The new Parliament House is expected to be ready in time to receive MPs after the summer recess.

Malita Investments, the company which owns the site, said today that the Grand Harbour Regeneration Corporation, which is handling the project, had informed it that the building should be ready by the end of the third quarter this year, at the latest.

Malita, a special investment company set up by the government with private equity investment, said it made a pre-tax profit of €10,027,092 last year (2012: €2,550,338), while revenue for the year amounted to €6,738,503 (2012: €1,451,379).

The company’s revenues were mainly derived from ground rents received from its emphyteuta, the Malta International Airport (MIA) and the Valletta Cruise Port (VCP), as well as income related to the lease of the Parliament Building and the Open Air Theatre.

Administrative expenses were in line with the company’s expectations for the period under review.

The board of directors will be recommending the payment of a final gross dividend of €604,110 or 2c01 per share equating to a final net dividend of €392,672 or 1c31 per share at the forthcoming annual general meeting on April 9.

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