Issue link: https://maltatoday.uberflip.com/i/1267406
09.07.2020 6 INTERVIEW Vassallo Group goes back more than 70 years and, over the years, has diversified from Property and Construction to Furniture and Interiors, Elderly and Disability, Catering, Hospitality, Architecture and Education. But what remains your personal core passion? Why? In truth I am attached to each of these sectors since as expected as chairman of the group my involvement is sub- stantial, particularly in the initial stag- es. So in a few words I consider all of them as my "babies". However if I had to be honest I would single out the care sector and property development as the ones closest to my heart. The reason choosing the care sector – el- derly care, disability and health – is quite obvious since through our con- tribution in this sector we can make a difference in the lives of the most vul- nerable persons in our society. And this fact alone motivates me to work harder to grow our involvement in this sector. We also have a historical attachment to property development since it has been our driving force as from the early days. If you could choose just one thing, what would you attribute Vassallo Group's success to? I would say – our diversity. This characteristic stood out recently when Covid-19 struck the world and our country. The fact that we do not de- pend entirely on one sector, particu- larly on those sectors impacted by the measures taken to stop the transmis- sion of the virus such as the hospital- ity industry, helped us reduce the im- pact on our group and obviously save many jobs which would otherwise have been lost. It has not all been plain sailing alone over the years. Looking back, what is one thing you would not do again, given the chance? Honestly, we have no regrets be- cause each experience we have gone through – the more successful and the less successful – has helped us grow, become wiser and take good decisions that led to positive results. Ironically, some of the less successful efforts in- troduced us to new areas which today are contributing to our success. Again, if you were to choose just one thing, what would you say is Vassallo Group's shining glory? Why? Without sounding pedantic once again I have to mention the care sec- tor. Seeing a nice smile on the face of the elderly residents and the other persons we take care of when I visit them on special occasions is the most valuable gift you can receive. Again making a difference, small or big in these individuals' life is the main reason why we are in this sector. But again construction and property de- velopment have also brought so much satisfaction to our group particu- larly when huge projects such as the Danish Village, Malta International Airport Terminal and the Radisson Golden Sands Hotel were completed, the latter in record time. I expect the same level of satisfaction and pride the moment we will complete Cam- pus Hub – a students' complex within the University of Malta which is the largest single investment the group has ever made as well as the Vassallo Business Park in Burmarrad – two big projects we are currently working on. Many argue that the construction lobby in Malta is too powerful, that its contribution to GDP and its ties to politicians make it a de facto unelected power broker. What is your position on these claims? Undoubtedly the construction has been one of the main drivers of the Maltese economy for the last six or sev- en decades. Nobody can argue about this. I attribute the existing perception there is that the construction lobby is too powerful to the importance the sector has to the Maltese economy. How does the group try to offset the impact its projects have on the environment? Why is this important? Throughout the years Vassallo Group took a number of what one can call green initiatives. Perhaps the most 'No regrets, honestly' When he turned 19, he was entrusted with the management of the newly- established Vassallo Builders Ltd, borne out of a partnership started by his father Pio. Today, Nazzareno Vassallo is Chairman of Vassallo Group of Companies that employs over 1,700 people. e company has expanded into a number of segments operating in various fields that include construction, healthcare, IT, hospitality, real estate and catering amongst others. He speaks to BusinessToday about the Group's growth and diversity and his vision for the future of the family business PAUL COCKS I am totally optimistic that all my children will continue growing the business as I have been doing for the past 53 years