US tech firm Cayan moving base to Belfast's City Quays 1
An American tech company is moving its Belfast operation to the City Quays 1 development. Cayan, which was formerly called Merchant Warehouse, will take up two floors at the building, which is owned by Belfast Harbour.
The Boston firm is occupying around a third of the waterfront property. It joins US law firm Baker & McKenzie, which has been there for a year.
Cayan, which was previously based at the nearby Clarendon Buildings and which launched in Northern Ireland in 2013, has over time grown its Belfast workforce from 15 to 130. The company is expected to take up occupancy in the spring following the completion of the office, which is being carried out by Graham Interior Fit-out.
Belfast Harbour said it was also in the final stages of signing leases for the remaining space. Property director Graeme Johnston added: "We are delighted that Cayan has grown from an initial business development lease at Clarendon Buildings to our flagship City Quays 1 office. When we refurbished the former Clarendon Building office space, it was to provide incubator space for start-up operations which had the potential for strong growth.
"As part of the package we offer, it was agreed that if companies outgrew their initial space, they could relocate to another Belfast Harbour property at any stage without incurring a penalty.
"It is an innovative strategy devised following feedback from Invest NI and overseas occupiers. Cayan has grown exponentially since arriving and we are thrilled that their expanding team of software developers and engineers will be based at City Quays 1."
The news was announced as Belfast company Lagan Building Contractors landed an £18m project to begin work on the new City Quays 2 building.
It is the latest phase in Belfast Harbour's £250m, 20-acre regeneration plan for the area.
The project is predicted to create up to 600 construction jobs during the build, and is due to be completed in early 2017.