10th Jul 2006 07:00
Medsea Estates Group PLC10 July 2006 For immediate release 10 July 2006 Medsea Estates Group Plc Italian Contract Update Medsea Estates Group Plc, the AIM-listed Spanish-based estate agency group, hassigned a further five year exclusive contract with Bella Calabria SRL of Italy,which the management believes will generate sales for Medsea in excess of Euros4m annually. The contract states that Medsea should sell a minimum of 250 units a year and,with 178 sales already completed, the company expects to exceed this minimumfigure. Chairman Tony Gatehouse said: "Our Italian venture is already a huge success, asis shown by the number of units we have already sold this year. We have exclusiverights to a range of low-cost beach front properties along the Calabrian coast insouthern Italy. The demand has exceeded even our high expectations and there isevery indication that it will continue to grow." The new developments include townhouses and apartments, and prices start at£36,000. Medsea also has exclusive rights to market an additional cliff-topdevelopment alongside a top ranking golf course which is being built a shortdistance inland. For further information contact: Tony Gatehouse, Chairman, Medsea 0034 96 570 42Juan Carlos Rodriguez Martinez, Chief Executive, Medea 0034 96 570 02 Imran Ahmad, Director, HB Corporate 0207 510 8642 Weber Shandwick Square MileTerry Garrett/Alex White/John Moriarty 0207 067 0700 Notes to editors Medsea Estates Group Plc is a leading Spanish-based estate agency group whichfloated on AIM in August 2004. It was established in 1998 to service themarketplace of the increasing number of UK and Irish nationals looking toacquire residential properties in Spain. Over the past six years the group has expanded to become one of the leadingagents within the area and now operates in a wide range of other Europeancountries including Italy, Portugal, Turkey, Germany and the Benelux countries. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Craven House Capital