Update June 2022

VALLETTA, Malta, June 30, 2022 /PRNewswire/ -- After inception in 2016 and an establishment phase, Moralltach Global Plc announces the on going acquisition of multiple residential development sites across Ireland. With several of the sites already acquired and the remaining targeted acquisitions in advance stage discussions, the locations include counties Wexford, Wicklow, Dublin, Limerick, Cavan, Carlow, Kildare.

Moralltach, having undergone protracted talks with well known property developers backed by a multi billion euro private equity group, and now supported by various stakeholders has commenced initial work leading to applications for planning permission across strategic sites. Moralltach has also targeted land which it feels will be zoned as residential in the future, thus maximising the possibility of a continued income stream over many years. Moralltach aims to build high quality affordable housing that can be leased to local authorities or sold to private buyers.

If all the target development sites are acquired by Moralltach and achieve planning, they have the potential to be developed into over 1000 properties in the coming years with an estimated total gross development value of over € 700m across all sites.

On 02/09/2021, The Financial Times reported 'Ireland unveils record spending to tackle housing crisis. The Irish government will allocate €4bn annually to build more than 33,000 new homes a year in an effort to tackle the country's chronic housing crisis. Ireland's housing problems are rooted in the high cost of construction, which has driven up sale and rental prices, and are compounded by a lack of supply and a growing population.'

Moralltach Global Plc is a European property holding, development company and aims to be a major investor in the Green Energy sector. Its assets are largely based in the Republic of Ireland.

Moralltach partners with existing businesses, property owners, developers, and entrepreneurs.

Moralltach agrees to purchase assets from various groups. As part of the asset acquisition process Moralltach can assist with legacy debt renegotiation or settlement, project feasibility and funding via syndicated debt or equity investment. Project procurement partnership targets have been anywhere from € 1m in value to considerably over € 100m.

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SOURCE Moralltach Global Plc