Here ‘Forever’
Grace Road Group’s investments in new projects across the county has been hit by slow approval rates from various agencies.
In the last decade, Grace Road has developed a portfolio of 13 properties, including 11 Grace Field Complexes, where it employs around 900 staff members, reflecting its presence and contribution to the local employment landscape.
Group retail operations manager Grace Sungdo said investments valued at $70 million in 2022 were established as new projects, but the number dwindled to $30m in 2023.
This year, the group expect to invest more than $50m pending State approvals.
Ms Sungdo said all pending projects in the last year were delayed.
“Huge projects are awaiting approval and are very slow in approval,” she said.
“We submitted projects last year. “We are asking the government for co-operation to allow us to continue to carry out more projects.” Ms Sungdo said the group’s investment included housing projects and warehouses.
“Our president Daniel Kim is in remand, but even still, he does not stop thinking, planning, and developing the commercial operations of the business.
“This is how we show we love Fiji. “We love Fiji, and life goes on.” Grace Fields complex in rural communities was an effort to supply quality goods to rural dwellers, Ms Sungdo said.
She asserts that any other Korean investor would have taken their money and fled the country.
“We are different; we came here to live forever,” Ms Grace said.
“We believe God blesses this land. “Fiji is the true Zion promised by God.
“We believe in Jehovah God and believe in God’s words spoken by spiritual truths.
“Fiji will be the centre of the world.”
Grace Field Complex projects include Rakiraki, Ba, Votualevu (Nadi), and Vanua Levu.
Ms Sungdo said the group surpassed its own expectations, and promised more projects in store.
Nadi projects
A huge commercial complex development was awaiting approval from last year.
Last December, the group completed Grace Field Complex at Denarau Bypass, to the tune of $15m. It included a Mobil service station, Truemart, Café Grace, Grace Beauty Salon, and Grace Garden Restaurant.
It also houses business processing outsource office CentreCom Business Centre.
The opening of the Japanese Tepanyaki restaurant is scheduled for May, while the BSP Bank Centre branch at Denarau is set to open in June.
Recent development
Grace Fields Complex, which cost $8 million, opened last week on Nadi back road. The complex includes Truemart, Grace Garden restaurant, and a dentistry.
The two projects employ over 100 staff with numbers expected to increase.