Alliance Real Estate Group has announced an industry-record, exceeding €423 million in property sales for 2024, citing the success of its branch expansion and optimisation strategy as well as its focus on sales and letting expertise.
This achievement cements Alliance’s position as Malta’s top-performing real estate agency, with sales estimated to account for nearly a quarter of all promise of sale contracts facilitated by estate agencies locally.
The Group also set a separate milestone, surpassing €2.1 million in rental contracts after successfully tapping into the letting market in late 2022.
Alliance CEO Michael Bonello described the Group’s performance as a pivotal moment for the company.
Thanking the Group’s dedicated personnel for their contributions, Bonello emphasised that the record-breaking results reflect the depth of talent, expertise, and commitment within Alliance.
“I attribute this success fully to each and every one of our people. These achievements underscore the collective effort of our team and the impact of our strategic decision to focus on the quality and performance of our branches and teams,” Bonello said.
“Last year, by prioritising operational excellence over expansion for expansion’s sake, we’ve been able to deliver stronger results, higher efficiency, and enhanced client satisfaction. This approach not only benefits our clients but also aligns with our commitment to long-term, sustainable growth.”
Bonello said that as part of its long-term strategy to maximise profitability and operational efficiency, Alliance implemented a targeted branch consolidation strategy in 2024.
The company merged and streamlined operations across key locations, focusing on enhancing the strength and performance of its network rather than expanding through additional branches.
Key actions included:
• Merging Alliance North with the larger Alliance St. Paul’s Bay office.
• Merging the Alliance Attard team into Alliance Swieqi for greater synergy and productivity.
• Relocating Let Buy Mark’s team into the flagship Alliance Strand branch in Gzira, consolidating operations under one roof.
• Relocating the Alliance by Malta Commercial Agency to prestigious, larger premises on the Sliema Strand.
• Discussions are ongoing on the closing of at least two other low performing offices.
Alliance“This strategy is a reflection of our philosophy: that a leaner, more focused network of high-performing branches is more effective than spreading resources thin over a larger footprint,” Bonello said.
“I am inviting smaller local offices who are ready to join forces with strong existing branches. You are welcome to knock on our door,” he added.
With these strategic adjustments, Alliance has positioned itself to continue capturing significant market share while delivering greater value to clients and stakeholders. The Group’s €423 million in property sales represents a benchmark achievement, and its success underscores the importance of a carefully calibrated approach to growth.
As Alliance looks ahead to 2025 and beyond, it remains committed to sustainable growth, operational excellence, and maximising shareholder value. This focus will drive its efforts to maintain and expand its leadership in Malta’s real estate sector. It is one of the few companies operating an in-house Compliance Unit, ensuring adherence to industry regulations and standards.
Additionally, the in-house Alliance Academy provides ongoing training to property advisors.
By prioritising excellence in service and fostering a strong sense of teamwork, Alliance continues to set new benchmarks in Malta’s property market, solidifying its position as a trusted partner for clients, investors, and stakeholders.