BSP Life has bought the ‘Regal’ building from Damodar Group of Companies for an undisclosed amount.
Managing Director, Michael Nacola says this is an important acquisition for them.
BSP Life owns the buildings next to the Regal building that houses McDonald’s on one side and the Fiji Airways travel centre on the other.
He says they are confident that its location in the heart of the much sought-after Victoria Parade area will provide sustainable returns.
The Regal building is a landmark property in Suva’s CBD, having housed the original Regal cinema, one of the most popular cinemas in Suva from the 1960s to 1990s.
The Regal building is currently tenanted to Value City Limited.
Other notable properties owned by BSP Life in Suva include Pacific House, BSP Life Centre, Marks House, Parade Building and the gated residential community – The Domain.
Nacola says BSP Life has a dedicated team that works to ensure the pool of funds from their life and health insurance premiums are properly invested.
