Overwhelming Results for the 1st Phase of Pendergardens
On 22nd May Pendergardens announced the official Sales Launch of its 1st phase consisting of 98 apartments in Malta, at a reception at the Intercontinental Hotel in St. Julians Malta which was attended by the majority of local Estate Agents.
The guests were welcomed to the event by the Chairman, Edmund Gatt Baldacchino who gave a brief address and introduced the members of the Consortium behind Pendergardens, the Management Team and the Consultants. He also described Pendergardens’ vision of “quality, modern contemporary living spaces with landscaped open areas in a car free zone where everything surrounds you.”
He also touched on the exciting commercial area on the Mercury House site which would be launched at a later date and will consist of state of the art offices, retail and leisure outlets and a large open pedestrian zone around a fully restored Mercury House. Mr Gatt Baldacchino added that this should upgrade the centre of Paceville and create a much needed town centre for St Julians Malta.
CEO Peter Diacono explained events during the preceding 18 months from the acquisition of the land to the launching of the 1st phase. It was alengthy process of consultations with MEPA and other authorities, and included the submittal of a full (EIA) environmental impact assessment and (TIS) traffic impact statement. He then went on to give the audience an overview of the project, the financial package arranged by Bank of Valletta specifically for prospective purchasers of apartments Malta in Pendergardens and an explanation of the terms and conditions of the promise of sale.
The address was concluded by Michael De Maria the Sales and Marketing Manager, who after many years as an estate agent, ran through the distinctive selling points of Pendergardens; location, location, location, the competitive prices, the private piazza, the attractive layout of the Malta property, the residential car park, the payment terms, the finishes, the application for Special Designated Area status to mention just a few. The announcement that Pendergardens were to pay Estate Agents 5% +VAT on all sales generated by them was very well received by all those present.
The guests were then invited by the Chairman to a cocktail reception where they could inspect a very impressive scale model of Pendergardens and view a 3D animation of the project which apart from the exterior views also included shots of sample interiors designed by Jean-Marc Bianchi and Greta Apap Bologna who were also present to discuss their designs.
The interest that had been mounting for a couple of weeks was quickly translated into sales with the overwhelming majority being snapped up on the first day. Michael De Maria said that he had expected a good response but even he was surprised at the extent of the demand for Pendergardens with both local and non Maltese purchasing in the 1st phase.
The team attributed the success firstly to the innovative and modern architectural design by architects Bencini and Associates, the location, the healthy mix of apartments, the general public’s understanding and acceptance of a community lifestyle and the project’s concepts, and last but not least the generous open spaces.
Peter Diacono the CEO said “1st Phase results have left us very encouraged, as has the feedback and market enthusiasm we are receiving for the residential towers and the commercial area in our next phase. However our focus is now to complete Phase 1.
