The Unit Trust of Fiji Group (UTOF) has announced an ambitious plan to invest over $500 million by 2028 through its newly formed subsidiary, UTOF Properties Pte Limited. Isikeli Tikoduadua, the first chairman of the subsidiary, highlighted the potential of Fiji’s commercial property sector, which is undergoing significant changes driven by economic diversification and urban development.
During the launch of a $150 million investment in three commercial building projects at the Grand Pacific Hotel in Suva, Tikoduadua emphasized Fiji’s strategic position as a gateway to the Pacific, making it an attractive region for high-quality investments in future-ready commercial infrastructure. He articulated a vision for the new developments to be not only financially viable but also architecturally iconic, environmentally sustainable, and socially inclusive.
The projects include a $100 million state-of-the-art commercial building complex on McGregor Road, a $20 million high-end apartment complex on Ratu Iloilovatu Street, and a $20 million six-storey commercial building in Namaka, Nadi. The McGregor Road project, developed in partnership with Fortech Group, aims to provide modern facilities equipped with energy-efficient systems and various amenities catering to a diverse range of businesses and consumers.
Each of the developments is set to be constructed simultaneously, with completion expected within two years. Tikoduadua reiterated that UTOF Properties would play a crucial role in transforming Fiji’s commercial landscape. He reflected optimism regarding the broader implications of these projects, stating that they not only promise to generate jobs and spur economic activity but also enhance investor confidence in the real estate market.
This engagement aligns with UTOF’s previous achievement of surpassing its target of managing $521 million in funds, bolstered by its strategic investments, which include acquiring a stake in Kontiki Finance Ltd. Such initiatives highlight UTOF’s commitment to fostering both economic growth and community development in Fiji.
Overall, UTOF’s expansion into property development appears poised to invigorate the local economy and position Fiji as a burgeoning hub for commercial and residential investment opportunities. As the country continues to focus on infrastructure development, these projects reflect a promising path toward modernization and economic prosperity in the region.