Investment Fiji tells: Indicators of confidence

From 2010 to 2017, the registered foreign investment projects in Fiji have increased from 117 to 368.

Regional Relationship manager for Investment Fiji, Lisala Dyer said that indicated that investor confidence had increase within that span of time.

Speaking at the Real Estate 2017 National Consultations Workshop at Tanoa International Hotel in Nadi yesterday, he said that employment also increased within that same period from 2,706 to 4,435.

“Fiji’s property markets are rapidly recovering with big housing developments meeting demand not only locally but also from overseas buyers,” Mr Dyer added.

He said investors were attracted through Fiji’s beautiful natural settings.

“Fiji’s pristine and beautiful environment coupled with a tropical climate entices real estate development investors from around the world,” Mr Dyer said.

The projected tourism arrival, he added indicated there was a requirement of about 200 additional hotels by 2025.

Mr Dyer said the way forward was ensuring formal property rights, effective land administration, formal title and access to financial loans was fundamental.

He added there was also a need for well-educated English speaking work force with a high literacy rate.

In terms of real estate development, Mr Dyer said a foreign investor must have at least $5 million in owner’s contribution in forms of cash to be fully brought into Fiji within the implementation period. Permanent Secretary for Land and Mineral Resources, Malakai Finau said property professionals such as real estate agents, valuers, property developers and estate managers played a pivotal role in developing the housing industry.