From international trade to property development
Exalco’s history began in 1987, when the company was founded by its owner and Managing Director, Mr Alex Montanaro. At the time, its core business was international trade in non-ferrous metals through Exalco (Metals and Steel) Limited. The company supplied customers with aluminium billets and other base metal products, including copper, zinc and steel commodities.
From its early years, Exalco followed a policy of consolidating its existing business while exploring new and sustainable opportunities. At the same time, the company recognised the potential of property development in Malta.
Malta was attracting new businesses and foreign investment, while the supply of high-quality commercial offices remained limited. As a result, Exalco identified an opportunity to expand into the property sector.
In 1989, Exalco (Property Leasing) Limited was established to acquire and develop real estate. Its aim was to generate revenue through long- and short-term leases of office and retail space.
Subsequently, the company acquired and developed several small-scale properties. These included Borton House in Mosta, which initially housed Exalco’s offices, as well as Tilbury House in Balzan, Everton House in Attard and Aston House in Naxxar. All were leased to local office tenants. However, the latter three properties no longer form part of Exalco’s property portfolio.
Building a portfolio of business centres
As the Maltese economy developed, Exalco identified open-plan office space as an important opportunity for growth. Malta was actively attracting international companies, particularly in sectors such as financial services. Meanwhile, local businesses were also expanding as Malta approached EU membership.
In 1997, Exalco acquired and developed its first commercial business centre, Parklane Business Centre in Gwardamangia. This marked an important milestone in Exalco’s history.
With this development, the company positioned itself as a pioneer in purpose-built open-plan office premises for corporate tenants. These spaces served both established Maltese businesses and international companies setting up operations in Malta.
Following the success of Parklane, Exalco continued to expand its portfolio. Further business centres were developed in prime locations across Malta, including Mayfair Business Centre in St. Julian’s, Cornerstone Business Centre in Mosta and Marina Business Centre in Ta’ Xbiex.
Recent developments
In 2017, the company completed the development of Golden Mile Business Centre, formerly known as @GiG Beach. The building stands out for its distinctive architectural design and its location close to the sea in the Golden Mile area of St. George’s Bay, St. Julian’s.
More recently, Savoy Business Centre in Sliema became the latest addition to Exalco’s portfolio. In 2023, Exalco acquired the former Savoy Hotel property, commonly known as the Old Savoy. Redevelopment works began in December 2024, with completion targeted for the end of 2027.
Today, the Savoy Business Centre represents the latest chapter in Exalco’s history. Moreover, the project reflects the company’s continued growth and its commitment to providing high-quality business centres in Malta.
