The Allied Group, publisher of Times of Malta, has reached an agreement with the Debono Group, a leading player in the automotive sector and local agents for Toyota cars, to lease its prominent office building in Mrieħel for a long-term period.
The building has served as the premises of Progress Press for more than a decade as well as hosting its editorial, sales, accounts and administration departments since 2017.
Under the agreement, the Allied Group has retained the option to continue occupying the premises in Mrieħel for a period of time, until an alternative base is found.
Allied Group chairman Paul Mercieca said: “This agreement is a win-win for both organisations: it provides the Debono Group with a multi-use facility in a highly desirable location while, at the same time, enabling the Allied Group to seek premises that better suit the needs of its media operation and digital printing requirements.”
Mercieca said that since the group transferred its newspaper printing requirements to a third-party newspaper print supplier in 2020, around 80% of its Mrieħel premises have remained unoccupied.
“It, therefore, makes eminent sense for us to make better use of this under-utilised asset. We will use the impetus from this lease agreement to continue investing in, and sustaining, the Times of Malta brand, which we are proud to say remains at the forefront of independent journalism in Malta.
“Our legacy as Malta’s leading news organisation is one we cherish, protect, and will continue to promote in line with the objectives of our founders”, said Mercieca.