Earning an MBA from Edinburgh University and laying down roots within the construction industry, James Zammit has acquired almost two decades of entrepreneurial experience across four different sectors, demonstrating a capacity for constant adaptation and innovation. The foundational experiences acquired early on, within his father’s construction company, laid the groundwork for future ventures. Having developed an understanding of business growth, timely execution and attention to detail, the Zammit Holdings CEO went on to employ these and other commercial principles for a transition into the automotive industry. 

An appetite for risk and an ability to see things from a different angle helped him notice an opportunity amidst the challenging climate of 2008’s economic downturn. The idea was to bridge the gap between the used and new car markets, capitalising on their different governance structures. The result was a programme of portfolio growth (helped by the Masters in M&A), buying up several well-known used car dealerships and “expanding the car business through strategic acquisitions rather than organic growth”. The efforts paid off, establishing Mr Zammit in the auto dealership sector.

In 2011, leveraging the success of the automotive expansion, Mr Zammit set up Agora Estates plc, a property management entity enabling the subletting of the showrooms acquired by the competitor buyouts. The launch of Agora Estates soon paved the way for diversification into the structured finance domain, tapping into the (then unexploited) convergence of the finance and automotive markets. Finance House plc was subsequently born, providing car loan financing for auto dealerships.

Officially licensed in 2013 by the MFSA, Finance House plc has evolved into a dominant player thanks to “this key B2B2C idea”. The firm now services the majority of the island’s used car sellers and a healthy portion of the new car and boat market. With a service proposition based on speed and convenience, the company’s lightning fast application approval and funds delivery time differentiates it from traditional banks, unable to match this operating level due to regulatory limitations. This competitive advantage is the reason why Finance House plc has chosen to remain a financial institution rather than become a bank, Mr Zammit explains.

The success of the B2B2C model’s implementation, “generating numbers the company had never seen before”, drew the attention of various local banks, leading to collaborative efforts and a broader range of financial products. This achievement has helped Finance House plc fulfil its three year goal plan within one year.

In 2019, after closing the car dealerships, the focus shifted to the next phase of Agora Estates plc’s growth: real estate development. The company’s perspective is characterised by long-term value creation and a commitment to environmental sustainability. Instead of pursuing high-profile or prestige projects, Agora Estates chooses to focus on revitalisation efforts aimed at creating a meaningful impact on Malta’s skyline.

“I started buying the projects most people hate on this island,” Mr Zammit shares. Under the core tenet of sustainability, the Agora Estates team transforms dilapidated properties into energy-efficient locales, actively seeking out infrastructure that meets the highest Energy Performance Certificate grades. The company’s own headquarters, housed in the former Fiat building on Valley Road and upgraded with renewable energy solutions, stands as evidence of this commitment to green building initiatives.

Agora Estates’ operation is underscored by certain key aspects such as the strategic agreements it has cemented to enhance its sustainability efforts. These include a significant contract with a leading local electronics company that supplies solar panels for all its properties. “This collaboration ensures continuous work for the electronics company, guarantees their government-backed repayment for the solar panels and provides our tenants with lower electricity bills and the commercial benefits of renting an ESG compliant property. This is in line with the Group's core values of corporate social responsibility and ESG compliance which considerations should be at the forefront of market leaders across all sectors.” Honouring the environmental imperative is a win-win for all parties. The company’s holistic approach to business prioritises genuine connections over transactional relationships and has fostered enduring partnerships with suppliers of aluminium, electronics, building services and more.

From a financial performance viewpoint, Agora Estates plc is going from strength to strength as highlighted by the February 2024 oversubscription of its first €12 million tranche of an overall €21 million bond issuance. Such extensive investor interest signifies a general confidence in the company’s leadership, direction and future prospects. With the remaining €9 million tranche slated for release later this year, the company feels it is “now playing at Premier League level as it has reached the stage of operating with general public funds”.

From automotive ventures to financing to sustainable real estate, the commercial footprint of Zammit Holdings’ spans diverse sectors. It is reasonable to suggest the company’s operating style bears the hallmarks of adaptability, innovation and strategic vision and that Agora Estates plc and Finance House plc will enjoy continued longevity in their respective industries. Concluding with a guiding business philosophy, the company’s CEO reflects, “Never take your eye off the ball because when you get complacent, you lose the game”.