THE Fiji National Provident Fund (FNPF) is continuing its strategy to focus on acquiring high-quality assets with strong income and potential capital growth.
During the 2025 financial year, the Fund purchased four lots at Pacific Harbour for $25 million, securing prime land for future mixed-use development.
It also expanded its Natadola beachfront cluster with part of the land pre-leased to Google for its submarine cable landing beach manhole, further enhancing the strategic value of the portfolio.
“The year saw strong revaluation gains, with the portfolio’s fair value increasing by 12 per cent to close at $676.7m,” the Fund stated in its 2025 annual report.
“This uplift was primarily driven by rental income growth and new additions to the portfolio.”
The Fund stated leasing performance remained strong, with the portfolio achieving 96 per cent occupancy across 74,461 square metres of gross building floor area.
It said like-for-like rental income grew by 26 per cent, rising from $29.5m to $37.1m as at June this year.
At the end of the financial year, the portfolio comprised 38 properties, including 24 income-producing assets (retail, commercial and office) and 14 vacant land parcels held for future development.
“Active asset management is applied to reduce tenant turnover, while targeted land-banking supports long-term value and keeps the property portfolio resilient and purpose-driven.”
