Finding the right location for a global company
For most businesses, growth is a major strategic goal. As a forward-looking company, investments services provider Binary quickly realised that once growth had been achieved, their workspace was no longer adequate.
Back in 2001, Binary was one of the first online trading companies to recognise the value of Malta as a business location. They set up office on the island and got to work as one of the first licensed online trading companies. Since that time, the industry has flourished within the Maltese Islands, and Binary has continued to grow with it.
What made Binary knock on Dhalia’s door?
Ultimately, they had overgrown their office space. With 22 employees, they wanted a minimum of 350 square metres of space, with room for projected future growth. Parking facilities were also a must for Binary’s Malta office. As with the majority of companies involved in the industry, they were looking for a space that was modern, sizeable, bright and practical. “The ideal workplace needs to be in a central location, spacious, and full of light,” said Joanna Frendo, Director of Binary. “We need various workstations, where employees can feel free to roam and change their environment. An area for relaxation is a must, together with parking.” Joanna took these requirements to Etienne Licari, who works on commercial letting at Dhalia’s Gzira branch.
Binary certainly had some unique conditions for this office. Unlike most companies in their field, they did not need to be in the Gzira/Sliema area; which worked in their favour since finding an office that was away from the majority of the traffic was vital for Binary. Another unique requirement was that they did not wish to be far away from their original offices along the Birkirkara bypass. Binary stressed that minimal disruption to their business and employees’ work life was incredibly important for them, and would certainly shape their decision making when it came to choosing a new office space.
The thought process behind Binary’s particular needs was all centred around their employees, so as not to cause unnecessary disruption. Binary’s employees are a diverse group, with a mix of locals and expatriates contributing to a multi-cultural blend of voices in the office. Workers are fond of the island lifestyle, the leisure opportunities available, and the stable political environment in Malta. A happy workforce is a productive one, so it was in the company’s best interests to push for exactly the right kind of office.
“It was quite a challenge to find the right property, since we had specific prerequisites,” said Joanna, “in particular a professional office block which is not common in Malta.”
Since they wanted to remain in the same geographic location, Etienne focused his search around the Birkirkara Bypass area. “Any further away would have made the re-location too disruptive for employees and management,” commented Etienne.
It is a well known fact that property in Malta has a very quick turnaround. The number of business relocating to Malta combined with the island’s small geographic size, means that time really is of the essence. “In July 2018, the word was out that Binary was looking for new offices,” said Etienne. “By December 2018 they had chosen one of the spaces I had shown them, and had moved in by May 2019. A grand total of 9 months!”
As a property agent with years of experience, Etienne shares that the secret to a satisfied client is communication.
“Binary were great clients, really open and communicative,” shared Etienne. “The communication between myself and the team was always organised, clear and efficient. Our ease of communication created a level of understanding of Binary’s needs and requirements, that enabled me to work quickly and efficiently and to propose a number of properties that suited them; which resulted in finding their perfect match.”
The feeling was mutual. “We found Dhalia agents to be professional, responsive and knowledgeable,” said Joanna, “it was a pleasure working with Etienne who really got the idea of our requirements immediately.”
When it comes to commercial property, the process of finding the right space is perhaps less emotionally driven than with residential property. Nevertheless, an office must be comfortable while meeting all business needs such as heating/cooling and telecommunications systems, location, and layout. In the case of Binary’s new office, Dhalia managed to tick all the boxes.
For more information visit: https://www.dhalia.com/
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