Record sales in property

Frank Salt (Real Estate) had all time records on sales and substantial growth throughout all the company's operations during 2002, the result of excess liquidity, new property developments, and attractive interest rates, managing director Joseph Lupi said.

He was speaking during the company's recent annual general meeting at the Victoria Hotel, Sliema.

Mr Lupi said the property market took a positive turn from the beginning of the year with a number of new developments taking shape and seeing the year closing with the very successful launch of the MIDI development.

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

He said business activity increased by 25 per cent over the previous year throughout all the company offices.

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 strengthening association agreements with overseas representatives. The company is also planning to open a London office during the year.

http://www.franksalt.com.mt