Mercury Towers, the latest high-end project by developer Joseph Portelli, has been causing a stir in the real estate market, with reports of its properties being sold even before they are completed.

This demand for the development has resulted in a significant increase in prices, with early investors reportedly seeing their investments double before the project has even been finished. 

This phenomenon raises questions about the viability of these high-rise developments that incorporate open spaces and holistic design.

Mercury Towers is a 31-story development located in the bustling town of St Julian’s and the project is set to incorporate a mix of residential and commercial spaces, with 145 high-end apartments. 

Despite the fact that  Mercury Towers is not yet completed, the demand for its properties has already exceeded expectations.

This has resulted in a significant rise in prices, with the earlier investors reportedly seeing a return on their investment of over 100%.

There are several reasons why Mercury Towers has been so popular among buyers. Firstly, the development is located in a prime location, in one of the most sought-after areas in Malta.

This, coupled with the fact the properties are of a high-end nature, has attracted investors from all over the world who are looking for luxury living spaces.

Secondly, the Mercury Towers’ holistic design and incorporation of open spaces have been a major selling point. With sustainability and environmental concerns becoming increasingly important, more and more buyers are looking for properties that offer a more eco-friendly way of living.

Mercury Towers’ focus on open spaces and sustainable design has therefore struck a chord with many buyers.

However, the significant rise in prices and the doubling of investments before completion have raised some concerns.

While Mercury Towers is undoubtedly a high-quality development, the fact that prices have risen so significantly before completion raises questions about who will actually afford these properties.

In addition, there are concerns about the impact that such high-rise developments may have on the local environment.

While Mercury Towers’ focus on sustainability is commendable, some experts argue that high-rise developments are not the most environmentally friendly option and argue that such developments can lead to increased traffic, congestion, and air pollution.