Do successful bidders, enter into a contractual agreement?

Yes, any type of property transfer by Lands Authority (whether by sale, emphyteusis or lease) requires a formal contractual agreement.

Once the tender is adjudicated, Lands Authority issues a Letter of Acceptance to the successful bidder informing him/her of the tender outcome and inviting him/her to enter into a public deed of sale or lease agreement, as the case may be, on an appointed date.

In the case of transfer of ownership (by way of sale or emphyteusis) Maltese law requires that a public deed be drawn up before a Notary Public.  In the case of Government property such deed shall be drawn up in front of the Lands Authority  Notary.  If it is a matter of a simple lease then a written agreement is drawn up between the lessee and the Lands Authority.