The final accounts for the past year show that 2012 was a very good year for AX Holdings. Hospitality, the biggest component of the group’s activities, had one of the best years ever, said AX Holdings chairman Angelo Xuereb in an interview.

Throughout the past year the group has been very focused, which resulted in steady growth in all areas of operation, namely hospitality, construction and development

In the hospitality sector, the group’s hotels registered excellent results. This is testament to the hard work of a young and very enthusiastic team. The past year has also seen an increase in online bookings, especially for the Palace and Victoria hotels as opposed to the Seashells at Suncrest and Sunny Coast Resort where business is still heavily reliant on tour operators.  The introduction of an all-inclusive package at the Suncrest was an instant hit with guests and has contributed to the success of this sector.

The construction sector has also experienced steady growth following a restructuring and rebranding process. In this sector, one of the group’s main successes was the construction of the super structure of the new parliament building. This proved to be an extremely delicate job that required extreme precision and know-how. The steel superstructure for the building involved no less than 7,000 bolts with a tolerance of just 2mm. Not only did AX Construction finish the job ahead of time but also received high appreciation from Bovis. In recent years, AX Construction has also been involved in a number of prestigious restoration projects.

The company has a very full restoration order book for 2014, double what it had this year. Much of this work will be done for third parties, such as the restoration work it is carrying out at the Catacombs of St Paul in Rabat where it is responsible for the construction of an interpretation centre as well as restoring a bigger stretch of the catacombs that have been open to the public so far.

The company has also been working on the restoration of the Valletta bastions and has restored the only gardjolastill in its original form.

On a group level, the group’s debt has been cut down and today the group has a debt amounting to just one-third of its equity, in other words a very low gearing.

As to the new projects the company has in mind, it has launched a €1.5 million refurbishing programme for its hotels. In particular, the Suncrest will continue to upgrade its facilities including the kitchen, back of house and restaurant. This in turn will lead to a €7 million investment refurbishment programme for the entire hotel, giving it a modern look and transforming it into an energy efficient building.

But the main project the company is working on is an entire village for the elderly entitled Hilltop Gardens.

This will be sited in a, 17,000 sq m site on the Naxxar promontory. The site offers enough space for residents to enjoy clean air and add to the quality of life for residents. Accordingly, only 43% of the site will be built up and 57% will remain an open space.

The buildings will be kept low with the highest buildings being three storeys high. It will offer 250 residences, such as apartments or units, each with a terrace, sun beds, and wide spaces inside offering accessibility to residents on wheelchairs. All construction and interiors will be of very high quality with a five-star level of service.

There will be two blocks for independent living with views available from all apartments while one block will serve as a nursing home with a clinic.

The whole site will be well secured with high-end facilities all around. Residents can choose between a self-catering and an all-inclusive type of accommodation. The amenities the village will have include a spa and an outdoor pool, a physiotherapy pool, a fitness centre, a bar and restaurant with a pub and a billiard table, a multi-purpose hall, as well as a crafts centre.

One novelty in this complex will be a stretch of land that will be turned into allotments where residents can spend their free time gardening.

There will also be a bocci club and a library, as well as a children’s play area where residents can look after and play with their grandchildren.

There will also be a 500-metre pathway where residents can stroll. And of course there will be a chapel, which is being designed by Mr Xuereb himself, surrounded by water and lit by natural light.

The entire village will be a green site with a near-zero energy buildings and an estimated 60% reduction in energy costs, through the use of PV panels, and a geo-thermal novelty.

Source: http://www.independent.com.mt