Fiji Real Estate News

Agents Respond to Budget

Agents have had mixed reactions to the Fijian Government’s National Budget 2017-2018, which was recently passed in Parliament after its announcement late last month.
Budgetary allocations for the new fiscal year have had key increases for the Department of Housing and Ministry for Lands, as major sub-divisional and land development projects get underway, as well as relaxed duty for certain …

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Conservation Lease for Kilaka

The I Taukei Land Trust Board has signed onto a lease agreement with the Wildlife Conservation Society (WCS) to safeguard and ensure the long-term protection of Kilaka forest in the district of Kubulau, Vanua Levu.
Kubulau comes under the province of Bua and its landowning unit at Kilaka, the mataqali (tribe) Nadicake have agreed to a 99-year lease period.

The mataqali …

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Raine & Horne Launches in Fiji

Australian real estate powerhouse, Raine & Horne has solidified its reach into Fiji by officially launching in Lautoka, marking the beginning of a major regional expansion into the Pacific islands.
The fourth-generation family-owned and operated property group already has offices in Lautoka and Nadi, and plans to soon open in capital city of Suva, and the coastal havens …

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New Initiatives for Lands Ministry

Several new initiatives are being undertaken by the Ministry of Lands and Mineral Resources, whose allocation in the Fijian Government’s new National Budget (2017-2018) has increased from previous fiscal years.
The State’s latest budget has given the ministry a total of $42.3 million, for which $21.0 million is for operating expenditure, $19.0 million for capital expenditure and $2.8 million …

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Bilo Peninsula on the Market

Expressions of interest for Bilo Peninsula in Suva have been publicized by the I Taukei Land Trust Board, administrators of Native land leases and Fiji’s largest provider of land and real estate services. With frontage of Suva Harbour, the peninsula is strategically located across the city’s CBD at Delaibilo and falls under integrated development (mixed use) zoning.
“The Bilo …

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Budget Increase for Housing

The Department of Housing has been allocated  $34.6 million in the National Budget 2017-2018. Of this amount, $1.8 million is for operating expenditure, $32.1 million for capital expenditure and $0.8 million towards Value Added Tax (VAT).
This new budgetary allocation is a considerable rise from the $25.3 million provided in the Fijian Government’s last fiscal year, with several factors accounted …

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New Subdivision in Yadua

The scenic, seaside stretch of Yadua, outside Sigatoka recently welcomed the development of a Government-funded sub-division project on its Native land.
Belonging to the Korokula land-owning unit, there will be 13 residential lots developed, to the tune of nearly $2.5 million.

The start of the development was officially marked with a ground-breaking ceremony by Prime Minister, Voreqe Bainimarama, on June 28, …

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Changes in Fiscal Duty

The Fijian Government will continue to market its properties at the Kalabu Tax Free Zone, which is being sold to interested investors, as sales will complete the process of transferring KTFZ assets in Suva to the private sector.
This was noted as the Ministry for Finance announced the 2017-2018 National Budget on June 29. And effective from 1 August, the Fiji Revenue & …

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New National Budget Announced

The Fijian Government announced its National Budget for the new fiscal year, 2017-2018 on June 29 and key provisions include a new income threshold.

Speaking in Parliament, Attorney General and Finance Minister, Aiyaz Sayed-Khaiyum said the income threshold would be raised from $16,000to $30,000, and that it would remove the burden of taxation immediately, for 14,500 Fijians. The threshold has been …

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Association Elects Office Bearers

Khelvin Realtors founder and CEO, Vyas Deo Sharma has been elected President of the Real Estate Association of Fiji.
The new Vice Presidents are Sakeo Lelekilagi (Golden Water Real Estate), CJ Shergill (LJ Hooker) and Aren Nunnink (Ki-Maren Real Estate), respectively from the Central, Western and Northern divisions.
Anand Gounder (IROK) was voted in as General-Secretary, with the post of Assistant …

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Amnesty Period Ends

The i Taukei Land Trust’s (TLTB) amnesty period for defaulting tenants ends June 30, and it warns that it is taking tenants to court for defaulting their rent payment for several years, which could also result in their eviction from the leased properties.
 “As part of TLTB’s arrears drive, some 2059 …

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Informal Settlements Upgraded

More informal settlements are being upgraded with development works and proper residential leases, the latest being Waidamudamu in Koronivia, Nausori.
The settlement is being provided with residential lots as part of an upgrading program by the Ministry of Local Government and Housing.

“The Waidamudamu Informal Settlement Project will provide a total of 266 residential lots and on completion, 266 eligible tenants …

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Elections for Association

The newly established Real Estate Association will hold elections for official office-bearers at its first annual general meeting on July 2 in Nadi.
Interim committee President, Vyas Deo Sharma of Khelvin Realtors in Lautoka confirmed that positions available were that of president, three vice presidents, general-secretary, assistant general secretary, treasurer and three committee members.

The AGM will be held at Sitar Restaurant in …

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Agricultural Land Marginalized

Land for agricultural purposes is being side-lined to sloping and marginal land due to an increasing demand for arable land from other economic activities.
“When done on such terrain, there is a risk of land degradation, which can be compounded by extreme weather patterns,” stated Assistant Agriculture Minister, Viam Pillay.

His Ministry is working to strengthen sustainable land management practices, particularly as …

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Provincial Trust Acquires New Property

Major plans are in the pipeline for the Bose ni Momo ni Yasana ko Ba Trust, which recently acquired a new property in Samabula, one of Suva’s busiest urban, residential, and commercial wards.
The new purchase straddles the corner of Matuku and Totoya Streets, with a Crown lease covering about 1,950 square metres.

“The property is being transferred from the …

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