Who we are

your preferred partners for hospitality

Both at board as well as at management level, Palm City Residences is run by people who care about what they do and who are proud of the achievement that is Palm City. It is this belief in the product on offer that keeps driving the team to better excellence and bigger dreams.

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A prestigious residential village spread over 14 hectares

Palm City Residences is fully owned and operated by Palm City Ltd. - a subsidiary of Mediterranean Investments Holding p.l.c. MIH p.l.c., a joint venture between National Real Estate Company of Kuwait and Corinthia Palace Hotel Company Ltd., Malta, is a publicly listed company on the Malta Stock Exchange. MIH p.l.c. was set up with the specific objective of developing and delivering quality Real Estate in Libya and other North African countries. Palm City Residences, MIH’s first fully operational project is testimony to the product type and lifestyle that its developments and destinations are all about. Mediterranean Investments Holding p.l.c. has several other projects in the pipeline including the iconic Medina Tower, a 42-storey mixed use building in the heart of the Libyan capital, Tripoli and Palm Waterfront – a residential and hotel development adjacent to Palm City Residences this time with the properties being sold yet operated and maintained by MIH p.l.c.

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Corinthia was founded in 1962 by leading entrepreneur Alfred Pisani and his family, as a fine dining restaurant in Malta. The restaurant was expanded into a 152-room luxury hotel, inaugurated in 1968 and registered under the name Corinthia Palace Hotel Company Limited (CPHCL). In spite of limitations in capital and resources, the Corinthia portfolio grew internationally through keen acquisitions and developments financed by internally generated funds on conservative debt to equity ratios. In 1974, the Libyan Foreign Investment Company (LAFICO) acquired a 50% shareholding in CPHCL. In April 2000, CPHCL commenced a process to consolidate its owned five star hotels, its Brand and management set-up into a new company named International Hotel Investments p.l.c. (IHI) which was listed on the Malta Stock Exchange. In 2007, Istithmar World of Dubai, acquired a strategic shareholding by way of a further capital increase to fund a continued expansion.

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Established in Kuwait in 1973, the National Real Estate Company (NREC) is a publically listed real estate and investment company with a presence in the Middle East and North Africa. Since then, NREC has grown into one of the largest real estate companies in the GCC, with assets and capital exceeding KD542 million (US$ 1,864 million) and KD89 million (US$ 308 million), respectively. Headquartered in Kuwait, NREC houses subsidiaries, entities and developments that span across the MENA region, including the UAE, Egypt, Jordan, Iraq, Lebanon, and Libya. NREC’s portfolio of projects completed or under development, includes office space, mixed use centers, industrial parks, residential communities and super-regional malls. In addition to a strong track record in property development, NREC brings experience and depth of knowledge in property management of commercial complexes and shopping centers.

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Our Team

Board of Directors

  • Reuben Xuereb

    Chairman & CEO

    Reuben Xuereb joined the Corinthia Group in January 2005 as a senior executive, and has since been heading the real estate investments and operations in Libya.  Having worked in the Middle East with one of the largest finance houses and investment groups based in Bahrain, he has specialized in real estate investment structures and is responsible for corporate strategy and business development of MIH.  Reuben Xuereb is also the CEO of Medina Tower Joint Stock Company, CEO of MIH plc and Executive Chairman of QP Management.

  • Samuel D. Sidiqi

    Non-executive Director and Deputy Chairman

    Samuel D. Sidiqi is the Chief Executive Officer of NREC where he looks after a portfolio of real estate assets and developments across the Middle East. Before joining NREC he spent seven years with Agility Logistics and, before that, he worked with Bain & Company where he advised a number of Fortune 500 companies on strategy. Mr Sidiqi graduated from Massachusetts Institute of Technology and received his MBA from the Wharton School of Business of the University of Pennsylvania.

  • Faisal J.S. Alessa

    Non-executive Director


    Faisal J.S. Alessa is currently Chairman of Kuwait based NREC. Before becoming Chairman, Mr Alessa served NREC by leading its business development function and as a board member, Chairman and Managing Director of various subsidiary organisations. Prior to joining NREC, he was the Chairman of United Capital Group, a company registered in Kuwait with over USD 700 million in assets under management. Mr Alessa is a graduate of Barry University in Miami, Florida, USA.

  • Joseph Pisani

    Executive Director

    Joseph Pisani joined Trust House Forte PLC in the UK as an Accountant Trainee in 1988 and was Group Management Accountant when he left in 1993. He joined Corinthia Group in 1993 and has held various executive positions. He is currently Owner’s Director for the Corinthia Tripoli Hotel and is also an Executive Director for BCM, Corinthia’s concrete production and block making plant in Libya. Mr Pisani is a graduate in Finance from the London School of Economics and received his M.Sc. in Management from the University of Surrey.

  • Mario P. Galea

    Non-executive Director

    Mario P. Galea was founder, Managing Partner and Chairman of Ernst & Young Malta until he retired in 2012.  Mr Galea is a certified public accountant and auditor, a Fellow of the Association of Chartered Certified Accountants and a Fellow of the Malta Institute of Accountants. He has served as President of the Malta Institute of Accountants and held various other positions in the Institute, Federation des Comptables Européens (FEE) and the Accountancy Board. Mr Galea is independent non-executive Director competent in accounting and auditing matters and acts as Chairman of the Audit Committee of the Issuer.

  • Stephen Bajada

    Company Secretary

    Stephen Bajada joined the Corinthia Group in 1998 after having spent a number of years as senior manager with the National Tourism Organisation - Malta. Since joining the Corinthia Group he has occupied a number of senior positions and serves as Company Secretary to MIH, PCL and PWL apart from other companies within the Corinthia Group. He is a graduate in business management from the University of Malta.

Management Team

  • Morgan Azzopardi

    General Manager

    Morgan Azzopardi joined Palm City Residences in December 2012 in the position of General Manager, where he is responsible for the management of the business and its representation in Libya. A graduate in medical sciences, international relations and business administration, Morgan has over 15 years of professional experience in law enforcement, contracting and business management through his work with government agencies and service-related organisations.

  • Stephen Micallef

    Facilities Manager

    Stephen Micallef has been with Palm City Residences since February 2010 and holds the position of Facilities Manager. Stephen’s role covers the day-to-day planning and coordination of departmental activities relating to general maintenance, house-keeping, site cleaning and landscaping, as well as front-line guest relations. Stephen arrived at Palm City with over 30 years industrial management experience, with particular expertise in quality control and production, as well as general management.

  • Jean Paul Enriquez

    Food & Beverage Manager

    Jean Paul Enriquez joined Palm City Residences in November 2011, taking up the position of Food and Beverage Manager.  Jean Paul is responsible for managing all the catering outlets within Palm City as well as the outside pool area and the Health Club.  Prior to joining Palm City, Jean Paul worked for 16 years with the Corinthia Group occupying various positions within the F&B Department at the Five-star Corinthia San Gorg Hotel in Malta.

  • Joseph El Sadig

    Financial Controller

    Joseph El Sadig joined Palm City Residences in January 2014, holding the position of Financial Controller. Joseph’s role includes complete responsibility over the Company’s accounting records and regular financial reporting functions, besides internal control, budgeting procedures and procurement related matters. After graduating from the University of Malta in 2000, Joseph went on to occupy several finance management positions in various industries including professional services, retail, aviation and energy.