Dhalia sows seeds overseas

Having Firmly established itself as Malta's leading real estate company, Dhalia has now set about broadening its horizons by making its mark on the overseas market.

The first destinations are the UK and Ireland, where important strategic partnerships have already been clinched. If all goes according to plan, Dhalia should reach its target of 18 strategic partnerships in the region by the end of March 2003.

Last June Dhalia signed its first exclusive collaboration agreement with Bedfords of East Anglia. Similar agreements have also been signed with Hudson Moody (Yorkshire), Matthews Benjamin (Cumbria) and Fisher Wrathall (Lancashire). Another agreement is due to be signed with CB Hamilton Osborne King to cover all of Ireland and final discussions are in the pipeline to sign an agreement with a Scottish firm.

During the third week of October, Dhalia will be initiating talks with other prospective partners covering south and southwest England, the East and West Midlands and Wales. Early next year the network for the UK and Ireland would be completed by forming partnerships in southeast England and the Home Counties.

Meanwhile the first overseas clients as a result of the network were in Malta last week to view local property. Malta is being promoted as a second home, not as a holiday home. Dhalia's UK and Irish partners are selling a lifestyle - Malta gains plus points over Spain, its main competitor, with its low crime rate and favourable geographical position.

Franco Valletta and Chris Grech have an exciting shared vision of taking the Dhalia brand abroad, to open new doors and opportunities and, most importantly, to expose the local market to the foreign platform. With phase one of Dhalia's overseas marketing network nearing completion and with a 100 per cent success rate in the venture so far, the project is well on its way.

"It has always been Dhalia's dream to have the capability, structure and resources to acquire international partners overseas," Mr Grech says. Which means that for Dhalia to have reached this enviable position, the group has undergone a crucial restructuring programme to fulfil a more ambitious corporate strategy, engineered by Dhalia's chairman and CEO Franco Valletta.

The restructuring may have seemed somewhat severe - Mr Grech told the Dhalia annual conference this year that the company "was surviving a professional onslaught by Franco Valletta!" Dhalia let go of 25 members of staff last year, managers and consultants were reshuffled, branches were closed and others opened. Mr Grech, meanwhile, assumed responsibility as business development director and channelled his energy into setting up a unit, building Dhalia's asset portfolio through investment.

Mr Valletta's direction, conceived early last year as part of a three-year strategic plan, is designed to take Dhalia from a local estate agency to a company with an international perspective creating resources and generating opportunities in the short- and medium-term to attract business to the Maltese Islands".

The reality, Mr Grech points out, "is that in order to create demand for the new projects in the pipeline, we must seek overseas clients to complement local buyers."

The human resources shake-up was key. Dhalia has 60 people in sales, close to four times as many as their closest competitor. Mr Valletta has implemented a rigorous work ethic to ensure that all staff are "emotionally committed" as Mr Grech likes to put it. Today particular attention is given to the selection of managers and consultants with emphasis being placed on integrity, accountability and, of paramount importance, customer service. Dhalia in turn is proud of its people and is firmly committed to their professional development.

Mr Valletta's peers were surprised at his move to Dhalia less than two years ago. The man behind the 'new' Dhalia now admits this is the "most enthusiastic phase" in his career and is at his desk every day religiously at 7 a.m.

Both men, who are firm friends, believe Dhalia is a cut above the rest in the industry. The group has worked hard to shake off the 'shark' image that hangs over the local real estate business, which Mr Grech believes has poor standards. There has been substantial investment in training within the group to underline the professional status of real estate consultancy.

Mr Grech says real estate is not about selling property and walking away after securing a signature. It's about advising clients against buying property that is unsuitable, making sure clients are aware of their legal rights where their property is concerned, even in such delicate situations as a couple's separation.

Dhalia had originally considered opening an office in the UK to fulfil its overseas ambitions. However, having considered alternative scenarios, it was deemed more feasible and in line with Dhalia's relationship marketing approach to opt for the development of a network of strategic partnerships as the first step to Dhalia becoming an international player.

Mr Valletta explains that creating, maintaining and nurturing these partnerships is a big challenge and the necessary internal infrastructure is being created to achieve this objective. Dhalia, in its mission, has adopted an ambassadorial role for Malta and Gozo, initially marketing and promoting the destination, and subsequently the local property market, through its network.

Mr Grech believes the days when estate agents promoted a single project are over and Dhalia's partners are being furnished with all the information they require on all types of property available on the local market. Dhalia's philosophy, he explains, is not working to make money but rather making money to be able to work - probably a good indication of just how solid the business is and where it is heading.

The company now plans to target strategic partners in Scandinavia, central and eastern Europe, the Middle East, the Gulf and North Africa by the end of 2004. Beyond that, Dhalia's ultimate aim is to be among the leaders in real estate in the entire Mediterranean region.