Trident Estates Chairman: Conversion of Farsons old Brewery ‘a catalyst’ for investment

The transformation of the former Farsons Brewery into the Trident Business Park has served as a major catalyst for other developers and authorities to invest in the Central Business District, says Trident Estates Chairman Louis A. Farrugia.

As the company published its Annual Report for the year ending 31st January 2025, he praised the project’s impact on the area’s revitalisation, positioning it as a cornerstone of growth for the wider community.

But still, “further upgrading is needed as the full potential of the area has still to be recognised,” he said, adding that Trident Park remains committed to working for the benefit of all stakeholders and the wider community.

Mr Farrugia also highlighted the Group’s strong financial performance, with group revenue rising by 31 per cent to €5.5 million and profit before tax increasing from €1.3 million to €4.4 million. Much of this success, he noted, is due to the company’s ability to achieve 86 per cent occupancy at Trident Park despite an oversupplied office market.

“The results achieved confirm that this ambitious project has been a success story,” Mr Farrugia stated. He credited the management team, led by CEO Charles Xuereb, for completing the €66 million project to the satisfaction of the board and for showing flexibility in managing the business park.

Mr Farrugia also pointed to the Group’s ability to negotiate above-average rental rates, thanks to the development’s high environmental credentials and design standards, which have earned both national and international accolades. These include awards from the World Architecture Festival, the Chicago Athenaeum, and the Malta Architectural and Spatial Planning (MASP) awards.

With additional tenants in negotiation, renewed lease agreements across the portfolio, and the board’s proposal of a €500,000 dividend, Mr Farrugia expressed optimism about the company’s future: “Long may the venture provide all stakeholders with a satisfactory return.”