an interview with Valeriu Costin, Founder and Managing Director of the HiRise Group
Today we bring you a love story, one that involves a young Rumanian who fell in love with Malta (and perhaps even in Malta, but that’s another story!) …. He even influenced his family to join him on our little island and to set up business here. But the love affair isn’t only a business one, it is deeper than that…. It goes into believing in the real values of what Malta has to offer and to respect its beauty and heritage at the same time. “And not to just waste it for the sake of money,” as he himself says..
At the same time, it is always rather interesting to see why foreign businesses relocate to Malta. It easily gives us an idea of what advantages we have here that makes us seem so important to others viewing us from abroad. Valeriu Costin, a 36-year-old from Romania, initially wished to come to Malta and set up business here because it was a safe and stable country with lots of sun and because English was so widely spoken here. He graduated in physics and computer sciences and subsequently worked in the carpentry industry in the family’s business back home, with Paul, his father. Valeriu was convinced that these skills and experiences could be useful for him and for Malta. And to Malta he came….. some ten years ago!
This move resulted in Valeriu setting up shop here to cater for the support sector of the local construction industry. His passion was – and still is – to use his own words, “bringing to life old buildings.”
He is definitely still very much in love with Malta and says that their means of making a living for themselves is rooted in their Mission: “to improve this region’s social environment while maintaining and conserving its cultural identity.”
Valeriu, and Paul Ionica set up what they called the HiRise Group in Malta in 2010 when they transferred their family joinery business to Malta. Initially it was not a formal company, more on the lines of being a familial partnership, but as things grew it became obvious that they needed to set themselves up as a formal company and HiRise Group came into being.
The HiRise Group Ltd structure is made up of two different sections: MT Refurbishing – which is taking care of construction and interior refurbishments – and MT Estate Management – which offers a unique approach to property management.
There will shortly be another new division, one which will concentrate on a workshop mainly for classic furniture and apertures. An emphasis on eco-friendly finishes is also being considered for future expansion.
Now we are giving our clients a full service, including anything from creation and design, planning, building, furnishing, and even the application for and acquisition of the project’s relative permits required
MT Refurbishing began by servicing the needs of direct clients as well as by being sub-contracted by other firms. “Now we are giving our clients a full service, including anything from creation and design, planning, building, furnishing, and even the application for and acquisition of the project’s relative permits required.” This,” he continued, “means that clients can now get all their needs through us; everything that is required for the construction and finishing of a property including the adapting of plans to be in line with changing regulations.”
Valeriu explained that since they started out their slogan has always been ‘Fast and Reliable’. “Notwithstanding that we are fully aware through past experiences of how many variables are involved in completing a project successfully and within the wanted time frames, we commit ourselves to work reliably and as fast as possible in order to execute all works as meticulously, efficiently and timely as possible; whatever the circumstances,” he proudly said.
The process, he explained, works on the close relationship that is generated with the client, thus precisely understanding what their wishes for the project are – be it a house, a block of apartments, a boutique hotel, etc. – “so we have to understand exactly what is required even including personal tastes and styles,” he added. The process that follows leads to their proposing solutions to the client’s requests. Once an agreement is reached, and the work commences, “clients are always kept in the loop”.
Valeriu explained that his formula is based on two major elements – time and functionality. “When we decide to take on a project, we ensure that we take as much time as is needed on the planning beforehand so that there will be minimum time as is needed on the job itself… and not playing about on the planning when one should be finalising projects” he added.
Once an agreement is reached, and the work commences, “clients are always kept in the loop
THE WORKFORCE
To deliver this kind of efficiency, it is obvious that they have had to choose their partners very carefully, both for their actual efficiency and for capability. “They have to be able to deliver to our expectations.” This level of efficiency is also guaranteed through the hand picking of their choice of employees based on their experience and knowledge. He explained that at the moment, there are 16 full time specialists with HiRise and they are not sub contracted or part timers. They are a mix of foreign nationals from Romania and other countries. Valeriu continued explaining that the company is very happy to employ and engage Maltese people. “Certain jobs will be best done by Maltese specialists and craftsmen. An example of this is in the case of stonework for cornices or renovation work. We know that the local specialists we work with will deliver the expected quality. Without any surprises.”
HiRise’s MT Refurbishment section is proud to have so far completed over 49 local projects
MALTA AND ROMANIA
“One has to keep in mind,” added Valeriu, “that the difference between MT Refurbishing and much of our competition is that we do not allow our resources to thin out – it is only when we ascertain to have sufficient resources to complete a designated project efficiently and in time that we ‘start the engine’ on a next project. When we do something, we don’t only do it in the fastest way possible but in the most efficient way too.”
He continued explaining that MT Refurbishing keep as a constant the understanding that the longer it takes to finalise a job, the more frustrating it becomes for the client who cannot start using the project and benefit from his investment until works are completed. “Delivering a job fast alleviates the pressure on the client,” said Valeriu.
Though MT Refurbishing do not overstretch themselves, they typically handle 3 projects at the same time; their team structure ensures that they can move their teams through their project extremely efficiently. “So, if we need builders, or gypsum work, or electricians, then we can move them in when and as required as they already are part of our team and do not need to be brought in from outside the company. This is the kind of efficiency we aim for, though, of course, life being what it is, there are also occasions when we too have to face problems,” he added.
THE COST FACTOR
“As regards the quality of finishes, we present works according to how we reckon that things could be best done, but then we liaise with the client to see what he wants to do. Usually, our ideas agree with those of the client but there are other occasions when we have to adjust to the client’s needs and what he wants to do.
The company is always willing to undertake any kind of projects for interior refurbishment of properties where we think we can add value. Valeriu tells us “I believe very much in keeping the core values of a place, to retain that Maltese element within the finished project as much as possible.”
Delivering a job fast alleviates the pressure on the client
HiRise’s MT Refurbishment section is proud to have so far completed over 49 local projects.
MT ESTATE MANAGEMENT
On the other hand, their MT Estate Management entity is focusing mostly on managing any properties that the clients don’t have time or energy to manage. “Basically, here we have introduced a new concept to the market. And we offer clients the opportunity for us to take an old property and refurbish it and manage it ourselves for a set period of time; after which the owner gets it back without having spent a penny on any hefty refurbishments or otherwise.” In this scenario the owner has the option of getting rent from the property as a partner with HiRise and to later also enjoy the property’s invested as well as natural capital appreciation. “We obviously want to maximise the property’s value for our investment. So, it won’t be just a lick of paint at all, but a complete rehabilitation or modernisation of the property in question. Clients are loving this system!”
WHAT COVID TAUGHT US
Valeriu explains that “the impact of Covid on the construction industry is that it presently has had to carry the weight of other industries, and it will have to do the same in years to come, after Covid.
“Obviously, we have had to adapt in order to keep things going without diluting our core values. At the start of the pandemic we inserted within our Group the role of Health and Safety Officer so we automatically had high levels of safety inserted into our normal routine from its onset. Since we are continuously working with people, internally and externally from the HiRise Group, this was very important; we obviously cannot oversee every human interaction every moment of the day to check what they are doing from a safety and health point of view but we try to keep an eye on them as much as possible. The important thing is to solve problems for everybody. Having one of our managers as a factual and veritable Health and Safety Officer also means that the companies can be advised of the best and safest actions in real-time, at all times.”
Valeriu had learnt the hard way that it isn’t easy to carve a successful business out of the rockiest soil. “But if there’s anything that our legacy has taught us, it’s this: With enough stubborn grit and ambition, a firmly planted support system, and the stability of the local construction and property scenarios, we can overcome whatever obstacles lay in our path” said Malta’s very own Valeriu Costin.
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