WILLEMSTAD – The Algemeen Pensioenfonds Curaçao (APC) has highlighted its active role in supporting Curaçao’s economy through strategic domestic investments during 2024. According to its recently published annual report, the pension fund achieved a 4.9 percent return on its domestic portfolio, slightly lower than the 5.2 percent recorded in 2023 but still viewed as a stable result.
APC reported that local loans to sectors such as tourism and utilities delivered consistent returns, while major real estate projects further bolstered its position in the local market. These included the Brakkeput Noord development, the redevelopment of Waterfort Plaza, and the purchase of strategic properties such as Gomezplein 5 and Berg Arrarat 1.
The fund also confirmed progress on the establishment of the APC Bank, which is expected to become operational by the end of the second quarter of 2025.
Balanced portfolio
At the end of 2024, APC held 54 percent of its assets abroad and 46 percent locally. A total of 234.5 million guilders was withdrawn from the international portfolio to cover pension payouts and reinvestments.
Overall, APC achieved a 6.3 percent total return on its portfolio in 2024 (compared to 8.7 percent in 2023). International investments yielded 7.4 percent, with equities showing a strong 14.5 percent return, while bonds delivered 2.2 percent.
Local economy on the rebound
The annual report also notes that Curaçao and other parts of the Dutch Caribbean continued their economic recovery in 2024. Growth was supported by increased stayover tourism, investments in renewable energy, and large-scale real estate projects. However, APC warned that challenges remain, including declining purchasing power, ongoing reform pressures in health care and pensions, and the repayment of COVID-19-related loans.
While the report briefly mentions the Plaza project, it provides no further details on its current status. Looking ahead, APC’s leadership emphasized that under its new Strategic Plan 2025–2029, the fund will continue to invest in both local and international projects with measurable impact.
