Friday, 1 February 2013

GSIS eyes real estate

Pension fund manager Government Service Insurance System said it will be more active in the real estate industry this year as a way of generating more income.

“We are looking at the possibility of building government buildings that may take on other government agencies as tenants to generate investment income. We already received interests from other government agencies that are currently occupying old buildings,” GSIS president and general manager Robert Vergara said in a media briefing Friday.

“But that is not easy because it takes approximately 18 months to get the buildings ready…. However, that is something that we are planning to do as a way to generate income from our assets,” Vergara said.

Vergara also said another option being studied by the agency was to invest in international investment markets.

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