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Boost for Malta as international property company seeks investment opportunities

As part of the plan it has formed a new International Advisory Board to examine property markets around the world in light of the current economic slump.

The new board will meet various Maltese state agencies in Valletta this week. 'These meetings are important for Parker Green in two ways. First, we want to continue to expand internationally, and we are looking at all opportunities, including in Malta,' said company chairman Dr Gerard O'Hare.

'Second, we currently have a portfolio of investments and developments in Western, Central and Eastern Europe, the United States, the UK, and Ireland, and we felt we needed a new Board to reflect this global approach more fully,' he added.

'As we go forward, beginning with discussions in Malta, we want to know we have the expertise to perform in these global markets. The International Advisory Board, which is made up of top business and political leaders, lets us do that.'

The new board comprises senior politicians, including two members of the UK House of Lords, and various property and investment executives.

Malta is regarded as an opportunity for its location and international approach, Dr O'Hare explained.

'The country has such a strong business and trade reputation too, it really conveys all the messages we want. We feel that Malta could be an excellent location for us to commence a new wave of investment,' he said.

The move confirms Malta as a European country that can offer a steady outlook. Malta ranks in the top 20 global countries most likely to sustain economic growth over the medium/long term.

It has a reputation as a second home destination and the government is investing more in tourism. The island saw an unprecedented six-fold rise in property prices between 1987 and 2007 and although property prices are now falling slightly in line with most of Western Europe the outlook is described as positive.