WILLEMSTAD – Former PAR MP Ana-Maria Pauletta has questioned whether Fundashon Kas Popular (FKP) has the financial and organizational capacity to develop Plantage Vetter after the Joint Court of Justice indicated it intends to award the entire property to the public housing foundation.
In a statement issued Tuesday, Pauletta said she supports the Court's vision that the 207,000-square-meter Vetter estate should be dedicated to the construction of affordable and social housing. However, she expressed serious reservations about assigning the entire project to FKP.
According to Pauletta, FKP has not demonstrated the level of transparency or financial accountability required to manage a project of such magnitude.
She noted that the housing foundation has not published annual financial statements during the past 12 years, nor has it publicly accounted for its financial position.
"That is contrary to the principles of good corporate governance," Pauletta said, adding that the absence of publicly available financial information raises legitimate questions about whether FKP possesses the financial strength necessary to undertake the development of Plantage Vetter.
The Court itself emphasized the importance of ensuring that whichever entity ultimately manages the project has sufficient financial stability to avoid insolvency, she noted.
Pauletta also pointed to a 2021 management agreement between the government and FKP governing the administration of public housing. According to her, the agreement required FKP to provide greater transparency regarding its management of public housing assets.
She argues that the foundation failed to meet those obligations, leading the government to suspend part of its funding in 2025 and 2026.
"If FKP cannot provide adequate accountability for the assets already under its management, how can it guarantee transparency for a project as large as Vetter?" Pauletta asked.
The Court has not yet issued a final ruling. A hearing has been scheduled for August 17 before a definitive decision is made on transferring ownership of the property.