The QLZH Group – best known for its real estate brands QuickLets and Zanzi Homes – is seeking to fund its growing ambitions through a bond issue expected to generate approximately €11.67 million in net proceeds.

The capital raised will primarily go towards financing the acquisition and development of secured assets, with a portion allocated to the group’s general corporate purposes.

Founded in 2014 by Stephen Mercieca, with support from his brother Michael Mercieca, QLZH Group began as a single office in Ibraġġ focused on letting brokerage. Since then, the business has evolved into one of Malta’s leading real estate firms, underpinned by an extensive franchise model and the launch of its sales arm, Zanzi Homes, in 2016.

As of 30th September 2024, the group’s assets totalled €7.26 million, including over €3.28 million in intangible assets such as proprietary software and goodwill. Equity stood at €1.35 million, while liabilities reached nearly €5.92 million, mostly composed of trade payables, borrowings, and lease liabilities.

The group reported revenues of €2.1 million for the nine months ending September 2024, up from €1.57 million in the same period the previous year. Income was evenly split between commissions from property deals (€1.08 million) and franchise fees (€1.03 million). The QLZH Group posted an EBITDA of €688,254 for the same period, representing a healthy margin of 33 per cent.

In 2025, the group underwent a strategic restructuring to facilitate its entry into property development. It has since incorporated Dowdall Developments and Dowdall Lease Management, and assimilated QLZH Developments. These entities will spearhead upcoming projects in Rabat and Birkirkara, with the group planning to develop, lease, and sell newly acquired sites over the next two years.

The Group’s operational reach continues to grow. Between 2022 and 2024, QuickLets concluded nearly 13,000 rental contracts – the vast majority for residential properties – while Zanzi Homes closed 405 sales contracts with a total value of €136.1 million. This gives the sales division a notable five per cent market share by value, indicating that it consistently handles higher-value property deals relative to the market average.

Calamatta Cuschieri is acting as sponsor, manager, and registrar of the bond issue, while legal support is being provided by Ganado Advocates.

As the QLZH Group moves into its next phase of growth, the combination of franchise success, new development projects, and continued social impact signals a bold future for one of Malta’s most recognisable real estate brands.