A 10-storey office block with a 3,000-square metre footprint adjacent to the Pendergardens development in St Julian’s, aimed at attracting cryptocurrency and blockchain businesses, is scheduled to open by the end of 2019.
Although Malta has become an attractive destination for digital companies because of its low tax rates and the Government’s proactive stance on blockchain, the problem of office space remains pervasive.
Kevin Buttigieg, CEO of RE/MAX Malta and one of the owners of the building, said in comments to Times of Malta that the tower would be to tackle that based on the idea of coworking, since finding and renting permanent office space was becoming so difficult for foreign companies setting up in Malta.
After paying a membership fee, people within the building get a desk, a computer socket, photocopying services, a secretary to handle calls, and all the amenities one can find in a standard office, allowing the company to hit the ground running.
Mr Buttigieg said he believed that between 2025 and 2030, around 60 per cent of the world’s working spaces will be coworking spaces.
RE/MAX Malta has been appointed to promote and rent out spaces at this new property.