Minister for Local Government Maciu Nalusima has announced impressive growth in Fiji’s construction sector, with building approvals processed in 2024 amounting to a staggering potential investment of $701.3 million. This figure highlights the robust confidence investors have in the nation’s economy.
In a recent written statement, Mr. Nalusima reported that the Department of Town and Country Planning (DTCP) received a total of 835 building applications last year, with 759 processed and 635 resulting in approvals. He emphasized that these figures represent more than just statistics; they translate into substantial real-world impacts such as job creation, housing, essential services, and overall economic growth.
The breakdown of the approvals indicates strong activity across different regions of Fiji. In the Central Division, 402 applications were submitted with 269 approvals valued at $268.6 million. The Western Division saw 231 applications, with 195 approvals worth $319.6 million. Meanwhile, the Northern Division had 202 applications, resulting in 171 approvals totaling $113.2 million.
Additionally, Mr. Nalusima noted that 83 late applications would be processed in 2025, further indicating ongoing interest in development. He also revealed that municipal councils issued 338 building completion certificates last year, reflecting completed projects valued at $131 million.
These developments are already benefiting local communities, fostering employment, sustaining industries such as tourism and construction, and ultimately boosting local economies. Mr. Nalusima highlighted the increasing interest in commercial, industrial, and tourism-related projects, which are essential for supporting Fiji’s recovery from the pandemic and ensuring long-term development.
This aligns with recent insights from analysts, who have pointed out that Fiji’s economic outlook remains positive, with projections suggesting a possible growth rate of 3.4 percent in the coming years, driven primarily by the private sector. The anticipated growth will enhance job opportunities and increase household spending power, contributing to a robust future for Fiji’s economy.
The signs of recovery and optimism in the construction sector suggest not just a bounce-back from challenging times but also a pathway toward sustainable growth and development for Fiji, which can enhance the standard of living for its residents. As the country continues to navigate its post-pandemic landscape, these strategic investments find themselves at the heart of Fiji’s bright future.