Pension Fund to build R85m complex in Victoria |04 August 2008
It will comprise three new buildings where Unity House used to be in Victoria.
Chief executive officer of the SPF Willy Confait made the announcement at the official launching by President James Michel of the Pension Complex on Praslin on Friday.
Mr Confait said this is the biggest project the Fund has ever undertaken yet as part of its 
In all the three new buildings on the site will house small businesses, government offices and offshore businesses, respectively.
The chief executive said the Fund decided to build such offices because of existing great demand for them.
In five to 10 years a lot of people who will have reached their retirement age in Seychelles, and Mr Confait said the revenue gathered from the building will help SPF maintain the senior citizens.
He said the SPF is investing in property at a good time since returns are currently between nine and 14%.
SPF’s R45complex on Praslin which was officially opened on Friday has 20 shops, 10 offices, 12 apartments and a clinic and is already enjoying a 60% occupancy rate.