FNB Newton Place in Port Elizabeth is the bank’s new regional office and the largest office block under construction in the city over the last few years.
Ramalingum says the bank’s total investment in the region is in excess of R160 million with plans to invest a further R30 million on the upgrade of the FNB Newton Park Branch.
According to the bank, FNB Newton Place will house all FirstRand Group Business Units and will be occupied by group companies including Rand Merchant Bank (RMB), FNB Private Clients, RMB Private Bank, Global Transactional Services, International Banking, FNB Insurance Brokers, FNB Commercial, Premier Banking and FNB Online.
Sagren Ramalingum, FNB provincial chairman says the city of Port Elizabeth’s economy is increasingly modern and export oriented, with great potential for growth of existing and the establishment of new industries.
“We strongly believe in the economic growth potential of the Eastern Cape and the building of the regional office complex is part of our continued investment into the city,” says Ramalingum.
Ramalingum says the bank’s total investment in the region is in excess of R160 million with plans to invest a further R30 million on the upgrade of the FNB Newton Park Branch.
The design of the building boasts mechanical and electrical installations, which are energy efficient and are arguably the first of a few in South Africa with the flexible sprinkler installation, he says.
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