THE Unit Trust of Fiji Group’s (UTOF) newly-established subsidiary UTOF Properties Pte Limited expects to cross the $500million mark in investments by 2028.
UTOF Properties Pte Limited’s first chairman Isikeli Tikoduadua said commercial property development was their emerging market, and the formation of the new subsidiary was the start, with the $150m commercial building project investment.
“We are witnessing Fiji’s commercial property sector entering a transformative era, driven by economic diversification, urbanisation and a renewed national focus on infrastructure development,” Mr Tikoduadua said in his maiden address as chairman.
“As the gateway to the Pacific, Fiji is uniquely positioned to become a regional hub for commerce, finance and tourism.
“This presents a compelling opportunity for strategic investment in high-quality, future-ready commercial infrastructure.”
Mr Tikoduadua said UTOF Properties Pte Limited was poised to play an important role in this transformation.
He said their vision was to redefine developments that are not only financially sound but also architecturally iconic, environmentally sustainable and socially inclusive.
Mr Tikoduadua made the comments at the launch of UTOF’s $150 million three commercial building project held at the GPH in Suva on Thursday night.
The first project, located at Suva’s McGregor Road, is a joint venture with Fortech Group.
The site is for a $100m 10-storey state-of-the-art commercial and environmentally friendly building complex.
The second project, located on Ratu Iloilovatu Street, Laucala, will be high-end apartment complex, providing premium residential apartments featuring one and three-bedroom configurations, with a total investment of $20m.
“The development will incorporate contemporary architectural elements, high-quality finishes, 24-hour security, secure parking, swimming pool, gym, landscaped communal areas and smart home features,” Mr Tikoduadua said.
The third project in Namaka, Nadi will see to the construction of a six-storey commercial building complex at a cost of $20m, and targeted at catering to the diverse needs of businesses and consumers in Nadi.
All projects – that will feature modern architectural design, energy-efficient systems, amenities and flexible floor plans to support a wide range of commercial tenants – will be constructed simultaneously and expected to be ready within two years.
