Informative sessions for members at GEBE and Telem.
PHILIPSBURG:---- Vidanova can only have admiration for the energetic drive with which Minister Christophe Emmanuel of St. Maarten's Public Housing strives to implement plans for affordable housing for first home owners. The minister has his thoughts on the conditions under which those should be offered, and these conditions will be further assessed when discussing the specifics of this project with the developer.
The minister has his ideas specifically set on the creation of 160 new homes at Valley View Estate near Dawn Beach. To this end, he approached the board and management of Vidanova pension fund to finance its first phase consisting of 50 homes. Vidanova's leadership has immediately indicated that it is not unwilling to look at it, but it must first receive all relevant data in order to make a balanced assessment. For the time being, Vidanova is awaiting some additional information, which would then allow them to make an expert analysis that meets specific criteria of the fund.
Information sessions
Last week, Vidanova's leadership held information sessions for the staff of the utility companies Telem and GEBE, which are affiliated to the pension fund. General issues about pensions were raised, but because the possibility of Vidanova’s involvement in the Valley View Estate had been in the news, questions were asked also about the options for them to benefit from this housing project. Several members showed interest in acquiring a first home, once the project will be realized as announced by Minister Emmanuel.
Vidanova explained that its primary priority is to ensure that the retirement pension premiums are wisely invested, with a view at achieving a reasonable return on investment to ensure future retirement benefits and that in this view Vidanova is more than willing to invest in Sint Maarten and a housing project that fits within the investment policy of the Fund. Vidanova is however waiting for additional information to make a thorough analysis of this project and is open for further discussions with all stakeholders to see if a deal can be prepared, which also must safeguard the interest of the clients affiliated to the fund. In the meantime, Vidanova also looks at other potential interesting investment opportunities in St. Maarten for which exactly similar criteria will be applicable.
\r\n\t\t\t\t\tVidanova carefully weighs its investments.
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