Ta' Monita Residence, a new project in Marsascala was launched on the local property market this week. The developers, the Tumas Group and the Gasan Group, said that Ta' Monita is expected to have a similar positive impact on Marsascala in the same way as Portomaso set standards for the St Julians area and Tas-Sellum Residence in Mellieħa set new standards for the north.

Joe Gasan and George Fenech, the driving forces behind the project, expressed the view that the present world economic climate should also be considered a time for opportunity and challenge. The groups' expertise in large-scale developments allows them to assess a project from all viewpoints, evaluate its viability and commercial sense.

Maurice Tabone, the Ta' Monita sales and marketing director, commented that a project of this calibre in the south is long overdue and he is confident that the project will be a success and shall raise standards in the area.

Ta' Monita Residence covers an area of over 16,000 square metres and its redevelopment shall result in apartments ranging from studio flats to three-bedroom apartments and penthouses. The facilities include a swimming pool, a piazza and underground parking with most flats having seaviews.

Besides meeting local demand, the company aims to attract foreign high net worth individuals whose investment makes a significant high contribution to local economic activity.

Ta' Monita is a Special Designated Area giving foreigners a high level of flexibility and favourable conditions when purchasing property in the complex.