The lineage of Vassallo Group traces back to 1946 when Piju Vassallo set up an operation with his nephews clearing the debris of buildings demolished in World War II. When Nazzareno, the eighth of Piju’s 12 children, was born in 1951 he inherited an innate passion and business acumen that would see him achieve a series of firsts in Malta. After leading Vassallo Group for decades, Zaren, as he is fondly known, stepped back and passed the baton to his five children. Today, he watches with pride as each one carries the pioneering legacy forward. He shares his memories and vision with Arkati.
What does the Group’s 80th anniversary mean to you personally?
It represents my life’s work. I was born into the company and began working in 1965, when we had only 12 employees, six of them shareholders. By 1967, I was already pushing for modernisation. At the time, everything ran on partnerships with no written records; everything was logged in people’s heads. On October 16, 1967, I was put in charge of paperwork, wages, and stores, working out of a tiny office under the stairs. It was our first real step forward. Soon after, I began dreaming of a proper office where we could welcome clients. In 1969 we moved, and in 1988 we opened The Three Arches.
A defining moment came on June 4, 1971, when we registered Vassallo Builders Ltd, later Vassallo Builders Group Ltd and today Vassallo Group Ltd. My father and brothers appointed me Managing Director, which formalised our structure and set us on a new path. Today, as we celebrate 80 years, it also marks a personal turning point. At the 75th anniversary, I decided to step down and hand over the leadership to my children. The first year was transitional, but five years later, I can look on with pride and say it was the right decision. They took full responsibility, and the diversification strategy I had put in place allowed each one of them to lead their own sector and find their space.
Did you ever dream that the Group would have diversified its portfolio to this extent and grown so much?
Yes, it was always part of the plan. When I bought my siblings’ shares, my vision was clear: diversification was essential. It wasn’t only about growth; it was about creating future opportunities for my children in different industries. From the beginning, I wanted the Group to expand beyond construction. Nothing happened by accident; it was a deliberate strategy. The first steps are always the most difficult, but I started by forming partnerships with people I trusted, and later by investing in the hotel sector. Many of those partners still feel like family to this day. Our expansion was gradual, but I always kept my eye on the potential for growth. If something was small but promising, I pursued it. That approach led us into elderly care, then into the creation of HILA, which opened an entirely new direction for the Group. Opportunities come when you are prepared, and now is the time to keep building on that foundation.
When you look back, what are you most proud of?
I am proud to have contributed to national projects that shaped Malta. One of the earliest milestones was the Danish Village, the first turnkey contract in the country. I personally handled everything – construction, furnishing, even the curtains and cutlery. That project elevated the company into the premier league and opened doors to larger opportunities, especially in hospitality. Another defining moment was the construction of the Malta International Airport terminal. It was the first consortium ever formed in Malta – NOVITA. Out of 14 tenders, ours was €200,000 lower, and we won the first internationally opened contract ever taken by Maltese companies. Chairing that consortium remains one of the highlights of my life.
Other achievements include the restoration of St John’s CoCathedral, the first project of its kind in Malta, and several major hotel developments. But what gives me the deepest satisfaction is CareMalta, because it is not just business; it is service. A simple thank-you from a resident is priceless. We are still the only company in Malta with a dementia licence, and that recognition means a lot. Casa Arkati in Mosta also holds a special place, becoming a benchmark for quality care. The same applies to HILA, which extended our mission to the disability sector. And now the Mediterranean College of Sport and Campus Hub, which are shaping young people’s futures. Specialisation has become a core part of the Group’s identity, and that makes me proud.
Many second-generation companies tend to falter, but in this case, the Group has grown from strength to strength. What do you believe is behind this success?
My children were equal shareholders from the start, long before they could actively participate. They grew up knowing the business was theirs. Being born and raised inside the company gave them a deep sense of responsibility and belonging. This wasn’t by chance, it was intentional. I never wanted them to be sleeping partners. Today, they are fully involved at the heart of operations. That sense of ownership is what has kept the Group strong across generations.
What is your hope for the Group’s future?
That it continues to consolidate its position in Malta while expanding abroad. Our group has today developed expertise both in care and student accommodation. This knowledge and experience can be successfully applied in other countries. I have personally not managed to live this dream but I’m confident my children will succeed.
Have you achieved the legacy you hoped for?
I believe I have. Nothing happens by chance. You must dream, work, and dedicate your energy to making things happen. Everything within the Group started as a dream… Achievements require determination, perseverance, and belief in yourself and in the people around you. That has been my guiding principle throughout.
What is your advice to those leading the Group? What would you like them to keep foremost in their mind?
Never ask what the company can do for you; ask what you can do for the company. If this mindset is kept alive, the next generations will continue to grow and flourish. My principle, right from the start and to this very day, was always to make every day count for our group.
How do you spend your time these days?
I remain very active. I wake up at 6am and am out by 7am. When I return home, I continue working… even when I’m abroad or on the boat. I love my work. Ideas often come on quiet days, even Sundays. When I face a problem, I think it over, sleep on it, and usually wake up with the solution.
Describe the Group’s next decade in one word:
Leader.
If you had to summarise your journey in one sentence what would it be?
A dream that became reality. Follow your vision with determination.