robot that works in a lab is interesting. A robot that works reliably in the real world is valuable."

For companies unsure how robotics could fit

Automation is not about replacing people; it's about enabling them to focus on higher-value work.

Road ahead Looking forward, Attard Kingswell envisions practical, scalable, and accessible robotics.

"Our goal is to make robotics useful for organisations of all sizes. We turn advanced robotics into solutions that boost productivity, support teams, and help businesses scale.

Malta could become a hub where robotics isn't just designed in labs, but tested and deployed in real industries. Often, the first step is simply a conversation about where robotics can genuinely support a business."

On society and employment, he is clear: "Automation has always changed the nature of work, but it does not eliminate the need

into operations, Attard Kingswell advocates a process-first approach. "We begin by analysing

This approach positions robotics as an enabler,

for people. In many industries, the challenge

workflows rather than technology. Instead of

lifting the burden of monotonous tasks while

is labour shortages. Robotics can fill gaps in

asking where a robot could be placed, we look

enhancing creativity and decision-making.

repetitive, physically demanding, or difficult-

for bottlenecks, repetitive tasks, or physically

Unlike the spectacle of humanoid robots, the

to-staff tasks. The goal is to augment human

demanding work." This often uncovers

real value lies in how people interact with them

capability, not replace it. The future workplace

overlooked opportunities where automation

to achieve measurable outcomes.

will be humans working with robots."

can assist employees, improve efficiency, and reduce friction. "An external perspective can

Malta, small steps, big impact

help organisations see solutions that exist in

Malta has emerged as an unlikely but highly

other industries but haven't been considered

effective testbed for robotics. Its size allows

Lea is a Malta-based journalist and

internally."

AI and robotics to move from concept to real-

author, known for her TV programme

world deployment quickly. Attard Kingswell

which focuses on current

Expanding across sectors

highlights the value of local collaboration.

a)airs, cultural news

While manufacturing and logistics remain

"Despite its small size, Malta has a strong

and in-depth interviews

strong adopters due to high reliance on

network of universities, researchers, startups,

on geopolitics and

automation and labour challenges, interest

and established companies that we tap into

global issues.

in robotics is expanding into hospitality,

with ongoing projects."

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POLITICS

PLANNING AND POWER The business cost of weak governance Manuel Delia asserts that Malta's planning debate is not merely about skylines or aesthetics. At its core lies governance: how rules are enforced, discretion exercised, and legality upheld, factors that ultimately shape market confidence, investment risk, and long-term economic credibility.

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M

alta's built environment is often discussed as if it were just a matter of taste: too many floors, too little light, streets that seem narrower each

year. But the forces that shape our towns are not mainly aesthetic. They are institutional. The real story is not only what gets built, but also how decisions are made, how rules are bent, and how enforcement is delayed until it no longer matters.

That reality has become increasingly difficult to ignore.

Government planning reform proposals sparked an unusually widespread backlash because they revealed what many already suspected: that the system risks being redesigned not to create better places, but to deliver safer outcomes for those who benefit most from discretion.

At the time, we were compelled to question whether reform would "shift the goalposts" in a way that could effectively neutralise appeals. For business, this was never a niche policy debate. Planning governance is market infrastructure. When it weakens, it causes uncertainty, uneven competition, distorted land values, and a reputational decline that no glossy masterplan can offset.

In Malta, enforcement has historically been the weak link on which everything depends.

A credible planning system signifies a genuine commitment. It assures investors, residents, and

would weaken effective oversight and reduce finality. The

businesses that rules will be enforced predictably,

legal details are important, but the broader governance

decisions can be legitimately challenged, and outcomes will

message is more impactful. When a system is redesigned

be upheld. In Malta, enforcement has historically been the

to make reversals harder, appeals riskier, and oversight

weak link on which everything depends. When illegalities

more procedural than substantive, it encourages pushing

are tolerated or indefinitely postponed, the message to the

boundaries. For businesses, lenders, and insurers, this

market becomes damaging: compliance appears optional,

means increased legal risk, longer timelines, and higher

and time is exploited as leverage.

financing costs.

Earlier this year, unpaid planning fines were reported

Calls by the architectural profession for reform "from first

to have risen to €16.5 million. This figure is not just an

principles" reflected a deeper institutional fatigue with

administrative embarrassment; it also serves as a record

patchwork fixes. The Commissioner for Environment and

of tolerated non-compliance. From a business perspective,

Planning within the Office of the Ombudsman also warned

the implications are clear: if the costs of illegality are

that reform must deliver a system that is transparent,

uncertain, delayed, or avoidable, the market rewards

accountable, enforceable, and fair to third parties.

wrong behaviour. Those who comply with the rules price

Commentary increasingly framed the debate not as a clash

themselves out, while those who can absorb risk or plan

between development and conservation, but as a question

to regularise later benefit from the advantages. This issue

of the rule of law and access to justice.

extends beyond environmental concerns; it becomes a competition problem that disadvantages long-term

That framing resonates beyond planning circles. Integrity

operators and favours speculative strategies.

forms the foundation of predictability, and predictability enables firms to price risk accurately, boards to approve

Every planning system depends on professional judgment.

projects with confidence, and lenders to commit capital

Malta's recurring issue is discretion that is loosely bounded,

without relying on defensive assumptions about influence

inconsistently applied, and hard to justify transparently.

and outcome management.

Over time, that discretion becomes a form of currency:

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valuable precisely because it can be exchanged for

Few policy choices influence market behaviour as strongly

advantage. Policy matters less than proximity. Outcomes

as how illegality is treated. When systems repeatedly create

become negotiable.

routes to legalise what was once illegal, they condition the

The controversy surrounding recent planning bills has

market to view rules as provisional. The government has

highlighted this issue. Critics cautioned that proposals to

argued that certain reforms would bring clarity, including

limit the courts' ability to revoke permits directly, while

stopping development during pending appeals and

directing disputes back through administrative channels,

tightening decision timelines. On paper, that seems like (

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

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POLITICS

certainty. In reality, certainty isn't just about speed; it relies on credible enforcement and real consequences.

Critics warned that the broader reform package risked dismantling safeguards while increasing discretionary power, especially through policy overrides and legal notices. From a market view, the issue is not ideological but behavioural. If regularisation windows and concessions are wide enough, they effectively act as an amnesty.

They indicate to the market that illegality is a temporary problem, solvable later through fees, process, and patience.

The downstream consequences are foreseeable. Land values increase based on speculative expectations of future permissions. Capital moves towards high-risk, highreward strategies rather than long-term quality. Compliant operators face an "honesty premium" or withdraw completely. The penalty is ultimately socialised through infrastructure pressures, reduced amenities, and a built environment prioritising extraction over durability.

Appeals are often seen as a democratic safeguard. They also act as a stabiliser for commerce. Businesses plan, finance, and carry out projects based on foreseeable outcomes. When decisions can be challenged for years, or when oversight becomes less effective, risk increases, and financing costs rise. Banks account for uncertainty in their pricing. Insurers do the same. Listed companies increasingly need to explain this to boards and shareholders.

Concerns raised even within the profession about limited consultation on key legislative changes emphasise how fragile confidence has become. It is tempting to frame this as a conflict between growth and restraint. The more accurate distinction is between a rules-based system and a discretion-based one. A rules-based system is not antibusiness. It is investable.

Markets do not only price projects; they also price jurisdictions. When international observers see planning environments characterised by enforcement arrears, controversy over judicial oversight, and recurring mechanisms for regularisation, they interpret it as a governance indicator. This becomes part of a background risk premium quietly applied to Malta, influencing due diligence questions, valuation assumptions, and investment committee decisions.

This is where planning governance intersects with ESG – environmental, social, and governance criteria used by investors and lenders to evaluate long-term risk and value.

Governance failures in planning do not remain confined to skylines; they spill into broader assessments of regulatory culture: procurement integrity, licensing credibility, antimoney laundering controls, and the basic expectation that a permit means what it says.

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If Malta aims for a built environment that promotes long-term prosperity, businesses should stop viewing planning as a contest over skylines.

In practice, this manifests as higher contingencies, slower deal closures, and more defensive legal structuring.

The same firms assessing planning approvals are also questioning whether approvals are solid, whether enforcement is credible, and whether decisions will hold up under scrutiny. When the state struggles to enforce its own rules openly, honest businesses are left unable to answer simple questions about risk confidently.

If Malta aims for a built environment that promotes long-term prosperity, businesses should stop viewing planning as a contest over skylines. Planning is governance infrastructure. A pro-business planning system isn't about saying "yes" more often; it's about saying "yes" credibly, "no" consistently, and enforcing both with equal seriousness.

That requires rebuilding trust in the institutional chain: clear rules, transparent reasons, meaningful review, and genuine enforcement. Malta's urban form will follow, not because we suddenly agree on taste, but because the system will finally reward quality over proximity to power. That is a civic outcome. It is also a commercial one, and the difference between an economy built for short-term extraction and one capable of sustaining value over time.

Manuel is a civil society activist and writer.

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B U I LT E N V I R O N M E N T

OVERBUILT, NOT OVERDEVELOPED Rethinking density for Malta's future Malta's development debate often centres on emotion rather than strategy. The real issue is not growth itself, but how it is executed. Matthew Rostkowski examines why, when poorly coordinated, density risks eroding property values and

the neighbourhood. Long-term value is linked to liveability.

When an area becomes visually chaotic, congested, and overheated, it slowly erodes its own premium. Buyers become cautious.

Renters demand higher-quality finishes to compensate for poor surroundings.

Malta's long-term economic competitiveness.

Developers increase internal luxury to mask external dysfunction. That is not sustainable

M

economics. That is defensive marketing. alta is often described as

Sliema, and parts of Msida. Towers rise next

"overdeveloped." The word gets

to mid-rise blocks. Balconies clash. Streets

Malta's planning framework, led by the

thrown around in cafés, on social

are narrow, but buildings are tall. Pavements

Planning Authority, operates within an

media, and in boardrooms. But that word is

struggle to hold pedestrians, let alone

evolving policy framework. Height limitations

lazy. The real issue is not development itself.

greenery. Infrastructure lags behind the

have been revised. Local plans have been

It is how we are building, what we are building,

scale of construction. The skyline grows, but

adjusted. In some cases, flexibility has been

and why we are building it.

the urban experience at street level often

interpreted as an opportunity. But flexibility

deteriorates.

without a clear national architectural vision creates inconsistency.

Malta is not suffering from development.

It is suffering from overbuilding. There is

Projects such as Mercury Tower and other

a difference. Development is strategic. It

high-rise developments can be architecturally

We have pockets of excellence. We also have

responds to economic growth, housing

ambitious and redefine a skyline, signalling

stretches of mediocrity. Density done well

demand, infrastructure capacity and long-

economic confidence. They attract

requires coordination between urban planners,

term national goals. Overbuilding is reactive.

international brands and investors. But the

architects, engineers, transport authorities

It maximises short-term gain at the expense

question is not whether towers are good or

and environmental strategists.

of urban quality, environmental impact, and

bad. The question is whether they sit within a

long-term value.

coherent urban strategy.

Density, on its own, is not the enemy. In fact,

When height is approved in isolation rather

cope, that roads are not already saturated,

density is essential for a small island state. We

than within a structured masterplan, the result

that public space expands proportionally, and

cannot afford urban sprawl. Compact cities

is fragmentation. You do not get a district.

that greenery offsets increased heat retention

reduce infrastructure costs, support public

You get a cluster of individual investments

from concrete.

transport, and make services accessible.

competing for attention. And competition

Well-planned density can create vibrant

for attention is not the same as urban

Urban heat is not theoretical. Malta's summers

communities. Poorly executed density creates

quality. From a business perspective, this

are intensifying. More concrete means more

visual chaos, traffic pressure, overheating, and

matters more than many developers admit.

heat absorption. Narrow streets with tall

declining property quality.

Property value is not determined only by

buildings trap warmth. Air-conditioning

square metres and sea views. It is influenced

demand increases. Energy consumption

The problem is not how many people we

by context. Investors assess surroundings.

rises. Sustainability targets become harder to

accommodate. The problem is how intelligently

Tenants evaluate accessibility, traffic

achieve. Suddenly, density becomes an energy

we do it. Look at areas like St. Julian's, Gżira,

congestion, air quality, and the character of

issue.

It is not just about approving additional floors.

It is about ensuring that sewage systems can

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Now consider the property market. Malta's

development with accessible green areas,

It invites policymakers, developers, and

real estate sector has been one of the main

pedestrian priority, retail integration,

designers to think in decades, not quarters.

engines of economic growth over the past

and transport solutions. Density must be

decade. Foreign investment, rental demand,

accompanied by infrastructure scaling.

Imagine a Malta where density is organised.

short-term rentals, and commercial expansion

Without that, density feels oppressive.

Where generous public squares balance high-rise districts. Where street-level retail

have driven construction at a rapid pace.

Speed generates supply. Supply generates

Malta's small size is not a disadvantage. It is an

thrives because pedestrians are prioritised.

GDP. But if quality does not keep pace, the

opportunity. A compact nation can implement

Where new buildings respect climate realities.

market eventually corrects itself.

coordinated urban reform faster than larger

Where property value grows because context

countries. Strategic zoning could concentrate

improves.

International investors are sophisticated.

higher density in clearly defined commercial

They compare Malta to other Mediterranean

corridors while protecting residential areas

That scenario is not utopian. It requires

jurisdictions. They assess long-term stability,

from uncontrolled escalation.

coordination, discipline, and long-term vision.

infrastructure resilience, and urban quality. A market built purely on rapid construction risks losing its competitive edge.

We must ask an uncomfortable question: Are we building assets or inventory? Assets appreciate because they are desirable within a functioning urban ecosystem. Inventory moves quickly but may not hold value in the long term. Malta cannot afford to be an inventory-driven market.

Density is not the enemy. The problem is how we accommodate it.

The argument is often framed emotionally.

Architectural quality must also rise. When

"We are losing our character." "The skyline is

buildings are compressed together, design

ruined." These statements may carry truth,

matters more, not less. Facade articulation,

Malta's next phase of growth will determine

but they lack economic precision. The more

proportion, shadow studies, and material

whether we mature into a design-led economy

strategic argument is this: inconsistent

selection influence how light enters

or continue to react to immediate demand.

density harms Malta's brand.

streets and how spaces feel at the human

The built environment is not neutral. It shapes

scale. Design is not decoration. It is urban

productivity, health, social cohesion, and

psychology.

investment confidence.

residents, expatriates, entrepreneurs and

The construction industry must also address

Overbuilding is easy. Strategic development is

investors. If the daily experience involves

execution standards. Rapid building cycles

difficult. But only one of them secures Malta's

traffic bottlenecks, limited green space,

increase the risk of compromised quality. If

future competitiveness. The real question

construction noise, and aesthetic disorder,

Malta wants long-term property resilience,

is not whether we build more. It is whether

that perception travels internationally.

structural integrity and finish durability cannot

we build intelligently enough to ensure that

be secondary considerations.

density becomes an asset rather than a

Brand Malta is not just about tourism campaigns. It is the lived experience of

liability.

Quality urban environments attract high-value industries. Finance, tech, and creative sectors

Sustainability should not be an afterthought

prioritise environments where employees

used in marketing brochures. It should drive

Malta does not need less ambition. It needs

want to live. Urban design influences talent

early-stage planning decisions. Green roofs,

better alignment between ambition and

retention. Talent retention influences GDP.

permeable paving, shading systems, and

planning. When density is guided by vision

renewable integration should become baseline

rather than opportunity alone, it stops feeling

expectations rather than premium upgrades.

like pressure and becomes progress.

Overbuilding undermines that chain. So what does rethinking density actually mean?

It means shifting from plot-by-plot approvals

This is not anti-development rhetoric.

to district-level planning. It means designing

Malta needs housing. It needs commercial

clusters with coordinated heights, consistent

expansion. It needs investment. But

Matthew Rostkowski, founder of Tabone

materials, and integrated public space. It

development without strategy becomes self-

Design Studio, is an interior

means increasing density while simultaneously

defeating.

designer specialising

increasing amenity.

in bespoke spaces for The phrase "overbuilt, not overdeveloped"

residential, commercial,

High-density districts around the world

forces clarity. It shifts the conversation from

and retail projects.

succeed when they combine vertical

emotional resistance to structural analysis.

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POST-TEN C The silent concept redefining Malta's skyline

As Malta builds higher, faster, and denser, the engineering behind its skyline is quietly evolving. Stephen Mallia examines how post-tensioned concrete is transforming construction, delivering lighter structures, faster projects, and smarter buildings in an increasingly constrained island market.

M

alta's skyline is rising fast — but the

From residential towers and commercial

denser urban environments, and higher

most important transformation is

complexes to mixed-use developments,

expectations from investors and occupants

not visible in the glass façades or

post-tensioning is increasingly recognised

are pushing the construction industry to

the cranes that dominate the horizon. It

not only as a structural technique but also as

rethink traditional approaches.

is happening inside the concrete itself.

a strategic tool for modern construction in Post-tensioning offers a compelling solution.

Malta.

Rather than relying solely on passive steel

Across the island, a quiet shift in engineering practice is reshaping how buildings are

The structural logic behind post-tensioning

reinforcement, post-tensioned systems

designed, financed, and constructed.

For decades, traditional reinforced

incorporate high-strength steel tendons that

concrete has been the backbone of Maltese

are tensioned after the concrete has hardened

A growing number of developments are

construction. The method is familiar, reliable,

sufficiently. This process introduces a carefully

turning to post-tensioned concrete slabs

and well understood by contractors and

controlled compressive force within the

and structural systems, a technology that

engineers alike. It has served the island

slab, counteracting the tensile stresses that

allows buildings to be lighter, more efficient,

well during an era when buildings were

normally cause cracking or deflection.

and faster to deliver. On a small island where

generally lower, plots were larger, and design

land is scarce and development pressures are

requirements were less demanding.

The result is a structural system that allows concrete — naturally strong in compression

intense, this structural innovation is beginning to influence not just how buildings stand but

However, the realities of today's development

but weak in tension — to perform far more

also how projects are planned and valued.

landscape are very different. Land scarcity,

efficiently. Buildings can achieve the same or

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NSIONED CONCRETE maximise usable space, allow flexible layouts, and respond quickly to market demand. Posttensioned slabs enable significantly longer spans, reducing the need for intermediate columns and beams. This opens up floorplates, allowing architects and designers to create more flexible interior layouts.

For residential buildings, it means larger, uninterrupted living areas.

For offices, it means adaptable floorplans.

For retail spaces, it allows tenants to subdivide or combine units with ease.

In a market where every square metre carries significant value, this flexibility becomes a major asset.

The system also produces cleaner ceiling lines with fewer downstand beams, simplifying the greater load-carrying capacity while using less

Why developers are paying attention

routing of mechanical and electrical services

material and thinner slabs.

While the engineering behind post-tensioning

while improving interior aesthetics.

is elegant, the real driver behind its growing In practical terms, this translates into

adoption in Malta lies in its commercial

Perhaps even more importantly, post-

structures that are lighter, more efficient,

advantages.

tensioned slabs can be significantly thinner than conventional reinforced concrete slabs

and more adaptable to modern architectural demands.

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Developers today are seeking buildings that

for the same span and load conditions. (

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When multiplied across multiple storeys, these height reductions can be transformative.

Within Malta's strict planning regulations, saving even a few centimetres per floor can determine whether an additional storey can be incorporated into a project.

For developers, this difference can have substantial financial implications.

Lighter structures for a complex urban environment The benefits of post-tensioning become even clearer when viewed against Malta's unique geological and urban context.

Much of the island's construction takes place in tight urban areas or on variable rock formations. Lighter superstructures place reduced loads on foundations, often allowing for more economical foundation designs and less extensive excavation.

In constrained sites surrounded by existing buildings, utilities, and infrastructure, this can significantly reduce construction complexity.

The philosophy of post-tensioning is simple: doing more with less — lighter slabs, longer spans, and greater architectural freedom.

Faster construction and programme efficiency Time remains one of the most critical variables in any construction project.

Basement construction also benefits from thinner slabs and shallower beams, improving

When combined with the reduced quantities of

Developers operate within tight timelines

headroom while reducing excavation volumes.

concrete and steel required, post-tensioning

driven by financing schedules, tourism

In urban locations where underground parking

becomes more than a structural refinement.

cycles, and market demand. Post-tensioned

and service areas are essential, these gains

It becomes a tool for leaner, faster, and more

floor systems can significantly improve

can make projects more feasible and cost-

adaptable construction suited to Malta's dense

construction efficiency.

effective.

development environment.

With proper planning and trained site crews, floor-to-floor construction cycles can be shortened. This allows buildings to reach structural completion more quickly, enabling interior works and finishing stages to begin earlier.

In addition, thinner slabs typically require less propping than heavily reinforced conventional slabs. This can free up working space on lower levels sooner, improving site logistics and safety.

For project stakeholders seeking to balance speed, cost control, and quality, the alignment between structural efficiency and accelerated construction programmes is a powerful advantage.

Durability in a coastal climate Malta's environment presents specific durability challenges. Buildings are exposed to humidity, salt-laden air, and temperature

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will play an important role in shaping future construction strategies.

A structural shift for Malta's future skyline Historically, Malta's construction sector has tended to favour established methods and familiar techniques. However, as projects grow larger and more complex, the industry is gradually embracing more performancedriven solutions.

variations that can accelerate deterioration if structural systems are not properly designed.

Cleaner ceilings, fewer columns and flexible layouts give developers the one thing most scarce in Malta's market: usable space.

A growing number of developments are demonstrating that post-tensioned systems can successfully support ambitious architectural designs while responding to Malta's geotechnical conditions and urban constraints.

A strengthening ecosystem of expertise also supports this progress. Structural engineers, independent checkers, and specialist contractors are increasingly familiar with international design standards governing post-tensioned systems. Improved training, better supervision, and rigorous quality control are helping ensure these systems are implemented safely and effectively.

The pre-compression introduced by posttensioning helps minimise cracking within

Reduced material usage also means fewer

Looking ahead, the potential applications

the concrete. By reducing the pathways

transportation movements, less congestion

extend far beyond residential towers. Parking

through which moisture and aggressive

around construction sites, and lower on-site

structures, public buildings, healthcare

agents can penetrate, the system enhances

storage requirements.

facilities, and educational complexes can all benefit from the same principles of material

long-term durability.

Another important sustainability advantage

efficiency and structural optimisation.

When combined with proper detailing,

lies in the flexibility of post-tensioned

corrosion-protected tendons, and rigorous

structures. Larger spans and adaptable

In a country where land is scarce and every

quality control during construction, post-

floorplates make buildings easier to repurpose

additional square metre carries enormous

tensioned structures can achieve excellent

over time — from residential to office use, or

value, structural efficiency is no longer a

long-term performance.

from office to hospitality. This adaptability

purely technical consideration. It is a strategic

extends the life cycle of buildings and reduces

advantage.

the need for demolition and reconstruction.

For building owners and facility managers,

As Malta continues to build upward and

this translates into reduced maintenance interventions and greater confidence in the

As European climate targets become

outward, post-tensioned construction is

longevity of structural assets.

increasingly stringent, these efficiencies

quietly emerging as one of the technologies shaping the island's next skyline — delivering

Supporting sustainability goals

smarter, lighter, and more resilient buildings

Sustainability is increasingly shaping

for the decades ahead.

how buildings are designed, financed, and regulated across Europe. Post-tensioned systems align naturally with these goals.

Stephen is a freelance product Because the system allows thinner slabs

regulatory compliance

and lighter structures, it reduces the overall

expert and mechanical

volume of concrete and reinforcement

engineer with over 13

required. This leads directly to lower

years of experience in

embodied carbon, a key consideration in

the field.

environmentally responsible construction.

MONEY

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57

DESIGN

WORK,

REIMAGINED The design of GO Campus

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MONEY

DESIGN

As companies rethink how and where people work, office design is undergoing a quiet transformation. MONEY looks at the GO Campus headquarters in Żejtun, designed by A Collective with architecture by AP Valletta, and how the project reflects the evolution of the modern Maltese workplace.

A

cross Europe, the traditional office is

design introduces a more fluid workplace

to one of the most common challenges of

being redefined. Hybrid work, talent

ecosystem, one that allows employees

open-plan environments: noise control.

competition and employee wellbeing

to move between focused work, informal

are pushing companies to reconsider the

interaction and collaborative discussion.

Meeting spaces of varying sizes are distributed across the campus, supporting

environments in which people spend most of their day. In Malta, where corporate

The reception space sets the tone

everything from private discussions to larger

workspaces have historically prioritised

immediately. Custom-milled orange terrazzo

team sessions. The canteen, meanwhile,

efficiency over experience, projects like

introduces the company’s visual identity, but

acts as a social anchor within the building,

GO Campus suggest a shift in thinking.

it also signals something broader: workplaces

featuring communal tables and a distinctive

today are expected to communicate culture

tiled bar counter that encourages employees

and brand from the moment a visitor enters.

to gather beyond formal work settings.

reflects a growing emphasis on flexibility,

At the centre of each floor lies a shared

Even circulation areas have been treated

collaboration and employee wellbeing

social hub inspired by the idea of a

as opportunities for design expression.

in contemporary workplaces. Rather

courtyard. These spaces function as internal

Staircases and transitional spaces

than imposing a rigid office hierarchy of

gathering points where conversations,

feature terrazzo finishes and mesh

corridors, desks and meeting rooms, the

quick meetings and informal exchanges

balustrades that reinforce the building’s

occur naturally. In an era where remote

material language and create visual

work has reduced spontaneous interaction,

continuity throughout the campus.

The GO Campus headquarters in Żejtun spans roughly 2,700 square metres and

such shared areas are increasingly becoming the social engine of the office.

Taken together, GO Campus reflects a broader shift underway in workplace

MONEY

Workstations line the building’s north-

architecture. Offices are no longer simply

facing glazed façades, maximising natural

places to perform tasks. Increasingly, they

daylight and improving visual comfort

are environments designed to support

for employees. Above them, a suspended

collaboration, reinforce company culture

steel framework integrates lighting and

and offer something remote work cannot:

acoustic elements — a practical response

the human experience of shared space.

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

59

PA R T N E R F E AT U R E

THE i3 THAT CHANGES

EVERYTHING B

MW has done something

reimagining of the 3 Series,

a clean break. This isn’t a

more aerodynamic, saloon-

bold—again. The new i3,

arguably BMW’s most defining

combustion car converted to

like silhouette that leans into

built on its all-new Neue

model.

electric—it’s a ground-up EV,

efficiency without abandoning

engineered to reset BMW’s

BMW’s visual DNA. The

direction. The proportions

signature kidney grille remains,

reflect that: longer wheelbase,

but reinterpreted—sleeker,

shorter overhangs, and a

illuminated, and less aggressive.

Klasse platform, isn’t a revival of the quirky carbon-fibre city car

And that shift matters.

we once knew. It’s something far more important: the electric

60

From the outset, the i3 signals

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PA R T N E R F E AT U R E

Underneath, the real story

across the windscreen, paired

driving dynamics, infotainment,

i3 is fast or efficient—it clearly is.

unfolds.

with a central touchscreen

and driver assistance systems.

The real question is whether it

angled toward the driver.

It’s clear BMW isn’t just building

still feels like a BMW.

a car—it’s building a platform for

Early indications suggest

the next decade.

it might. Because beneath

The Neue Klasse architecture

Physical buttons are largely

introduces BMW’s sixth-

gone, replaced by a clean,

generation eDrive system,

software-driven interface. It’s

paired with an 800-volt

futuristic, yes—but whether it’s

electrical setup—bringing

intuitive in daily use remains to

ultra-fast charging into the

be seen.

mainstream. Expect up to 400kW charging capability,

More interesting is what BMW

translating into hundreds of

calls its digital “superbrains”—a

kilometres of range in minutes

new electronic architecture with

rather than hours.

significantly more computing

the screens, software, and Yet, for all its innovation, the i3

sustainability claims lies a

walks a delicate line. In chasing

familiar ambition: to build

Tesla and emerging Chinese

the ultimate driver’s car—just

competitors, BMW risks losing

powered differently.

some of its analogue charm—

Range, in fact, is where BMW

power than previous models,

is clearly aiming to dominate.

enabling real-time processing of

the tactile engagement that

If BMW gets the balance right,

defined its driving experience

the i3 won’t just be another EV.

for decades.

It will be the car that redefines what a BMW is in the electric

The question isn’t whether the

age.

Early figures suggest up to 800–900km (WLTP) depending on configuration—putting it ahead of many current rivals and squarely in Tesla-challenging territory.

Performance doesn’t take a back seat either. The dual-motor i3 50 xDrive pushes close to 470hp, delivering acceleration figures that edge into M-car territory—without the theatre of combustion, but with all the immediacy of electric torque.

Inside, BMW has taken a similarly radical approach.

The cabin is dominated by the new Panoramic iDrive system—a full-width display projected

MONEY

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61

PA R T N E R F E AT U R E

THE NEW RULES OF TALENT Why Malta’s salary landscape is changing As Managing Director of Boston Link Malta, Lourens Pahud de Mortanges shares insights from the firm’s latest salary survey, examining how regulation, consolidation, and shifting talent priorities are reshaping compensation, leadership expectations, and long-term workforce strategy across Malta’s iGaming and financial services sectors.

M

alta’s economy remains resilient,

organisations that demonstrate operational

outperforming much of Europe, and

discipline and regulatory maturity.

financial services continue to play a

central role — contributing over 8% of GDP and

At the senior end of the market, salary

employing more than 15,000 professionals.

pressure remains strongest in leadership,

At the same time, iGaming remains one of

compliance, risk, product and technology

the island’s most internationally connected

functions. In iGaming, C-level executives

and strategically important industries. Both

with multi-market responsibility and full

sectors are navigating rapid change: tighter

P&L ownership are typically positioned

regulation, European consolidation, digital

at €250,000-€300,000+, particularly

transformation, and cross-border expansion.

when regulatory exposure spans multiple jurisdictions. These roles have evolved

In that context, static or outdated salary data simply is not sufficient.

Lourens Pahud de Mortanges

significantly; CEOs and senior leaders today must combine commercial strategy with regulatory fluency and cross-border

We produce these reports annually because compensation trends are among the clearest

particularly across banking, payments, asset

real-time indicators of how industries are

management, insurance and corporate

shifting — structurally, strategically, and

services.

operational oversight.

In financial services, a similar pattern is emerging. CFOs within banking, payments

culturally.

One of the most notable shifts we are

and asset management typically range

From what we are seeing on the ground, Malta

observing is in candidate priorities.

from €120,000 to €150,000+, depending

has entered a more mature phase across both

Professionals today are placing greater

on complexity and regulatory scope. Heads

sectors. In iGaming, the so-called “grey zone”

emphasis on stability, structured career

of Compliance and MLROs can command

has largely disappeared. Companies are now

progression and long-term security rather

up to €120,000+, while senior legal and

clearly operating within regulated frameworks

than short-term financial gain. Employer

risk professionals continue to see steady

or positioning themselves outside them —

reputation, governance standards and

upward movement. What is consistent across

and that distinction has a direct impact on

leadership credibility carry more weight than

both sectors is that leadership roles have

hiring patterns, salary structures and talent

ever before.

broadened. Consolidation across Europe has reduced the number of top positions overall,

retention. In financial services, regulatory oversight, governance standards and

This is reflected in talent flows — we are seeing

but those that remain now carry greater

reporting requirements continue to intensify,

experienced professionals gravitating toward

accountability — integration mandates, digital

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PA R T N E R F E AT U R E

transformation projects, governance reform and international expansion.

Mid-level hiring tells a slightly different story.

Growth in traditional middle management has flattened somewhat, particularly where organisations have streamlined structures post-consolidation. However, demand for specialist expertise remains strong. In financial services, we continue to see shortages in compliance, AML, risk, actuarial and senior finance roles.

Compensation trends are among the clearest realtime indicators of how industries are shifting.

planning tool, not simply a hiring reference.

Competitive remuneration is essential, but it is no longer sufficient on its own. The organisations that consistently secure and retain top-tier professionals are those that combine market-aligned pay with clear progression frameworks, structured hybrid working models, upskilling initiatives and a strong governance culture. In a market as interconnected as Malta, reputation travels quickly.

For professionals, the message is equally clear. Long-term value sits where regulatory

In iGaming and fintech-linked environments, cloud engineers, DevOps specialists,

Another clear trend we are seeing is

understanding, data capability, operational

cybersecurity professionals, data engineers

convergence between industries. New iGaming

depth and cross-market exposure intersect.

and data scientists are among the hardest

verticals — including social casino models and

The market is rewarding expertise, adaptability

roles to fill.

prediction-led platforms — are drawing heavily

and strategic thinking — not just speed of

from fintech, consumer tech and data science

movement.

These positions sit at the intersection of

talent pools. At the same time, financial

regulation, operational risk and advanced

services firms are investing significantly in

Looking ahead to 2026–27, we expect

technology — and local supply remains limited.

product development, analytics, automation

continued European consolidation, sustained

As a result, firms are increasingly hiring

and digital transformation. Salary ranges

international hiring into Malta and growing

internationally, using skilled work permit

for product managers, data specialists,

influence from data-driven and compliance-

frameworks and benchmarking compensation

cloud engineers and cybersecurity experts

led business models. Leadership expectations

against global markets rather than purely

are increasingly aligned with international

will continue to rise, blending commercial

Maltese peers. The Maltese workforce has

technology benchmarks rather than traditional

growth with regulatory discipline and people

become more international year by year,

sector norms.

strategy. In our view, organisations that align talent planning with regulatory and growth

particularly in areas such as FP&A, compliance leadership, product, payments and digital

For employers, we strongly believe salary

strategy will be best positioned for the next

infrastructure.

benchmarking should be treated as a strategic

phase of Malta’s economic evolution.

MONEY

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

63

STYLE

QUIET POWER The new codes of modern luxury A refined wardrobe built on texture, precision and intent—where craftsmanship replaces logos, silhouettes stay sharp, and every piece signals confidence, discretion and a deeper understanding of modern luxury dressing.

1

[All items available from mrporter.com,

2

unless otherwise specified] 1. LOEWE Puzzle large panelled leather tote bag • €2,000 2. VISVIM Brigadier Folk suede lace-up boots • €1,225 3. LOEWE Anagram 3.5cm reversible leather belt • €450 4. TOM FORD EYEWEAR

3

Sam aviator-style tortoiseshell acetate sunglasses • €360

4

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ISSUE 90

MONEY

STYLE

5

6

7

8

9

5. KITON Padded shell overshirt • €2,810 6. LORO PIANA Darcy Pecora Nera® wool-felt overshirt • €4,500 11 7. RICK OWENS Geth straight-leg organic cotton-blend canvas

10

trousers • €675 8. SAINT LAURENT Straight-leg organic jeans • €790 9. LOEWE Logo-embroidered cotton-jersey T-shirt • €520 10. CELINE Wool and cashmere-blend sweater • €950 11. ROLEX Land-Dweller 40, Oyster, 40 mm, platinum €65,400 • elcol.com

MONEY

THE DESIGN, ARCHITECTURE AND URBAN PL ANNING EDITION

65

NEWS

Yet public debate has gone

decade reshaping streets around

beyond traffic. Questions about

people rather than cars.

pedestrian access, walkability, landscaping, and whether Malta is

Recent international coverage has

solving mobility primarily through

highlighted the city’s expansion of

road engineering continue to

cycling lanes, greener boulevards,

shape the discussion. Recent

pedestrian-first zones and

reports on contractor restrictions

reclaimed riverside public space

brought the project back into the

— changes that have altered how

headlines.

millions move through the capital each day.

The bigger question is whether

Project Green pushes 10-minute walk vision

future infrastructure can move

What began as a controversial

and improve the appeal of towns

people more efficiently while

policy agenda has become an

for residents, workers and visitors

also creating better places. In

increasingly global case study in

alike.

that sense, Msida Creek is more

modern city planning. Supporters

than a junction project — it is

point to cleaner air, healthier

Malta’s urban planning conversation is increasingly

As development pressure

a benchmark for Malta’s next

mobility, stronger neighbourhood

shifting from roads and buildings

continues, Malta’s next phase

generation of public works.

commerce and a more liveable

to quality of life, with Project

of growth may depend not only

Green promoting a long-term

on what gets built, but on how

vision in which every resident

intelligently space is shared,

lives within a 10-minute walk of an

connected and made more

open green space.

liveable.

Speaking recently, Project Green CEO Joseph Cuschieri said the agency is working towards a network of parks, gardens and

Msida Creek remains Malta’s most-watched urban test case

public spaces connected through future green corridors — routes

As works continue, the Msida

designed to link communities with

Creek project remains one of

safer, healthier and more walkable

Malta’s most visible examples of

environments.

how infrastructure and urban

Paris continues to redesign the modern city

design now intersect.

“We want every person in Malta

public realm. Critics continue to cite congestion and transition challenges.

to be within a short walk of open

The multi-phase scheme is

space,” Cuschieri said, outlining a

intended to reduce congestion

model that would bring greenery

while improving traffic flow

Paris remains one of Europe’s

The broader philosophy has

closer to everyday life rather than

between Msida, Gżira, Ta’ Xbiex,

most closely watched urban

remained consistent: cities

concentrating it in isolated zones.

and the University area. Earlier

transformation stories, with fresh

should prioritise accessibility,

milestones included the opening

attention this month on how the

daily convenience and quality of

of a new flyover.

French capital has spent the past

life over vehicle dominance. Paris

The concept reflects a wider global shift in urban thinking.

Mayor Anne Hidalgo previously

Access to parks and shaded public

described the goal as creating

areas is increasingly associated

a city that is “more breathable,

with lower stress levels, better

more liveable, more human.”

mental wellbeing, stronger communities and healthier

For compact and densely

lifestyles. In denser countries

populated places such as

such as Malta, these benefits

Malta, the lessons are relevant.

become even more valuable.

As land becomes scarcer and expectations rise, future

There is also an economic case.

competitiveness may depend less

Attractive public spaces can

on expanding outward and more

enhance nearby property values,

on redesigning existing streets

strengthen local retail activity

and spaces more intelligently.

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MALTA’S DEFINITIVE

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