At the time, a lot of controversy and anger was aroused among the residents of the posh Sliema district of the former Victoria Avenue, today renamed George Borg Olivier Street after the former prime minister whose house is a neo-Gothic jewel still standing there. the residents have been up in arms about the new hospital and hotel venture being set up on the top end of the staid and normally placid street.
Despite somewhat widespread misgivings in the financial sector, Angelo Xuereb, owner of the Suncrest Hotel and Chairman of AX Holdings, looks set to win his gamble. The share and bond might be fully subscribed by today, a full two days before the closing of the subscription lists.
Maltese investors are being offered the opportunity to buy shares or bonds on the island’s biggest Hotel – the 458-room Suncrest in Qawra. Two million shares in Suncrest Hotels PLC, which has registered profits consistently since it was opened nine years ago, are being offered for sale by its parent company AX Group.
Malta’s latest private hospital will be completed by July, having cost developers AX Holdings LM7.5 million to construct. The 80-bed Capua palace Hospital in Sliema, will be officially opened on July 19. The Historic palace is incorporated into the building.
Two very difficult companies forming part of the AX Holdings group have just received official recognition for their dedication to qualify. The companies are General Precast Concrete Ltd and The Suncrest Hotel.
AX Holdings is investing LM25 million between this year and 1997 in seven local projects, including the refurbishment of the Grand Hotel Verdala in Rabat, which will become the group’s flagship. The Verdala project, which will cost LM 7million, includes an 18-hole golf course in the fields below the hotel, chairman Anġlu Xuereb said yesterday.
Among the things that attract upmarket tourists are the facilities found in the country. We are sure that the Suncrest hotel offers a good product and will, therefore, help the country attract such tourists. The Prime Minister. Dr Eddiie Fenech Adami, on the inauguration of the Hotel.
A major development in a prime central position. Very airy, spacious and prestigious 3- bedroomed apartments with an approx. area of 232.35sq.m. (2.500 sq. ft). Immaculately finished to luxury standard throughout. Well ventilated carpark/garages, private, drive, lifts. Unbeatable prices.