11 June 2003

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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.

Copyright © Newsworks Ltd. Malta.
Editor: Saviour Balzan
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