‘We don’t shy away from complex projects, and we never do ‘easy” – Denise Xuereb

As both Director of AX Group’s Construction and Development divisions and CEO of AX Real Estate, Denise Xuereb leads some of Malta’s most prominent restoration and real estate projects. In 2025, she will oversee the completion of the landmark Verdala WELLNESS Hotel, while continuing AX Group’s DRIVE towards sustainable and high-quality developments, bringing heritage and innovation together in a way that both respects and redefines the local landscape.

Today, through her dual roles as Director of AX Group, heading the AX Development and AX Construction divisions, and CEO of AX Real Estate, Denise is actively shaping the future of Malta’s real estate landscape. Her passion for both construction and restoration creates a unique synergy in her responsibilities. “My roles are deeply intertwined and complement each other, as they revolve around property, buildings, the built environment, architectural heritage, and restoration. There’s considerable overlap, with one role often affecting the other,” she explains.

Mentored by her father, entrepreneur Angelo Xuereb, Denise pursued her early interest in buildings and design, managing the final stages of AX The Palace in Sliema – a project that kick-started her career in project management. Building on this foundation, she earned an MSc in Project and Programme Management from École Supérieure de Commerce in Paris. Her career milestones also include her work on the Parliament building and her contributions across the group’s restoration division.

One of her recent successes is AX ODYCY Hotel, a four-star, world-class destination at the former Seashells Resort at Suncrest in Qawra. The project reflects Denise’s commitment to regenerating local areas into thriving communities, earning prestigious recognition at the International Property Awards. 

Denise attributes her success to resilience, passion and the adrenaline of witnessing a project through to completion, which help her tackle the inevitable challenges of the industry. “Projects can be mentally and physically draining, but appreciating the small wins each day keeps me focused on the ultimate objective,” she reflects. Her family provides her with perspective and motivation, complemented by a strong work ethic. “It may sound cliché, but I believe in doing what you love, working smart and hard, and being honest in your dealings with people.”

AX Real Estate, established in 2019 as a subsidiary of AX Group to manage the group’s long-term property investments, has quickly built a portfolio that spans hospitality, care homes, a retirement village, commercial spaces, and residential properties. As CEO, Denise has overseen the company’s expansion, transforming properties into thriving spaces. “We focus on acquiring prime-location properties with long-term investments aimed at developing spaces that offer significant rental income potential,” she explains. A notable milestone for AX Real Estate occurred in February 2022 when the company was listed on the Malta Stock Exchange, cementing its status as a key player in the local real estate landscape.

“We don’t shy away from complex projects, and we never opt for ‘easy’. Inspired by my father’s dream and vision of becoming a leading businessperson, our focus has always been on challenging conventional timeframes, with a strong emphasis on quality,” Denise says, pointing to AX Group’s evolution from a family-run construction business to a multifaceted property development company. “While the foundation remains the same – built on values of quality and integrity – we have grown and adapted to changing times.”

One of Denise’s crowning achievements is her contribution to Malta’s built heritage through the restoration of historical buildings. Standout projects in Valletta include the meticulously restored Palazzo Lucia – which she refers to as “a true gem” – alongside St John’s Co-Cathedral and Rosselli AX Privilege five-star luxury hotel. The recent transformation of the Grand Hotel Verdala into a residential and hospitality destination in Rabat further exemplifies their commitment to giving a new lease of life to derelict properties. “Our restoration division is very close to my heart, and repurposing buildings is one of the most rewarding aspects of what we do. Seeing old structures come to life again is something I’m deeply proud of,” she affirms.

For Denise and her team, 2024 will be remembered as a transformative year, marked by the oversight of multiple major projects in quick succession. “This year required a lot of energy – particularly with the completion of Palazzo Lucia, immediately following the extensive ODYCY redevelopment, and just before starting the final stage of the Verdala Terraces in the last quarter,” she reflects. “It has taught us the importance of being dynamic and adaptable. We jumped from one fast-moving train to another in a very short period, and I was impressed by the resilience and strength of the team behind me as we set about completing these significant projects in line with our strategic objectives for the year. There was a real sense of ‘let’s get this done’ – and, thanks to the team’s extraordinary dedication and loyalty, we did.”

As the global economy continues to face challenges, Malta’s real estate sector continues to grow. Denise acknowledges the pressures brought on by inflation and global supply chain disruptions but remains confident. “Property is stable and has proven to be a mainstay of our local economy. Our strategy, as always, is to focus on quality while we grow and lead the way forward for the industry,” she says. “Equally challenging, and of utmost importance, is staying ahead of ever-changing regulations and licensing within the construction sector.”

Denise envisions 2025 as another pivotal year for AX Real Estate and the AX Group. “It will be marked by the handover of Verdala Terraces to new owners and the opening of the flagship Verdala Wellness Hotel,” she reveals. In addition, the demolition and redevelopment of the Sunny Coast Resort & Spa is a significant project on the horizon – a deeply nostalgic chapter for the Xuereb family. “This will be a bittersweet moment, as the Sunny Coast was my father’s first hotel development and AX Group’s first hotel. Watching it being demolished and redeveloped will feel like coming full circle through the generations.”

Specialisation is also high on Denise’s agenda for 2025. “As a company, we are focused on what we do best rather than trying to do everything for everyone. You won’t see us building apartments – we cater solely to complex restoration and construction projects that respect and enhance Malta’s built heritage. We don’t just build on any plot; we aim to add value.”

Beyond these immediate goals, Denise anticipates a greater focus on sustainability and high-end, eco-conscious properties in Malta’s real estate sector. “Sustainability will shape the future of the industry, and we’re committed to leading that change,” she predicts. The company has already integrated eco-friendly practices into its developments, with Denise keen on ensuring that ESG principles – environmental, social and governance – continue to play a key role in shaping future projects, in tandem with the group’s signature commitment to quality.

“Sustainability is more than just a buzzword; it’s about ensuring that our buildings enhance the built environment and safeguard Malta’s natural beauty while delivering long-term value. When you invest in quality, there is always an opportunity for growth,” Denise concludes, holding to her vision of steering AX Real Estate towards projects that combine innovation, heritage and environmental sustainability, while ensuring that the company remains at the forefront of Malta’s dynamic property market. 

This article is part of the serialisation of 50 interviews featured in Malta CEOs 2025 – the sister brand to MaltaCEOs.mt and an annual high-end publication bringing together some of the country’s most influential business leaders.