Indigenous investment company Fijian Holdings Limited (FHL) in partnership with Nawaibuta Properties Pte Limited (NPPL) held a groundbreaking ceremony to mark the commencement of a new commercial development in Korovou, Tailevu.
This development follows the formal signing of construction agreements early this month between NPPL, Design Hut as project managers, and Cope Construction Pte Limited as the construction contractors.
NPPL was established by the yavusa Nawaibuta – representing the villages of Nailega, Navunisole and Matacula and its nine mataqali – through its commercial arm Nawaibuta Holdings Pte Ltd (NHL).
With strategic investment support from FHL, NPPL will lead the delivery of this commercial development.
“This groundbreaking ceremony is more than just laying a foundation, it’s about building a future where iTaukei landowners and future generations are direct beneficiaries and drivers of economic progress by developing their own resources,” FHL chief executive officer Jaoji Koroi said.
“Our partnership reflects FHL’s continued commitment to accelerating iTaukei participation in commercial sector while ensuring sustainable returns for shareholders.”
Nawaibuta Holdings chairman Waisele Tuidama acknowledged the partnership with FHL saying they had faith in the development project.
He said they had made several attempts to seek assistance from the banks but with no success, and FHL made it happen.
NHL owns and manages Nawaibuta House, a commercial investment property located in the heart of Korovou town.
The Korovou development is one of several projects under FHL’s impact investment portfolio, with to $50million approved for joint ventures with iTaukei resource owners.
The project is also supported by FHL major institutional shareholders who continue to play critical roles in facilitating and supporting those groundbreaking initiatives.
Note: This article was first published on the print version of the Fiji Times dated July 1, 2025
