Trident Estates plc is planning to finalise its Trident Park project by the end of the year, Chairman Louis A. Farrugia has confirmed.
While speaking to WhosWho.mt, he also identified a rise in demand for Trident Park's office space, as the project edges closer and closer to being finished.
This comes as Trident Estates registered a staggering 919 per cent increase in pre-tax profit in the first half of 2022, driven by a rise in revenue primarily generated from its Trident Park project’s new rental contracts.
Mr Farrugia explained that the interim financial results are satisfactory, especially since the company is still at the “very beginning of the commissioning of all the areas” allocated to offices.
“We hope to finish the whole project by the end of the year, with the microbrewery, visitor experience and conference centre still to finish. The gym will open in the next few days,” he continued.
Mr Farrugia added that there is “considerable interest” in the renting of the office space, which will “come to fruition sometime in the beginning to first half of next year”.
“I can say we’re satisfied with the results. It’s been a massive project, built over the last four years, and obviously there was the COVID-19 pandemic in the middle which complicated matters,” he said.
He noted that there is steady progress in the demand for its office space, as while the war in Ukraine and global inflationary pressures are affecting the whole office market, Trident Park still managed to generate an “encouraging rate” of interest.
The company described the property as having the “highest standard, boasting open green spaces abounding with natural air and light”. Parking, along with food and beverage outlets are available on the property and the adjacent Brewhouse.
Trident Estates plc has four subsidiaries, namely Trident Park Limited, Neptune Properties Limited, Mensija Catering Company Limited, and Sliema Fort Company Limited.
Aside from being Chairman of Trident Estates, Mr Farrugia is also Chairman of Farsons Group, Multigas Limited, Liquigas Malta Limited, and Farrugia Investments Limited.
Main Image:
