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Sale of Sliema exchange delayed

Promise of sale extended to August

The promise of sale agreement for the Sliema Old Exchange has been delayed, according to Malta Properties Company.

In February, Malta Properties announced that SLM Property Company Ltd and Toncam Properties Ltd had entered into a promise of sale agreement for the complex.

A company announcement said on Thursday that the promise of sale agreement had been extened to August 1, although no reason was given.

Upon the final deed of sale, the property will no longer form part of the property portfolio of MPC and consequently there will no longer be any rental income from it.

The proceeds from the disposal of the property are expected to go towards funding MPC’s development projects and/or any acquisition opportunities.

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