Marco Gaffarena was in negotiations with the owners of the imposing Palazzo Verdelin in Valletta last March to buy their property for €3.5 million to sell it to the government at a profit.

However, negotiations were halted following revelations by this newspaper last May over deals involving another building in Old Mint Street where his ownership was eventually expropriated by the government as a profit for Mr Gaffarena.

The government uses Palazzo Verdelin through emphyteusis which ends in 2028.  

According to the owners, Mr Gaffarena’s approach started a few weeks after one of the owners sent a judicial letter to the Lands Department asking them to return the palace to its owners before the expiry of the emphyteusis.

One of the owners of Palazzo Verdelin said Mr Gaffarena had contacted them with an offer, telling them the government would eventually acquire the building.

Mr Gaffarena had already acquired a third of the palazzo in a deal he had made some 15 years ago with the Coleiro family. However, the rest of the palace is still owned by two families, the Zammits and the Tagliaferros.

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