Fiji is experiencing a development boom with increase in hotel developments in progress as well as announcement . This shows an increase in investor confidence as well a pent up demand for hotel rooms. This will have a positive impact on overall economy
Read MoreThe collation of crucial housing-related data, including adequacy, demand, supply, and pricing, poses a challenge, according to Housing Minister Maciu Nalumisa.
Read MoreRelevant economic stakeholders are planning to host frequent meetings to discuss ideas.
Read MoreTourism Fiji launched a revitalized version of its well-known “happiness” brand to a new one, “Where Happiness Comes Naturally”.
Read MoreUnity Fiji Party Leader and former governor of the Reserve Bank of Fiji, Savenaca Narube, says investors assess corporate tax before investing in a business.
Read MoreOutrigger Fiji Beach Resort is currently undergoing a multimillion-dollar major renovation.
Read MoreThe Reserve Bank of Fiji says in comparison to the international economy which was in shifting sands throughout the year, the domestic economy is making strides through the marked recovery in tourism.
Read MoreThe Fijian economy is expected to grow by 12.7 percent this year.
The forecast by Westpac Fiji, states, this is 0.2 percentage points lower than the 12.9 percent growth anticipated earlier.
Read MoreThe Fijian economy continues to benefit from the recovery in the tourism sector, which has also been further boosted by the increase in inward remittances from Fijians overseas.
Read MoreNinety million dollars has been invested into the development of Nawi Island in Savusavu over the past 18 years.
Read MoreThe World Bank in its latest East Asia and Pacific Economic Update is estimating that the Fijian economy will grow by 12.6 percent this year.
Read MoreFiji’s domestic economy is on track with a strong rebound for this year.
Read MoreThe total assets of the Fijian insurance industry recorded a growth of 11.2 percent to $2.3 billion in 2021.
Read MoreFiji’s dynamic and conducive business environment is attracting a number of foreign investors.
Read MoreThe Fiji Development Bank has inked a partnership with the iTaukei Land Trust Board to enhance its customer service delivery, particularly in obtaining clearance for mortgage and consent to the transfer of native leases.
Read MoreFiji remains attractive to investors and as a result, a growing number of innovative businesses are being established here.
Read MoreThe shift toward E-Commerce underlines the need for businesses to continually innovate to stay competitive.
Read MoreThe Australia Trade Mission hosted by Investment Fiji last month has brought successful opportunities for one local company.
Read MoreThe Fiji Investment Corporation Limited is inviting interested locally owned entities to submit an expression of interest for investment.
Read MoreTwo hundred and thirty-four Fijians have taken over five years length of absence or permanently moved overseas while the visitor arrivals for July this year stood at a total of 78,638.
Read MoreThe March quarter construction activity indicators for Fiji point towards a rebound in activity as the number of building permits, completion certificates issued and value of work put-in-place increased both over the quarter and year.
Read MoreDevelopers have been invited to register interest in a landmark housing project in the country, which will provide affordable, climate-resilient homes for 3,000 low and middle-income families.
Read MoreA landmark housing project will get underway in Fiji soon which is expected to mobilise an estimated US$200 million of private investment in the country.
Read MoreThe Fiji Hotel and Tourism Association has applauded the range of initiatives announced in 2022/2023 National Budget, saying they will continue to enhance and support private sector-led recovery efforts.
Read MoreSupply chain issues and shipment delays has seen some businesses in Fiji increasing storage capacity.
ANZ Country Head for Fiji, Rabih Yazbek says in many cases, businesses have spent working capital to buy excess stock to ensure they don’t run short on supplies
Read MoreFiji’s current economic activity has to some extent, countered the harsher impacts of domestic inflation on ordinary consumers.
Read MoreThe provisional direct tourism value added for 2020 was $38.5 million, or 0.5 percent of total gross value added.
Read MoreThe Ministry of Commerce and Trade is working with relevant stakeholders to promote Fiji as an investment destination.
Read MoreThe RBF has forecast the domestic economy is expected to gain momentum in the coming months
The Reserve Bank of Fiji in its latest economic review says the positive momentum in the domestic economy has bode well for the financial sector.
Read MoreFiji Airways is currently exploring new service routes outside of New Zealand, Australia and the USA.
Read MoreThe Minister for the Economy has announced that land evaluations by both the Ministry of Land and the Itaukei Land Trust Board will now be outsourced.
Read MoreWestpac Fiji expects the Fijian economy to expand, but now at a faster pace.
This was highlighted in Westpac Fiji’s Quarterly Economic Update.
Read MoreA two-million-dollar investment in Port Denarau Nadi has seen Sails Restaurant open.
Read MoreThe Asian Development Bank in its latest outlook says the Fijian economy is projected to recover, growing by 7.1% in 2022 and 8.5% in 2023.
Read MoreThe Ministry of Commerce and Trade has noted a positive response from businesses conforming to the new changes announced by the government in the 2021/2022 national revised budget.
Read MoreThe 2022 Fijian Tourism Expo received a major boost ahead of the premier event next month.
Westpac Fiji has signed on to be Gold Sponsors providing a backing of $45,000.
Read MoreFor the real estate sector to thrive, Fiji needs to work within the boundaries of the law and bring in the right skills and discipline.
Read MoreIn the 2020–2021 financial year the Ministry paid $7.5m under the first home owners’ initiative to 433 successful applicants.
Minister for Housing Aiyaz Sayed-Khaiyum says this was the highest payout since the program was introduced.
Read MoreReserve Bank Governor, Ariff Ali says the domestic economy is on its path to recovery after two years of contractions largely led by the tourism industry which came to a standstill because of COVID-19.
Read MoreThe Minister for Commerce, Trade, Tourism and Transport, Faiyaz Koya, met with a Kuwait company on his trip to the Annual Investment Meeting being held in Dubai, UAE.
This is on the margins of the Expo 2020 held in Dubai which ended on Thursday.
Read MoreThe Consumer Council of Fiji has received 84 complaints pertaining to landlord and tenancy issues this year.
Read MoreThe business sector has shown resilience during this third wave of the COVID-19 pandemic as most have implemented lessons learnt from the last two waves.
Read MoreTourism will continue to play a major role in our economic growth.
With more states in Australia opening up for international travel, Fiji National University’s College of Business Dean, Professor Arun Elias believes this will augur well for Fiji.
Australians have made up the largest number of arrivals to our country since the international border opened last December.
Read MoreTrade between Fiji and its partners has not faced much disruption during this pandemic.
This is particularly for trade between Australia and New Zealand.
Read MoreThe Reserve Bank in its latest economic reviews has stated that abundant liquidity in the banking system and quantitative easing measures by them have helped keep borrowing rates low.
Read MoreEconomic activity started to pick up from the last quarter of 2021 as mobility restrictions were eased and international borders re-opened from December 1st says the Reserve Bank of Fiji.
Read MoreThe resumption of international travel has brought increased confidence in the Fijian market.
Minister for Economy, Aiyaz Sayed-Khaiyum says the past 18 months have been unstable due to the unknowns brought about by the pandemic.
Read MoreThere is a need for professionalism in the real estate says Minister for Housing Aiyaz Sayed-Khaiyum.
Read MoreFiji is in a much better position today than it was six months ago.
Presenting at the Fiji Human Resources Institute Convention this morning, Reserve Bank of Fiji Governor Ariff Ali says general business has improved sharply and people are spending more on the back of the economy opening.
Ali says he is optimistic that growth will hit double digits next year.
Read MoreThe Real Estate Agents Licensing Board has been working on five critical projects to improve service delivery.
Board Chair, Doctor Abdul Hassan says they intend to enhance organizational capacity and foster real estate industry compliance.
Read MoreThe restrictions on the property market are getting tougher as loan to value ratio restrictions come into place.
From today, the amount of lending banks can make to owner-occupiers with small deposits, will be halved to no more than 10 percent.
But despite the tougher lending conditions, one mortgage broker said people shouldn’t expect an immediate cooling down for property.
Read MoreFiji’s economy is forecast to grow by 23.2% next year, on the back of a boom in tourism.
ANZ in its Pacific Economic Outlook has stated that closed borders due to the pandemic took a heavy toll on the Fijian economy which relies on free movement of people as international tourism accounts for 40% of the Gross Domestic Product.
Read MoreNew ventures continue to spring up in Nadi despite the severe impact of the pandemic on our economy.
The Lales Millennium Group of Company has again invested in a new business, Lales Ocean Collection, signifying the confidence they have in the economy.
Read MoreAttorney-General, Aiyaz Sayed Khaiyum, says the Opposition is objecting to ordinary Fijians increasing their participation in the economic well-being of the country.
Read MoreThe resumption of international travel from next month will allow interested companies to pursue investment opportunities in Fiji with a specific focus on infrastructure.
New Zealand Trade Commissioner to the Pacific, David Dewar says there have been a lot of inquiries from companies hoping to explore opportunities in Fiji.
Read MoreInvestment Fiji is working tirelessly to promote Fijian products and services to Japanese companies.
Read MoreThe International Monetary Fund has forecast a gradual recovery in Fiji’s economy late this year.
The IMF team leader Todd Schneider says COVID-19 put Fiji in a tight corner, and the government had to make tough decisions and borrow more.
Read MoreThe real estate sector says the pandemic has had little effect on property prices and sales.
Real Estate Association President, Anand Goundar, says the lockdown posed certain challenges as agents were not able to show properties to interested buyers.
Read MoreA leading real estate company that has been operating for two decades, says despite the various tumultuous events the country has been through, residential and commercial property prices have remained stable.
Read MoreFiji’s international border will re-open to its travel partner countries from November 11, 2021.
Read MoreThe Fiji Development Bank has received an overwhelming response from businesses for it COVID-19 Recovery Credit Guarantee Scheme.
The Scheme aims to assist Micro, Small and Medium Enterprises as well as large businesses affected by the pandemic.
Read MoreClose to 8,600 online applications were received by the Ministry of Agriculture for the new programs.
Read MoreAs businesses re-open from today, authorities have cautioned that breaches of COVID safe protocols will not be tolerated.
Read MoreThe Association of Banks in Fiji has confirmed COVID-19 financial relief assistance to businesses will be extended to 31st March next year, on a case-by-case basis.
Read MoreThe Ministry of Health is advising all workplaces and businesses to establish strategies to ensure personal COVID safe practices continue.
Read MoreFiji Airways, Qantas and Virgin Australia have started taking passenger bookings for December.
Fiji Airports acting Chief Executive, Isei Tudreu says they are working with these airlines to ensure a seamless and safe airport experience when borders re-open.
Read MorePost Fiji Limited chief executive, Dr Anirudha Bansod says business is slowly bouncing back following the drastic impact of the COVID-19 pandemic.
Read MoreAround $50m worth of loans have been approved under the $200m scheme announced in the 2021/2022 budget.
Read MoreTwo cruise companies in Nadi are already counting down the days, as they prepare to welcome guests.
Read MoreThe Fiji Development Bank has been holding virtual meetings with various community leaders including farmers and small businesses.
Read MoreThe Reserve Bank of Fiji Board has announced further enhancements to its Disaster Rehabilitation and Containment Facility.
The changes include an additional funding allocation of $200million, a limited and tiered guarantee targeting MSMEs, streamlined debt recovery processes and the removal of related fees and charges by participating financial institutions for two years.
Read MoreHFC Bank has announced an all-women leadership at the Bank’s Corporate Banking division.
The Bank is the first in Fiji to have an “All Women” corporate leader, which is the most prestigious segment in the banking environment.
Read MoreEconomic activity slowed significantly in late April and May as the spread of the Delta variant intensified in the country, worsening Fiji’s socio-economic situation however some pick-up has been noted from June as more businesses and citizens adapted to the COVID-19 environment.
Read MoreBRED Group is carrying out capital increases of nearly $70 million for its subsidiary BRED Bank Fiji to accelerate the development which will boost its growth in all market segments, including corporate and institutional financing.
Read MoreInvestment Fiji’s Trade and Investment Advisors are in constant contact with existing investors and exporters in a bid to maintain supply chains as well as seeking new markets.
Read MoreLiquidity levels in the banking system increased to $1.7 billion at the end of May, mainly as a result of an increase in foreign reserves.
According to the Reserve Bank of Fiji (RBF), foreign reserves increased to $3.1b – sufficient to cover 11 months of retained imports.
Read MoreThe Reserve Bank of Fiji has reduced its interest rates for financial institutions that borrow under its Import Substitution and Export Finance Facility, Disaster Rehabilitation and Containment Facility and the Housing Facility.
Read MoreInvestment Fiji in partnership with the Pacific Trade Invest (PTI) China and the Chinese Embassy launched the Fiji-China Trade Expo series.
Read MoreThe Fiji and New Caledonia e-trade expo has received a positive response since its launch last month.
Read MoreThe Public Rental Board has managed to complete its first-ever internal audit to find out where and how it can improve.
PRB Manager Properties Maloni Daurewa says they have been liaising with the Board and committee in terms of implementing the recommendations of the audit.
Read MoreThe Fiji National Provident Fund is expected to make an announcement soon on the home loan assistance passed in parliament in December.
The COVID-19 Response Home Loan Act, allows FNPF members to dip into 50% of their retirement savings to pay off home loans if they have been financially affected by the pandemic.
Read MoreThe performance of Investment Fiji has been successful from the year 2016 to 2019.
This was revealed in their Annual Reports for the same years that was submitted to the Parliamentary Standing Committee on Economic Affairs this morning.
Read MoreLiquidity in the banking sector is close to hitting the billion-dollar mark.
The Reserve Bank of Fiji confirms as of 14th March, banks had accumulated $953 million in cash deposits.
Read MoreTOORAK CENTRAL is scheduled to officially open in September 2021.
About TOORAK CENTRAL
It is a comprehensive refurbishment of a landmark two-level commercial building, located in Suva’s Toorak district.
The Ministry of Housing has a further 152 applications for the First Home Grant Assistance Programme.
Speaking in the parliament, Minister for Housing, Premila Kumar said that the demand for the grant has been overwhelming.
Read MoreThree major building applications worth $28.4 million were approved by the Department of Town and Country Planning last November.
Read MoreThe property valuers are not that active in the market as they used to be in previous years.
Read MoreReal Estate agents have been urged to re-look at their costs due to a decrease in commissions from sales.
Read MoreProperty prices have dropped in the country and consumer confidence is at a very low level say Real Estate agents.
Bayshore Real Estate Director Arif Khan says most people are making offers much lower than the valuation price.
Read MoreMajority of municipal councils have implemented the payment system to recover the amount of rates owed.
Local Government Minister, Premila Kumar says it’s been noted that a lot of businesses and people with properties are trying to take advantage of the payment system.
Read MoreDays after confirmation that banks are considering interest rates reductions, a number of them have announced new measures.
ANZ has removed loan approval fees for new customers while HFC no longer charges administration fees on first home loans.
Read More2022 will be Fiji’s year of growth once COVID-19 is managed and vaccines made available.
Economist, Dr Rohit Kishore says people in Fiji and around the world want to get out of their confined spaces, meaning tourists will return once borders open.
Read MoreCommercial Banks have increased their provisions for high-risk loans given the mounting deferment of payments due to COVID-19.
Association of Banks Chair Rakesh Ram says, as of September banks have provisioned $100 million as bad or doubtful debts.
Read MoreCommercial banks are extending COVID-19 hardship assistance on a case-by-case basis until March 2021.
Association of Banks Chair Rakesh Ram says Fijians who have loans must be able to prove that they are having difficulties making re-payments due to financial constraints brought on by COVID-19.
Read MoreThe European Union has signed a new trade project worth 14.3 million Fijian Dollars with the Pacific Island Forum Secretariat.
It aims to increase trade opportunities in the Pacific by strengthening institutional and human capacity in the region.
Read MoreCommercial banks have for the first time come out to say they are ready to slash interest rates in 2021.
Read MoreCommercial banks are extending COVID-19 hardship assistance on a case-by-case basis until March 2021.
Association of Banks Chair Rakesh Ram says Fijians who have loans must be able to prove that they are having difficulties making re-payments due to financial constraints brought on by COVID-19.
Read MoreCommercial Banks have increased their provisions for high-risk loans given the mounting deferment of payments due to COVID-19.
Association of Banks Chair Rakesh Ram says, as of September banks have provisioned $100 million as bad or doubtful debts.
Ram adds this figure will increase because COVID-19 isn’t over yet, and will eventually hit the bank’s bottom line.
Read More2022 will be Fiji’s year of growth once COVID-19 is managed and vaccines made available.
Economist, Dr Rohit Kishore says people in Fiji and around the world want to get out of their confined spaces, meaning tourists will return once borders open.
Read MoreDays after confirmation that banks are considering interest rates reductions, a number of them have announced new measures.
ANZ has removed loan approval fees for new customers while HFC no longer charges administration fees on first home loans.
Read MoreVarious sectors performed well below expectations in 2020 due to the effects of COVID-19.
The Reserve Bank of Fiji in its annual Economic Review states sectoral performances of various industries continued to be subdued well into the end of the year.
Read MoreThe Reserve Bank of Fiji says partial indicators for consumption spending have noted weak outcomes in 2020 and cumulative to November, VAT collections fell by an annual 38.6 %.
Read MoreThe Reserve Bank of Fiji says as at 31st December, total liquidity in the banking system stood at $836.8 million.
Read MoreThe extension of the rent freeze to 31st December is solely to help Fijians during this difficult economic situation.
The Fijian Competition and Consumer Commission say they understand that many Fijians have either lost their job or working on reduced hours which is impacting their ability to pay rent.
Read MorePrime Minister Voreqe Bainimarama says with more pandemic-driven population movement to more rural regions of the country, more landowning units should subdivide and eventually lease land that does not currently have any productive use.
Read MoreThe Reserve Bank of Fiji has projected that 2020 would note the largest economic contraction on records at -19 percent.
RBF Governor Ariff Ali says the recovery forecast next year is dependent on the reopening of borders and resumption of international travel.
Read MoreAn informal settler will need to bear the full cost if their homes are required to be removed or relocated under the new Informal Lot Allocation Policy.
The Ministry of Housing and Community Development will be carrying out public consultations on the new policy that will look at how lots are allocated in developed informal settlements.
Read MoreThe CEO of the Fiji National Provident Fund, Jaoji Koroi says under their existing housing withdrawal policy, members can access their General Account to reduce or pay off their home loan, provided their funds will reduce the debt by at least 15%.
Read MoreCastle Properties is looking at investing $7.5Million on a 16 unit development.
This was confirmed by the company owner and managing director, Vijay Sharma, who said the development, would be next to the Marina Apartment at Uduya Point on Suva Harbour
Read MorePermanent Secretary Sanjeeva Perera says 121 applications have already been approved.
The Ministry has been receiving a lot of positive response since the announcement of the Programe in the 2020/21 national budget.
Read MoreFijians living in informal settlements who will soon be receiving their 99-year leases will not be allowed to profiteer from the subsidized lots.
Housing Minister Premila Kumar reveals there have been several cases where people who were given subsidized lots have either sold the property, the land is still vacant and in some cases rented out.
Read MoreLocal Government Minister Premila Kumar says the Suva City Council is on the hunt for investors to develop a commercial centre at the old market site in Raiwaqa.
Mrs Kumar said this would be done through a public private partnership (PPP).
Read MoreThe Ministry of Economy is now in talks with the Fiji National Provident Fund to provide home loan re-payment relief for FNFP members.
Read MoreDiscussions about the development of low-cost housing have been held between the Minister for Housing and Local government Premila Kumar and China’s Ambassador to Fiji Qian Bo.
At that meeting, Bo was joined with a representative of construction company – China Railway 1.
Read MoreThe Singapore Cooperation Enterprise’s work on the Master Plan for the Greater Suva area and Nadi-Lautoka will be completed in mid-2021.
Minister for Local Government Premila Kumar says it will add significantly to the strategic planning that is needed to successfully plan for future generations.
Read MoreThere is a need for increased flexibility to accommodate high-density developments.
Local Government Minister Premila Kumar highlighted this during the World Town Planning Day to recognize and promote the role of town planning.
Read MoreMinister for Housing, Premila Kumar says people staying in informal settlements cannot be landlords as they themselves are staying illegally on that land.
Read MoreThe Human Rights and Anti-Discrimination Commission is pleading with residential landlords to refrain from arbitrarily evicting tenants.
Read MoreRewarding your employees is the key. The message from the Minister for Education, Heritage and Arts, Rosy Akbar, was announced during the One Agency Bayshore Fiji Pty Ltd awards night at Tanoa International Hotel, Nadi, past Friday.
Read MoreBanks are being more stringent with their loans according to the Reserve Bank of Fiji Board following its meeting earlier today.
RBF governor Ariff Ali says credit conditions have tightened given the current elevated risk levels and depressed economic environment.
Read MoreMore than three hundred people have come to Fiji under the Blue Lane initiative in the last few months, opening up some job opportunities.
Read MoreThe Reserve Bank of Fiji in partnership with the Fiji Bureau of Statistics, the United Nations Capital Development Fund managed by the Pacific Financial Inclusion Programme and the Alliance for Financial Inclusion has commenced a second national Financial Services Demand Side Survey.
Read MorePublic Rental Flats are not permanent homes.
Local Government Minister Premila Kumar stressed this while visiting the Vunimoli PRB flats in Labasa.
Read MoreThe Lyndhurst Group of Companies is working on developing a business park at the Kalabu Tax-Free Zone.
Read MorePandey Investments Fiji PTE Limited is now the major shareholder for the owning entity of the Sheraton Resort and Spa on Tokoriki Island, in the Mamanucas.
Pandey Investments Fiji PTE Limited, a subsidiary of New Zealand based CP Group, has completed settlement to become the major shareholder after negotiations with the former majority shareholder the Meghji Group of companies.
Read MoreThe Fiji Revenue and Customs Services will be launching four new services on the 3rd of next month.
Read MoreAs the country continues to face the economic effects of the COVID-19 pandemic, the Housing Authority will extend its assistance package to affected customers up to 31st December 2020.
Read MoreFiji’s economy has been resilient in the face of adversities over the past 50-years.
Reserve Bank of Fiji Governor Arif Ali, while launching the commemorative notes and coins for our 50th Independence anniversary says Fiji has been able to stand on its own because of the spirit of unity.
Read MoreThere has been an increase in unethical practices by licensed real estate agents not conforming to the professional code of conduct.
Read MorePeople living in rural and maritime areas can now get an engineer certified plan for a 2 bedroom house from the Ministry of Housing at no cost to them.
Read MoreWith climate change expected to increase the intensity of Tropical Cyclones, there’s a need to build houses that can withstand such natural disasters.
Read MoreValuers Registration Board is calling on the valuers to be aware of the market trend that is being developed because of the COVID-19 pandemic.
Read MoreExcess liquidity in the banking system reached a historical high of $1.1 billion last month says the Reserve Bank of Fiji.
Read MoreANz has noted a drop in over the counter cash transactions, as customers move to digital payments, said country head Saud Minam.
Read MoreYouth are game changers and influencers with the capability and potential to lead the new normal in this current COVID-19 era.
Read MoreThe construction industry was set to kick off work valued at $54.3 million for the second quarter of 2020, the Fiji Bureau of Statistics said in its September Report.
The value of construction was however lower than the first quarter of the year, the bureau said.
Read MoreThe Ministry for Local Government has identified local and international companies in Levuka that have defaulted on their rates.
Read MoreThe Ministry for Local Government has identified local and international companies in Levuka that have defaulted on their rates
Read MoreConstruction Industry Council President Gordon Jenkins says now is the best time to construct because prices of material and labour costs are down and people should take advantage of this and get their projects completed.
Read MoreInvestment Fiji has pledged to ensure its staff are equipped with one-standard commercial and technical knowledge.
Read MoreHousing Authority of Fiji CEO Robert Sen agrees that a lot of time was previously taken for lot allotment but some policies have changed and clear communication is being initiated with the customers in regards to their complaints.
Read MoreThere was a decrease of over ninety percent or more than eight hundred and twenty million dollars in the total export of services in June when compared to a year earlier.
Read MoreThe Fiji National Provident Fund will continue to process the sixty-six applications approved for the 2019 First Home Buyers Programme.
The fund had earlier announced that the scheme had ceased and will not be available anymore.
Read MoreThe Fiji National Provident Fund says there are five pre-retirement grounds that are still open despite the rollout of the COVID-19 Withdrawal scheme.
Read MoreReserve Bank Governor Ariff Ali has stressed that non-performing loans are the most significant source of credit risk to a bank.
Read MoreThe union representing bank sector workers has weighed in on discussions around lending rates.
Read MoreWith the COVID-19 impact being felt by all the sectors in the country, the Real Estate industry has seen the emergence of a new market.
Read MoreMore Fijians want to own flats in urban areas which has increased the pressure on the Housing Authority to provide affordable homes.
Read MoreThe Housing Authority Board has appointed members of its Public Inquiry Committee.
Read MoreAttorney-General Aiyaz Sayed-Khaiyum encouraged those present at the post-budget discussion; “Fiji’s Economic Recovery Plan” to ‘think outside the box’.
Encouraging Fijians to not wait for too long before owning a home, the Minister for Economy, while speaking at the discussion organised by the Fiji Chamber of Commerce and Industry on 25 July 2020, made this remark about home-ownership which in Fiji is extremely low.
Read MoreThe real estate market is clueless as to where it’s heading as the COVID-19 pandemic continues to take a toll.
Real Estate Licensing Board chair Abdul Hassan says with potential buyers economically affected, people are now not able to invest in property, directly affecting agents and the industry.
Read MoreThe Housing Authority of Fiji has confirmed that there is a criteria for the special purpose audit on lot allocation for the past 10 years that will be carried out by the Office of the Auditor-General in Fiji.
Some of the criteria that the audit will focus include review of any lots allotted to current or ex Housing Authority staff, their families during the period and to review such transactions to assess the transparency and appropriate declaration of conflicting interests by relevant staff including the board.
Read MoreFiji Commerce and Employers Federation President, Sandeep Chauhan says the country should continue to focus on growing sectors like Agriculture even after tourism picks up and also focus on new sectors like call centres, Business Process Outsourcing, repacking of goods for exports and increasing food processing activities.
Read MoreIt has been revealed that some landlords are going to great lengths to evict their tenants following minor disputes.
The Fijian Competition and Consumer Commission has recorded an increase in conflicts between landlords and tenants during the pandemic.
Read MoreThe Permanent Secretary for Economy Makereta Konrote says the 2020/2021 National Budget will be focused on creating more economic activity.
Konrote says one of the important aspects of a budget is to create an enabling environment for the private sector to be able to lead economic recovery after COVID-19.
Read MoreThe Housing Authority has received 334 applications for COVID-19 assistance. 220 applications are from the Central and 114 from the Western Division.
Read MoreThe Reserve Bank of Fiji states that overall labour market conditions have worsened due to the weakening domestic economy.
The RBF says a total of 85,959 FNPF members received around $54.2 million under the COVID-19 withdrawal scheme in phase one, while 15,920 members will be paid around $17.5 million in phase two over a period of 10 weeks.
Read MorePublic Rental Board Acting General Manager, Patrick Veu confirms that no one has been evicted from any of their flats during the COVID-19 period, however people who were earning more than $16,500 and have lost their jobs or are on reduced hours have been reconsidered to stay in their flats.
Read MoreLorraine Seeto, Senikavika Jiuta, Roveen Permal, Anabel Ali and Mohit Raj have been appointed as the new board members of the Public Rental Board and Housing Authority.
Read MoreHousing Minister Premila Kumar highlighted this while visiting the Natokowaqa PRB flats in Lautoka earlier this week.
Kumar says they have found out that these tenants’ income threshold is higher and they do not qualify to stay in these flats.
Read MoreThe Revitalization of Informal Settlements and the Environment programme hopes to expand its current operations across the country.
Coordinator Isoa Vakarewa says the programme begins its operations in identifying the need for proper sanitation, waste management and hygiene at informal settlements last year.
Read MoreThe Housing Authority of Fiji is now under the spotlight after eight of its employees were sacked for allegations of corrupt practices earlier this year.
The eight employees had allegedly set up a company, bearing the same address as the Housing Authority, and were making money to develop plans and land on behalf of its clients.
Read MoreFijians who acquired Housing Authority lots through dishonest means will now face legal action.
Read MoreThe Minister for Housing welcomed the newly appointed board members of the Public Rental Board and Housing Authority of Fiji.
Read MoreThe occupation of rental spaces in the country is taking a dip due to the impact of the Coronavirus pandemic.
The Real Estate Agents Licensing Board has been monitoring the market whereby lots of rental properties are now vacant due to the tight budget of Fijians.
Read MoreChief executive Krishika Narayan says while the overall statistics indicate the market is low, if an investor has extra savings and is thinking of buying shares, this is the right time.
Read MoreHomebuyers are being warned to be cautious about the sale of homes located at sqatter settlements.
Read MoreLarge and small businesses are facing their toughest financial crisis with no apparent end in sight.
Read MoreMinister for Economy, Aiyaz Sayed-Khaiyum says all efforts should be focused on building confidence domestically to encourage more construction activity that can result in the creation of jobs.
Read MoreIllegal developments are rife in Fiji, however, the penalties are low and do not effectively deter people, says Minister for Local Government, Housing and Community Development Permila Kumar.
Read MoreMore than five hundred local businesses have indicated they may face bankruptcy if the COVID-19 pandemic continues for another six months.
Read MoreMore than 1600 households are occupying Public Rental Board (PRB) flats and 832 households are being assisted by the Housing Assistance Relief Trust (HART), Premila Kumar said.
Read MoreSixty-six businesses have closed down due the impacts of the COVID-19 crisis.
Minister for Local Government Premila Kumar says the survey conducted by municipalities highlights the virus has had an adverse effect on Fijian businesses who suffered the consequences of the economic fallout.
Read MoreAs the tourism and hotel business transitions into the next phase of survival, operators involved in the tourism industry will be considering extended Leave Without Pay options, terminations and redundancies in the coming weeks.
Read MoreThe Fijian Competition and Consumer Commission has assisted 252 tenants who have been impacted due to the COVID-19 crisis.
Read MoreANZ Fiji Country Head Saud Minam says they are not in the business of repossessing their customers’ properties and will continue to work with their customers till the last resort and this could be through three months, six months or nine months principal and interest deferment.
Read MoreResidents in Housing Assistance Relief Trust (HART) villages say a recent statement issued by Government of a rent freeze since March and that rent has been reduced by about 50 per cent is “not true”.
Read MoreEconomy Minister Aiyaz Sayed-Khaiyum says against the backdrop of the COVID-19 pandemic, this year’s budget purse strings will be tight.
Read MoreThe Reserve Bank of Fiji has stated that the national economy is now expected to decline more sharply than the earlier estimate of -4.3% on account of the catastrophic impact of COVID-19.
Read MoreThe real estate agents have seen a tremendous increase in the listing of the rental properties.
Read MoreThe real estate sector has not been spared by the impacts of the Corona-virus that has affected almost every other sector of the economy.
Read MoreHousing Authority confirms that real estate agents will be marketing, and selling 27 high-end residential, civic and commercial lots, on behalf of the Authority.
Read MoreThe Reserve Bank of Fiji says foreign reserves are sufficient to retain imports for the next six months. In its April economic review, RBF said foreign reserves were $2.2 billion and enough to sustain imports for the next 6.9 months.
Read MoreThe Reserve Bank of Fiji says foreign reserves are sufficient to retain imports for the next six months. In its April economic review, RBF said foreign reserves were $2.2 billion and enough to sustain imports for the next 6.9 months.
Read MoreEviction of tenants is only legal if proper notice is provided by the High Court, said the Fijian Competition and Consumer Commission (FCCC) chief executive officer Joel Abraham.
Read MoreAmidst the COVID-19 crisis there is some hope for people with bank loans.
Read MoreFrank Bainimarama made the remark at the Fifth Urban Forum at the Tanoa International Hotel in Nadi yesterday .
Read MoreResidents of Veivauceva Settlement in Tacirua are now a step closer to gaining titles for the land they currently occupy.
Read MoreThe 2019/2020 National Budget has been announced with many initiatives focusing on protecting our environment, expansion of ECAL or the Environmental and Climate Adaptation Levy on goods including vehicles, increased duty on new and used hybrid and non-hybrid vehicles, targeted assistance for people, reduced government expenditure and a target of economic growth for straight 11 years.
Read MoreEveryone is eagerly awaiting the 2019 National Budget which will be announced tonight at 7.30pm.
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Commercial and Private Property Listings here in Fiji Islands.