Former Irish PM discusses investment in Malta
Former Irish Prime Minister Bertie Ahern has left Malta after discussing various investment opportunities here.
Mr Ahern attended the inaugural meeting of the Parker Green International advisory board at the Hotel Phoenicia, Floriana.
Parker Green, based in Newry, is owned by Gerald O’Hare who founded the group in 1996. It has developments in Ireland, mainland Europe and in the US.
Parker Green concentrates on commercial and retail developments but is considering widening its interests, “though we’ll probably never stray too far” from property, said Dr O’Hare.
The other members of the board include Harvard University’s Prof. Richard Peiser, an expert in real estate development and urban planning; Michael Gibbson, a senior executive with French bank BNP Paribas; and Gregory Tosko, a vice-chairman of property services firm CB Richard Ellis in New York.
“This board can bring its global expertise to the management table and in doing so, match the business approach already expressed in our portfolio”, Dr O’Hare was quoted as saying in the Irish newspaper The Irish News.
6 Comments
Post comment
Please sign in or create your Account to post comments.
J Martinelli
Oct 24th 2008, 22:20
Very interesting Paul Smith. Let me see if I get this right:
"Malta has had a speculative property market for the last 10 years" - Which country doesn't?
"Malta has decided that property developers would be the back bone of the economy, ignored cottage industry's ". - Say what?
"Property price inflation has also done more damage than good to Malta's economy" - What ?Because it produced more capital gain taxes?
"..debt issued as home loans is a much higher % of national income or savings". - One more time - Say what? Are you in the habit of buying a home cash?
"The lack of vision into the future by all Maltese leaders and other world leaders, is staggering to say the least". What a relief! Our politicians are as good as the rest, so the other moaners saying that the government is not up to par, are all wrong according to you. Or conversely, there is no one with common sense except you?
Gee, I was under the impression that slavery was outlawed centuries ago - are you suggesting that Brits are slaves? Time to catch up, mate.
Are you the Money Reform Party?
Alexander Morana
Oct 24th 2008, 21:14
Mr. Smith and J. Martinelli, you both may be right, though as my financial planner always told me that even in bad times there is always an opportunity to make money if you invest smartly if you create that opportunity or if you find it.
However, smart investors always invests money which is real money not ghost money which the banks sold to greedy speculators.
The crush in the real estate markets both in the USA and Europe, was caused by cheap interest rates which were kept low purposely by the Central Banks to keep an artificial economy going longer than it should have tanked. People bought mortgages which they couldn’t afford as you mentioned Mr. Smith.
Just yesterday Mr. Greenspan admitted in front of a Congressional hearing that something had to give and he knew before hand when the bubble was going to burst.
Paul Smith
Oct 24th 2008, 19:06
Alexander Morana (2 hours, 59 minutes ago)
Maybe,
but how has Malta been any different from another western democracy?
Malta has had a speculative property market for the last 10 years
Malta has decided that property developers would be the back bone of the economy, ignored cottage industry's . Property price inflation has also done more damage than good to Malta's economy because debt issued as home loans is a much higher % of national income or savings.
The lack of vision into the future by all Maltese leaders and other world leaders, is staggering to say the least.
My own nation is guilty as sin (Britain) with wishful thinking of a cheap never ending fossil fuel bonanza and never ending debt slavery!
time for money reform, you may want to check out the money reform party.
J Martinelli
Oct 24th 2008, 18:55
Paul Smith, your comments are not conducive to attracting investment whether from Ireland or elsewhere.
Just from where would you approve getting investments? Someone with such smart ideas would have no difficulty suggesting blue chip sources.
Alexander Morana, this is not even a plum yet, but if it develops into one, it surely will not be the 'last' one as you suggested. Just have faith and remember that deals are much harder to close than one's gaping mouth.
Alexander Morana
Oct 24th 2008, 15:28
Mr. Paul Smith, maybe Malta is the only plum left to pluck out of the tree!!!!
Paul Smith
Oct 24th 2008, 13:50
Yep, thats what we need. An Irish property firm investing in Malta?
Property price bubble in Ireland has burst and Ireland is in deep you know what!
Unemployment in Ireland is increasing and the whole Irish economy was built on property, hence why it is collapsing.
Do your self a favour Malta, steer well and truly clear of Irish property developers.
Ireland is on the way to state bankruptcy.