R210m complex opened in town-‘Unity House a sign of progress and prosperity’ |24 November 2012

The complex has been built by the Seychelles Pension Fund (SPF) as part of its investment programme, in a project which is today valued at R210 million.

President Michel and the chief executive of the SPF Willy Confait unveiled the plaque to officially open the building in a ceremony attended by ministers, members of the National Assembly and the chairperson of the fund’s board Sitna Cesar who addressed the guests before children from Bel Eau and Belonie schools offered songs and sketches.

Also there were staff of the fund and tenants of the new complex as well as Roman Catholic church Bishop Denis Wiehe and Anglican church Bishop James Wong who together blessed the building and its occupants.

“It is not only a beautiful building which will improve the landscape of Victoria, but at the same time, the economic activities which we can see inside, show the progress and prosperity which is taking place in Seychelles,” said Mr Michel after he toured the building.

He said the SPF should not be seen simply as another government organisation but a fund that belongs to the Seychellois people.

“The Pension Fund belongs to all Seychellois workers, all those who are contributing to it, and it is a guarantee that if you fall ill, or have an invalidity, you can get a pension.

The investment we are seeing  –Unity House – will guarantee the future of the fund, to continue giving pensions to all those who work…. “This investment will supplement the fund when the contributions from workers are not sufficient, and will ensure the fund grows,” he said.

Unity House covers 9,540 square metres of office and business premises, with three floors and a total of 44 shops and 88 offices belonging to 60 tenants. The building is fully occupied. The premises include a supermarket, fast food restaurant, furniture shop, pharmacy, optometrist, flower shop, bureau de change, wine shop, pet shop as well as a range of shoe, clothing and toy shops. The complex also hosts the office of the auditor general, the social services department, the office of fair trading and the energy commissions, Savings Bank as well as Sacos Life Insurance company.

The new Unity House stands where an older building by the same name built in the 1970s stood but was brought down in February 2007 to make way for the new complex.

Mr Confait said the project is a very important element of the fund’s investment programme aimed at earning a good return to help ensure the fund’s financial stability.

Guests touring the building’s premises (above) and visiting a supermarket

“Investment return is a significant source of income of the fund besides pension contribution. It is of considerable importance to enable the fund to attain its objectives to ensure that Seychellois workers enjoy a secure retirement in basic comfort,” he said, thanking SPF board members, management, contractors, architects, engineers, quantity surveyor and all those who helped make the project a success.