BRED 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.