Malta

EY - Malta winner

Angelo Xuereb

Chairman

AX Holdings Limited


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Angelo Xuereb was just 16 years old when he told his father that he wanted to start a construction business. His father was unimpressed, preferring that his son become a bank manager. Angelo was adamant and went on to found AX Group in 1975, with an initial investment of just over US$500.

The business started off small. His first contract was laying curbs along a pavement with just two workers. Now there are 38 companies in the group, spanning the construction, hospitality, real estate, health care and maritime sectors.

Angelo has achieved many firsts in Malta. He built the first mega hotel, the first private hospital, the first pre-stressed and precast concrete factory, and the first retirement village. The fact that some of these ideas were ahead of their time never deterred him. When faced with obstacles, he likes to quote Sir Winston Churchill: “Kites fly highest against the wind not with it.”