Pandemic highlighted need for less but better-quality office space, says Trident Group CEO

As Trident Park, owned and managed by Trident Estates plc, is expected to welcome its first tenants this September, prospects for the uptake of commercial property within the landmark building in the Central Business District are promising, with Trident Group having already secured over 40 per cent of occupancy by the end of financial year January 2021.

Charles Xuereb, CEO of Trident Group, said during the company’s Annual General Meeting that group revenues for the financial year are largely on par with the previous year, at €1.1 million, notwithstanding certain discounts extended to a number of tenants due to unforeseen realities caused by the COVID-19 pandemic.

“Following the pandemic, when many companies opted for a hybrid office-home model, two potential factors seem to be emerging: the need for less office space, matched by the need for better quality office space, both in terms of facilities and environment, and a lesser density per capita,” says the CEO.

“In the uncertain forthcoming months, as the economy recovers from the pandemic upset, our Trident Park development will be well-placed to meet the demands of the emerging paradigm − a ‘green’ environmentally-friendly campus office park, providing space, air, natural light and parking, with maximum flexibility in terms of individual configuration requirements,” Mr Xuereb added.

Trident Group is currently focused on finalising the €60 million project while continuing its drive to attract tenants to Trident Park, which so far includes a mix of foreign and local companies in the fields of corporate, legal, medical services, banking, fund management as well as a government entity.