Saturday 19 June 2021

Banco Central To Build Buildings For Financial Superintendencies

Banco Central (Central Bank) building in downtown San Jose
Banco Central (Central Bank) building in downtown San Jose

QCOSTARICA – Through a real estate development fund, US$40 million dollars will be raised from the local market to build an office building for the four superintendents of financial markets.

The state managed BN Sociedad Administradora de Fondos de Inversión (BN Administrative Society of Investment Funds) is the manager of Fondo de Inversión de Desarrollo Inmobiliario de Infraestructura Pública, created by the Central Bank of Costa Rica (BCCR) to attract the necessary funds to construct a building to house the offices of the regulators of pensions, insurance, securities and financial institutions.

- Advertisement -

In the fund’s prospectus it states that BN Fondos will issue shares in dollars in the local market with a term of five years. In addition, temporary liquidity loans can be acquired for working capital or permanent financing.

The fund is restricted and public offering aimed at investors with an equal or greater than US$1 million net worth and ability to assume the risks of an investment of this nature.

The aim to move public institutions like the Superintendencias de Seguros (Sugese) – Superintendent of Insurance – the Superintendencias de Valores (SUGEVAL) – Superintendent of Securities – that currently rent space in the Torre del Este in Montes de Oca; the  Superintendencia de Pensiones (SUPEN) – Superintendent of Pensions – renting in the Equus building; and the Superintendencia General de Entidades Financieras (SUGET) – Superintendent of Financial Institutions – leasing space in the Forum II in Santa Ana.

The four agencies for 2015 have budgeted ¢1.323 billion colones (US$2.5 million dollars) for rental payments, two thirds alone to be spent by the SUGEF, according to the report by the Contraloria (Comptroller General).

- Advertisement -

Source: La Nacion

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Today’s Vehicle Restriction June 19: only “ODDS” can circulate

Today, Saturday, June 19, only vehicles with "ODD" ending plates CAN...

American woman found lifeless in hotel bathroom in Sabana

QCOSTARICA - A sad discovery occurred this Thursday morning in a...


13 Powerful Home Remedies for Acne

Acne is considered to be one of the most common skin ailments on the planet, with a record 60 million people being afflicted by...

New Television Program To Promote Family Fun

Q ENTERTAINMENT - Attention families of Costa Rica! A new contest program, led by Douglas Sánchez and Verónica González, is looking for participants who...

Rainy afternoons and nights this week in most of the country

QCOSTARICA - Characteristic of the rainy season, we will see rain in the afternoons and nights in the Central Valley, the entire Pacific coast,...

Tourism’s path to recovery

QREPORTS - A new travel trends research paper released today by Tripadvisor®, the world's largest travel guidance platform, reveals that vaccine rollouts globally are...

Fifth tropical wave precipitation will be heavier in the north of the country

QCOSTARICA - For this Wednesday, the arrival of the fifth tropical wave of the season is expected, thus reinforcing the rainy activity mainly to...

Should the vaccination against covid-19 be opened?

QCOSTARICA - Six months after the start of vaccination against covid-19, will it be time to open the campaign to those who want to...

Opinion: Peru’s electoral drama is damaging democracy

Q REPORTS (DW) In Peru, the left-wing village school teacher Pedro Castillo has in all probability been elected the new president. The fact that...

Ortega government accuses imprisoned opponents of receiving money from the United States to overthrow him

TODAY NICARAGUA – The Nicaraguan government assures that the imprisoned political opponents detained on charges of “inciting foreign intervention” are “usurpers” financed by the...

Immigration system failure affected passengers at the San Jose airport Monday

QCOSTARICA -  In yet another system-wide failure in the immigration check-out, passengers looking to leave Costa Rica Monday morning by way of the Juan...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.