The Fiji National Provident Fund (FNPF) is actively working to enhance the potential of its valuable land in Vatuwaqa, Suva, as the country welcomes new major global internet connections. According to Naibuka Saune, the chief investment officer of FNPF, the Fund is undertaking a comprehensive master planning approach to fully utilize this area.
Located adjacent to the Vatuwaqa golf course and near facilities operated by its subsidiary, Fiji International Telecommunications Pte Limited (FINTEL), this land has taken on greater significance with the introduction of the Google submarine cable and improvements in satellite connectivity services from OneWeb and Starlink.
Mr. Saune emphasized that FNPF, already engaged in technology and telecommunications, intends for its real estate assets to play a crucial role in fostering Fiji’s rapidly growing digital economy. “These are all positioned on FNPF-owned land. With this infrastructure now in place, we see strong potential to develop facilities that can leverage the connectivity available,” he stated.
The potential for growth extends beyond Viti Levu, with Saune noting the presence of fibre connectivity in Vanua Levu, sparking FNPF’s interest in exploring initiatives in the Northern Division. “This creates another opportunity for Vanua Levu, and we will look at how we can bring some of these developments there,” he said.
This initiative is part of FNPF’s overarching strategy to invest in infrastructure that can generate sustainable returns while promoting national economic growth. The Fund’s acquisition of the Vatuwaqa land for approximately $6.3 million from ATH Technology Park Ltd, a subsidiary of Amalgamated Telecom Holdings Limited (ATH), represents a significant investment for Fiji’s superannuation fund.
Through these initiatives, FNPF is positioning itself as a key player in advancing Fiji’s technology landscape and contributing to economic development, offering a promising future for the region.