Malta stock exchange presents lifetime achievement award 2021 to ax group’s chairman angelo xuereb
Mr Angelo Xuereb, Chairman of the AX Group was recently awarded the ‘Lifetime Achievement Award 2021’ by Mr Joseph Portelli, Chairman Malta Stock Exchange during the Annual Malta Stock Exchange Awards Dinner organised under the patronage of the Hon. Minister for Finance Employment, Mr Clyde Caruana.
In his speech, Mr Xuereb thanked the Malta Stock Exchange for recognizing his lifetime journey and various entrepreneurial successes together with his vital contribution to the local economy. Xuereb said ‘Although I do not intend to retire soon, the succession period is looking bright and promising with my daughters Claire and Denise who are both doing a sterling job and excelling in their own areas of expertise. With Claire leading the way in the Hospitality Sector, Denise heading the Construction and Development Sectors and the unwavering loyal support of our CEO Michael Warrington and our Top Executives, I am greatly optimistic about AX Group’s future, and I am confident that the company has a strong foundation to build from.’
He continued ‘We will continue to build on our expertise and continue to focus on the sectors where our strengths lie. We have a number of massive projects in the pipeline, amongst which are – The Verdala development which will see the outstanding site in Rabat redeveloped into one of Malta’s most iconic developments consisting of a hotel and a luxurious residential complex. We’re also making extensive headway on the Suncrest development which will see this 1987 Qawra landmark entirely transformed. Once again, the Suncrest will be pivotal to regenerate Qawra and make it a better holiday destination.’
Xuereb began his professional career as a helper in his father’s construction and property business and quickly found his calling in the construction industry. He set out to forge his own path, by investing a modest sum into his own construction enterprise. Launched in 1977, AX Construction fast became one of Malta’s leading building and civil engineering contractors with operations expanding into a hard rock quarry and the first state of the art pre-cast and pre-stressed concrete factory on the island.
In the ensuing decades, Xuereb took steps to diversify his company, starting with a successful expansion into the hospitality sector. In 1983, he opened the four-star Sunny Coast holiday complex in Qawra, followed in 1988 by the four-star Suncrest Hotel, which was the largest hotel in Malta for over 20 years. AX Group was the first company in the leisure industry to be listed on the Malta Stock Exchange in 1997.
Under the AX Hotels brand, Xuereb has continued to launch many other award-winning hotel properties, including the five-star AX The Palace, the four-star AX The Victoria, as well as Palazzo Capua—a 200-year-old palazzo which Angelo Xuereb meticulously restored to its former glory, inside and out. In 2017, AX Hotels opened the Saint John Boutique Hotel in Valletta followed by the launch of the five-star Rosselli AX Privilege on Merchants Street. Housed in a beautifully restored 17th-century palazzo, this luxury boutique hotel is also home to the Michelin-starred Under Grain, one of the first fine dining restaurants in Malta to achieve this coveted, internationally recognised rating.
Angelo Xuereb has long harboured a vision to restore value to Malta’s capital city of Valletta via ground breaking projects, including the new Parliament House in City Gate, the Old University campus, and the relaunched Is-Suq Tal-Belt (City Market). He has continued to pursue many other business ventures, ranging from launching restaurants, private health care, and Malta’s first retirement village, to creating the success of the Valletta Cruise Port and the Valletta Waterfront, which received numerous plaudits for its high-quality regeneration.
Together with his wife, he launched the AX Foundation in 2006, which continues to leave a positive impact on Maltese communities through raising funds and awareness in support of various charities, initiatives, and organisations.