Portomaso reaches 2004 sales target
ahead of schedule
All structural work has been completed on the apartments
at Portomaso and sales have been exceptional, with the target for December
2004 already being reached.
Maurice Tabone, who handles the property sales for Portomaso, told The
Malta Financial and Business Times yesterday that he was exceptionally
pleased with the sales targets achieved. "330 apartments were built
and only 60 remain," he said, "we now have a very limited
number of smaller apartment still unsold, although we have a fair selection
of three bedroom apartments.
"Originally the residential part of the development was to be built
in four phases, but the exceptional rapid rate of sales made us build
the whole area in one continuous phase."
Tabone attributed the excellent sales result "to the high calibre
of the development, site facilities, good value and flexibility of apartment
layout which result in most apartments being finished to clients
preference and specifications."
The pre-EU referendum period proved to be particularly successful for
real estate, with prices rising substantially during those months. Prices
have since stabilised somewhat, however, and the expected boom following
the elections has not materialised.