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SEE ALSO: BA plane crashes into building at airport
The incident occurred on Wednesday evening when strong winds pushed it off the runway at Malta International Airport.
No injuries were reported.
The Times of Malta reports that the aircraft crashed into a building owned by construction firm Polidano Group.
"It seems like it was the result of the strong winds," Polidano Group's legal representative Jean Paul Sammut told the newspaper. "The building didn't sustain major damage, but we presume the aircraft did."
The Dassault Falcon 7X is reportedly registered in Bermuda.
Lord Ashcroft has yet to issue a formal statement.