What We Do

Zircon Capital Limited is an investment vehicle, investing in real estate and real estate projects as well as mid to large sized companies in Malta. It invests in companies which have an exponential growth potential mainly through re-structuring and streamlining of operations. The Company is today involved in residential as well as commercial real estate business, the food retail industry and the provision of consultancy services.

Real Estate

Zircon Capital Limited has, directly or through its subsidiaries, invested in a number of residential and commercial properties in prime areas such as Sliema, Gzira, Santa Venera, Saint Julians, Guardamangia and Smart City in Kalkara.


Zircon Capital holds a controlling interest in DF Consultancy Services Limited. This company has been set up by the founding partners of DF Advocates, with the aim of focusing on the needs of their financial services clients.

Food Retail

Zircon Capital holds a participating holding in The Convenience Shop Group which owns and operates various mini market shops across Malta under ‘The Convenience Shop’ brand, strategically located in over 40 locations across Malta.


A company related to Zircon Capital Ltd. has invested in an upcoming boutique hotel project, strategically located in Gzira with the aim to connect with business travellers and tourists looking for accommodation at a prime central location.

Board Of Directors

Dr. Kevin Deguara

Managing Director

Kevin is a qualified lawyer and founder partner of DF Advocates, one of Malta leading Commercial Law Firms. Today he occupies the role of joint managing partner of the firm. He has considerable experience acting as a transactional lawyer specialising in real estate. He has over the last 17 years advised developers and landowners on a variety of residential, commercial, retail, leisure, educational and mixed use developments. He also occupies a number of posts as director on the boards of a number of companies involved in retail, manufacturing, real estate, corporate services and hospitality business.

Kevin’s business interest range from corporate cervices to real estate to the food retail sectors. Kevin co-set up his first corporate services business, DF Marine Consultancy Limited, in 2006 specializing in the yachting sector. The company grew to become a market leader in the industry in Malta. In 2015 it was acquired by Vistra, one of the world’s leading corporate service provider. In 2008 Kevin co-set up DF Corporate Services Limited a company licensed by the Malta Financial Services Authority to provide trust and fiduciary services. In 2017 the company was sold to Equiom Group, a well-established, international professional services provider. In the meantime Kevin has, though Zircon Capital, continued to invest in real estate, corporate services and food retail businesses.

Dr. Jean Farrugia


Dr. Farrugia is a qualified lawyer and founding partner of DF Advocates, a Malta-based lawfirm. Dr. Farrugia has advised and still acts on an ongoing basis for major local and international companies including banks, insurance companies, private equity firms, funds, investment advisors and fund/asset managers, in the setting up and licensing of their business as well as on their regulatory and compliance needs. He also advises on an ongoing basis various entities on corporate related issues, including corporate governance, shareholder rights, directors duties, instrument listing and dematerialisation, private placements, restructuring and M&A operations.

Dr. Farrugia also acts as non executive director for a number of regulated entities operating in the financial services sector, including funds and fund management companies with a particular focus on the legal and regulatory aspects of the various operations carried out by such companies, corporate governance, regulatory compliance and AML occasionally accepting appointments also as company secretary, MLRO and Compliance Officer thereby acting as liaison between such licensed entities and the regulator (the Malta Financial Services Authority)

Kenneth Deguara


Kenneth Deguara started his career working for an international ship management company between 1999 and 2006. Occupying the position of accounts manager he was responsible for management accounting, tax compilations and the financial administration of the company. In this position Kenneth became responsible for refit funding management, operational budgets, crew financial management and creditor control.

In 2006 Kenneth joined the DF Group (a group of companies operating in the provision of legal and corporate services) occupying the position of Chief Financial Officer. In this position he has and continues to head the finance department of the DF Group.

Reach Us

For more information send us an email or contact us below.

Il Piazzetta A, Suite 52, Level 5, Tower Road, Sliema, SLM 1607, Malta

+356 2131 3930


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