Luxfair Real Estate and 77 Great Estates are very pleased to announce the merger of the two businesses. The merged real estate business will be working out of Luxfair’s Ta’ Xbiex office situated in Testaferrata Street.
The two directors – Robert Zammit and Carl Peralta – agreed to merge on January 31, 2020.
“This brings economies of scale to the business as well as access to 16 years’ worth of business experience and contacts of 77 Great Estates,” Dr Zammit said. “This will result in a better service to our esteemed clients.”
Dr Peralta is also enthusiastic about the merger of the two estate agencies.
“I had identified a consolidation in the market and the fact that the merger of businesses can help the firm open up new business lines as well as get access to the CEO of Luxfair, Derrick Maguire,” he said.
Mr Maguire brings along 30 years of experience in real estate franchising worldwide and Dr Peralta was very excited to work alongside Mr Maguire and grow the combined businesses.
Now the combined staff members and year they started consists of: David Leguesse (2011), Anna Giusti (2012), Marianne Mifsud (2014), Edric Bonello (2015), Matthew Frendo (2015), Michelle Schembri (2017), Paul Delves (2017), Izzy Krimat (2018), Kenneth Mamo (2018), Avv. Antonio Di Martino (2019) Frank Petzche (2019), Jon Briscoe White (2010), Paula Farrugia (2010), Kenneth Zammit (2012), Daniele de Baraggoli (2018), Jack Brady (2019), Alessandro de Testa (2019), Bogdan Rath (2018), JP Camilleri (2018) and Aiden Camilleri (2018).
The firm will continue doing the normal real estate business in Malta – sales and lettings, residential and commercial – however, it will also supply overseas properties with guaranteed rents in Malta, UK and Barbados to start with, then expanding into other countries.
These provide a great investment for investors, with returns that outstrip what they would get from other avenues. These properties will be displayed via the office and at exhibitions to be held in Malta, with the overseas developer present and hosted by Luxfair and 77 Great Estates.
Luxfair and 77 Great Estates will also create another department specialising in the administration of leased residential and commercial properties.
Both directors realise the value of training, support and investment, and they want to increase these with the combined strength and talents they both possess.
The firms will be trading as ‘Luxfair Real Estate and 77 Great Estates’ and are very keen to chat to any other real estate agency that may want to merge their business with them. The upside would be reduced costs, international and local inventory, special deals on developments completed by the sister company Luxfair Developments, expert marketing and SEO and finally access to both property listings and potential acquirers.
Luxfair Real Estate made it a double celebration this month by announcing the opening of their first franchise, which will be in Sliema. More details will follow in another announcement.
A truly exciting year is ahead for all parties concerned. If joining us, or taking a franchise, interests you, contact Derrick Maguire on 7702 6842 or dmaguire@luxfairrealty.com for a confidential meeting.