2 - 8 August 2001

Re-structuring of property leasing companies

Exalco Group is undergoing a restructuring exercise whereby the property owning companies within the group – The Park Lane Company Limited, Morning Star Company Limited and The Mayfair Company Limited are being merged into a newly formed company: Exalco (Property Leasing) Limited. This company will henceforth be responsible for all the property owned by the group, consisting mainly of centrally located business and office premises built mainly on corner sites to the best of specifications having all modern amenities.
The properties are for leasing out to tenants involved in various aspects of commerce ranging from international banks, telecommunication companies, world renowned language schools, financial
services, computer services, import/export trade and catering establishments. This restructuring process coincided with the addition of the group’s business development to the responsibilities of Norbert Crockford, Exalco Group director, and the leasing out of accommodation at the Mayfair Complex in St George’s Bay, thereby, adding two new prestigious tenants to an already impressive list.
Mr Crockford said the restructuring exercise, while helping to organise the group’s financial affairs, will serve as a means of focusing on the property business of the group.
Apart from developing and leasing out properties, the company also operates lease-back schemes whereby companies would sell their property to Exalco, and such properties are leased back to these companies who benefit from the use of the same property they are operating from while improving their overall cash flow situation.
Alex Montanaro, managing director of Exalco Group, stated that it has always been the group’s policy to provide properties for leasing which are finished to high quality standards and ready for moving into. This meant that
tenant companies could commence operations immediately without undue loss of time and money.
Exalco’s current portfolio of properties includes The Mayfair Complex in St George’s Bay, The Park Lane in Blata l-Bajda, Borton House in Mosta, Everton House in Lija, Aston House in Naxxar and Tilbury House in Balzan. Plans are also in hand to develop a prime site in Mosta for commercial purposes.
Exalco Group is also in the market for the outright purchase of land for development and properties for re-development located in central areas.
The Exalco Group website; www.exalcogroup.com has also been recently completed featuring the diverse operations carried out by the group.