Malta Properties Company plc - Sale of St. Paul’s Bay Old Exchange

Friday, August 4th, 2017

On 4 August, Malta Properties Company plc announced that it has entered into a promise of sale agreement for the sale of the St. Paul’s Bay Old Exchange for a total consideration of €3.75 million compared to a book value of €3.2 million. The property is being sold by the Company tale quale and subject to the terms of an ongoing lease agreement.

The Company further explained that the promise of sale agreement is valid and effective up to 31 January 2019 and the sale proceeds are earmarked towards funding other development projects and/or any acquisition opportunities.

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