The Fiji National Provident Fund (FNPF) is taking significant steps to capitalize on its prime land located in Vatuwaqa, Suva, following the recent establishment of major global internet connections in the country. According to Naibuka Saune, the chief investment officer of FNPF, the Fund has embarked on an extensive master planning initiative to maximize the potential of this land area.
Strategically situated next to the Vatuwaqa golf course and in close proximity to facilities operated by its subsidiary, Fiji International Telecommunications Pte Limited (FINTEL), this land has gained heightened importance with the arrival of the Google submarine cable and recent advancements in satellite connectivity services by OneWeb and Starlink.
Mr. Saune indicated that FNPF is already involved in the technology and telecommunications sectors and aims to ensure that its real estate assets contribute to the burgeoning digital economy in Fiji. “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 noted.
The opportunities are not confined to Viti Levu, as Saune mentioned the availability of fibre connectivity in Vanua Levu, prompting the Fund to explore initiatives that could foster similar developments 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 added.
This initiative aligns with FNPF’s broader strategy to invest in infrastructure capable of generating long-term returns while bolstering national economic growth. It has been reported that the Fund acquired the Vatuwaqa land for approximately $6.3 million from ATH Technology Park Ltd, a subsidiary of Amalgamated Telecom Holdings Limited (ATH), marking a significant investment for Fiji’s superannuation fund.
By leveraging these developments, FNPF is positioning itself as a key player in supporting Fiji’s technological advancement and economic development, offering a hopeful outlook for the region’s future.