FNPF to acquire QBE Insurance Arcade
February 20, 2021 6:17 am
The Fiji National Provident Fund has agreed to acquire the QBE Insurance Arcade Building, along Victoria Parade in Suva.
Acting Chief Executive, Viliame Vodonaivalu, says the property ties up to their long-term strategy of attaining high quality commercial assets with credit-worthy tenants and having the potential for a wide range of commercial developments.
The acquisition further adds to the Fund’s overall property portfolio, which now stands at 29.
Vodonaivalu says the location of the building is convenient to customers which signifies FNFP’s commitment to boost investments and improve customer service delivery during these trying times.
He adds they’ve been a long-term investor and will continue to strive for growth of the property sector in the Fijian economy.
QBE Country Manager, Phil Chisholm, says they’re delighted to collaborate with FNPF to complete the sale of the building and secure a long-term leaseback as the anchor tenant.