Tisa invests K82mil in new building

THE Teachers Savings and Loans Society (Tisa) is investing K82 million in a nine-storey property called Tisa Rua to be built in Port Moresby.
Chairman Gabriel Tai said it would have residential apartments and commercial offices.
“We are grateful to the ongoing support of our valued Tisa members and I am proud to say that this development project was made possible solely from our valued Tisa members’ funds, with no borrowings whatsoever from outside,” he said.
Tisa has also built strong relationship with its tenants at Tisa Haus – two of them Government offices – and hopes to continue the relationships with the Government.
“We are also confident that this development will attract progressive companies and other government departments seeking a future-enabled environment,” he said.
Tisa group chief executive Michael Koisen said the real estate segment of the economy remained attractive to long-term investors and had experienced a steady long-term growth since the 1980s.