One day, so the story goes, a young Vassallo family was driving towards Burmarrad in a blue Mazda. One of the children spotted a building with the word GIRNA written across it and asked what it meant. “It’s a kamra f’għalqa (a room in a field),” replied their father, who proceeded to share a lesson that would become a guiding principle for generations of Vassallos. “As my grandfather used to say, if you have Lm100 buy property, even if it’s just a room in a field. When you pass by, you can say it belongs to you. On the other hand, if you have Lm100 and you put them in the bank, you can’t say you own the bank when you pass by.” This story has become part of Vassallo family lore.
For Natalie Briffa Farrugia, Chairperson of Vassallo Group, it planted the first seed of the family’s lifelong appreciation for property, a passion that remains central to the business today. From a “kamra f’għalqa” the Group today boasts an asset base of more than €460 million. Another family story, often told by her father and Group founder Nazzareno Vassallo, is a lesson about the value of money. As a boy, Nazzareno’s class was invited to join a piggy-bank scheme at school. When he asked his mother for some coins, she explained she had none to spare as she had 11 other children to feed. The next day, he was the only child with an empty piggy bank. That moment spurred him to take on a summer job to earn his own money. And the rest is history. These anecdotes reflect the principles on which the business was built – prudence, hard work, and ownership.
“If you look at the Group’s DNA, with its very diverse portfolio, our core essence is property,” Natalie says. “That GIRNA has grown into a legacy and is still the backbone of all our investment decisions.” Every property developed by the Group, she explains, is built “to perfection and with pride”. “Whatever the service, we take as much pride in the building, as in the operation it houses,” she adds. That respect for architecture and craftsmanship also shaped the Vassallo family home. When Natalie was born, the family lived in Dar Għalija before moving to Ionica in Mosta, a house distinguished by its Ionic columns and intricate stonework. “The workmen spent so much time working on the house that they became an extension of our family,” Natalie recalls. “My mother would cook for them while they worked with great care and skill.”
That appreciation for people remains deeply ingrained in the business, now home to an increasingly international workforce counting 2,096 people from 55 countries. Each and every employee is important, as every staff member is a complete individual. Some employees have been with the company for decades, often joined by their relatives. “The family spirit still exists within the Group,” Natalie says. “We connect deeply to this value because that’s how we were brought up; it’s what formed us.”
As the eldest of five siblings, she naturally assumed responsibility early on, always looking out for others. Compassion, she says, runs in the family. “Empathy and generosity came from my mother’s side, especially my grandmother, who always helped others, even cooking for a neighbour who was a single mother with seven children. If you gave her something, she’d immediately think of who else might need it more.” Natalie sees her role as chairperson as that of a “bridge”, connecting the past with the future and steering the Group towards new horizons.
The Group has already evolved beyond its traditional property-ownership model, finding success with long-term lease projects, such as Campus Hub and the Mediterranean College of Sports. “These two projects show we can embrace business models where it makes more sense not to own the property.” Achieving positive results from the Group’s traditional business pillars remains as important as the increasingly significant contributions from its newer ventures, possibly exceeding
expectations. By the end of this year, the Group is projecting €98 million in aggregated revenue, reflecting the solid performance of its diversified portfolio.
Natalie points out that fostering environmental stewardship and aligning the business to global sustainability standards “remain a priority”. “The scale of our operations and the significant revenue they generate, amplifies our responsibility. In a global climate where ESG principles are increasingly challenged, we believe that genuine progress must be driven by individual and corporate conscience towards the environment. Hope for a better world comes from personal actions and engagement. It’s up to us to save the world for tomorrow; it’s up to you and me.” She quotes the late environmentalist Jane Goodall who famously said: “You cannot get through a single day without having an impact on the world around you.” These inspiring words resonate with Natalie and guide her leadership of this 80-year-old family legacy as it looks to the next 80 years and beyond.
“Every action makes a difference, and you must decide what kind of difference you want to make,” she insists. Preparing the next generation through succession planning and good governance remains her top priority. “We need to not only ensure the present succession, but also the next,” she says. “It’s vital for the business to continue flourishing, and for us to keep dreaming of new perspectives.”
Describe the Group’s next decade in one word: Authentic.
As a guardian of the Group’s 80-year legacy, what do you hope to leave behind? If the Group continues to be authentic, it will always do the right thing.