SPF is selling several of its real estate properties
September 16, 2021
The Seychelles Pension Fund (SPF) is in the process of selling off some of its real estate properties.
In the first phase of this process, four properties have been tendered and they are:
- Corail D’or Apartments at North East Point which is currently a residential property
- La Clementine Building at Baie Ste Anne Praslin, which is a mix of commercial and residential property
- La Passe Pension House on La Digue and
- A plot of vacant freehold land at Anse a la Mouche measuring 4,262 m2.
In total, SPF, will be selling off eight of its properties.
The disposal of these properties is part of SPF’s diversification strategy.
Speaking to the media on Wednesday 15th September, the chairperson of SPF, Marc Hoareau, explained why the fund is disposing of these properties.
“At the moment, our portfolio is overly invested in the real estate sector, and also SPF holds several undeveloped tracts of land that are not generating any revenue.”
To note, for the period 2017 to 2019, SPF reported in excess of 50% of its investments in real estate and a new policy was introduced to reduce SPF’s exposure to 45 % by 2022 and 35% by 2027.
SPF falls under the purview of the Ministry of Finance, Economic Planning and Trade.
For more information on the sale of these properties, click on the link below.
http://www.finance.gov.sc/uploads/files/Press%20release%20disposal%20of%20real%20estates.pdf