Record Sales At Frank Salt

Frank Salt (Real Estate) Ltd last week announced all-time records on sales and substantial growth throughout the company's operations during 2002.

Managing director Joseph Lupi made the announcement during the company's annual general meeting at the Victoria Hotel, Sliema, recently.

The meeting was opened by chairman Frank Salt who emphasised the need to always retain the standards of honest and professional services that the company has built over the years and to always bear in mind that the client comes first. Mr Salt spoke of the challenges and opportunities that lay ahead.

Mr Lupi gave an analysis of the market trends and movements during the year and explained how the company was at the forefront of these movements. The market took a positive turn from the beginning of the year with several new developments taking shape and seeing the year closing with the very successful launch of the MIDI development at Tigné.

One of the factors which positively influenced a healthy property market was the excess of liquidity of funds in the money market as a result of the government's repatriation scheme. Malta's chances of joining the EU in the next enlargement becoming more of a reality also helped to boost investors' confidence as well as the very attractive rates offered by banks.

Mr Lupi congratulated staff for exceeding their personal and branch sales targets last year. The company had increased its market share in all sectors of the market, particularly the second-time buyer and foreign markets. Business activity increased by 25 per cent over the previous year throughout all the company offices. The commercial and the letting property market also saw an improvement over the previous year.

"We feel that these areas will greatly benefit from Malta's accession into the EU next year and we intend to increase our investment in this sector," Mr Lupi said.

Mr Lupi also revealed details of the company's expansion and marketing plans for next year which include recruitment of more sales and support staff, investment in the commercial, letting and marketing department, investment in IT and stronger association agreements with overseas representatives. The company is also planning to open a London office during the year.

With the launch of its new Website (www.franksalt.com.mt), the company has launched an awareness campaign to encourage property seekers to use the Website. The Website was in fact the best source of enquiry used by the company's local and foreign clients throughout the year.

Awards were handed out to Best Performing Branch, which was won by the St Julian's office and Best Performance of the Year went to Marisa Camilleri, who won a trip for two plus spending money.