Fiji Real Estate News

Crown Towers for Sale

Crown Towers in Martintar, Nadi has been put on the market, with an asking price of $6.8 million.

Realtor Sakeo Lelekilagi of Golden Water Real Estate said the property was not only a valuable asset with attractive rental returns but also held excellent location in one of the tourist town’s busiest and most central spots.

“There are 21 rooms altogether- with seven …

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Consultation Workshop for Agents

Real estate agents, salespersons and branch managers in the Western division undertook a national consultation workshop in Nadi this week for input on a final draft of proposed changes to real estate agent’s regulations.
Realtors had earlier received copies of the document from the Real Estate Agents Licensing Board, which hopes to soon finalize the regulations ahead of their enactment.

The regulations …

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Growth for Fijian Holdings

Fijian Holdings Limited’s group assets have grown by 6.67 per cent to $525.06 million, whereas group liabilities have grown by 5.35 per cent to $274.69 million.
According to its 2017 Annual Report, which was released this week, the growths have been largely attributed to the acquisition of property, plant and equipment within the group.

“In terms of revenue, RB Patel Group …

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Dolphin Island Reopens

Dolphin Island has been fully rebuilt, over a year and a half after finding itself in the path of Tropical Cyclone Winston, which also battered surrounding properties and left thousands homeless in the scenic Rakiraki region in February 2016.
Located off the coast of the mainland, between the Nananu – i- Cake and Nananu-i-Ra islands, the exclusive island will mark the final …

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Allotment Process Underway

An allotment process of Schedule A and Schedule B lands by the I Taukei Land Trust Board’s (TLTB) Reserves Department is due to be completed by next year.
According to the TLTB, which administers all indigenous-owned land in the country, the allotment work is to determine the rightful owners or claimants of land and returning it to them.

Schedule A lands are …

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New Home Loan Package

A new home loan package has been launched by Fiji’s only locally owned bank, Home Finance Limited, for single or joint applicants with a total annual income of up to $50,000.
The Special Housing Facility is expected to bring first-time home buyers closer to owning their own property, and has been designed under the Reserve Bank of Fiji’s housing package, of …

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No Dirty Dealings

Real estate companies should handle clients with professionalism, says Vyas Deo Sharma.
The Fiji Real Estate Association president made this statement during its meeting at Paradise Realtors (Fiji) Limited in Nadi.

The meeting also heard that certain real estate agents weren’t abiding by rules of the association. Mr Sharma said that the association wouldn’t entertain real estate agents that are involved in …

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Leases Handed Out

The Ministry of Lands recently wrapped up public consultations in the Western division regarding State lessees, and handed out agricultural leases in parts of the division.
Lands Minister, Faiyaz Koya said many understood that the security of land ownership bought possibilities of endless personal prosperity and chances to accumulate wealth.

“So, through receiving your leases, I trust and hope that you are on …

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Construction Arm for HA

A new construction arm was launched this week by the Housing Authority of Fiji.
“In its program to deliver housing for the people of Fiji, HA is embarking on an initiative to facilitate development and construction works, in consultation with contractors and heavy machinery provides on its own by doing design and building concepts.”

According to HA, this would facilitate cheaper development …

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Senibua Place Launched

The first local subdivision by indigenous landowners was officially launched in Natogadravu, in the province of Tailevu yesterday.
Senibua Place offers 51 residential lots, a commercial supermarket lot and recreational parkland, and is a self-managed project of Tui Nabou Development and Construction Limited. Measuring 805m2 -1.336m2, the lots are priced from $40,000 to $75,000, with piped water, electricity supply, a completed survey and …

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New Lots by Housing Authority

The Housing of Authority of Fiji has called for Expressions of Interest for the purchase of residential lots at upcoming, housing subdivisions in Tavua, Labasa, the Nadi to Lautoka corridor and along the Suva to Nausori corridor.
According to new CEO, Dr Punit Sethi, preparatory work has already begun through advertisements calling for EOIs for the construction of high-rise strata …

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Bali House Listed

Bali houses have long been a favoured architectural style for tropical settings and at Taveuni Estates, the owners of a rare Balinese home in the area have listed the ocean view property for a generous USD $200,000.

“This Balinese-style residence has two baths and was designed to complement its natural surroundings,” said realtor Stephen Noble, of Noble Realty. Perched on a …

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Likely Price Hike for City

With Nadi due to be declared a city by the end of 2017, a hike in property prices can be expected for land and buildings located in the town’s current outskirts and other areas expected to come under the new municipal expansion.
According to Pacific Valuations Limited managing director, Vinod Lal Bala, the upgrade to city status gives proprietors new …

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Personal Property Securities Bill

Public consultations have been held on the new Personal Property Securities Bill 2017, which aims to increase credit improvement by mortgaging personal, moveable property, and ultimately expanding the collateralization of fixed assets such as land and buildings.
This is particularly directed at micro-small and medium enterprises (MSME) through the establishment of an online registry, a concept backed by the Reserve Bank of Fiji.

In …

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Tallest Building Underway

A 28-storey luxury hotel and convention centre that is due to be the tallest in the South Pacific is rising along Suva’s Grantham Rd by WG International Real Estate Company Fiji Limited.
The Chinese company has pumped about $115 million into its WG Friendship Plaza, with an inventory of over 300 rooms, a conference facility, observatory towner, boutique shopping arcade and healthcare …

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