Last Updated on Thursday, 10 June, 2021 at 9:39 am by Andre Camilleri
VBL Group, the largest private owner of Valletta real estate, has recently completed the acquisition of 100% of the shares of Casa Rooms Ltd, one of the leading Property Management Companies on the island.
“The short-let accommodation market, over the last decade, has seen an extraordinary growth in market share. Professional and larger operations can ensure higher standards of service for both property owners and guests, whilst achieving elevated economies of scale. The acquisition of Casa Rooms Ltd., one of the largest property managers in Valletta, by VBL Plc ; the largest property owner in the City, was a natural next step for the VBL Group. This further consolidates our market leader position in the Capital city and will allow us to hit the ground running as the COVID restrictions continue to ease. Following the acquisition, we have assimilated Casa Rooms into our existing operation seamlessly. We found a great team of knowledgeable professionals which will add considerable value to the Group.” said Dr. Andrei Imbroll, Chairman of the VBL Group.
Thomas Cremona, founder and Board Member of Casa Rooms Ltd., said “When I started Casa Rooms, the short-let market was in its infancy. We grew together with the industry internationally, also thanks to innovative tech companies like Airbnb which was recently listed on the NASDAQ. I felt that it was time to take Casa Rooms to new heights and VBL Group was the natural port of call to achieve this.”