PBS turns to luxury residences
The slowdown in the construction industry for major projects has prompted a major contractor, Pacific Building Solutions, to undertake their own project.
This project involves the transferring of their expertise of building modern multi-million dollar projects into upmarket residential homes.
PBS Public Relations Manager Atelaite Cama said the new projects include: ■Four-three bedroom homes in Tamavua worth $9 million, ■Joi■t venture with Hari Punja and Sons Uduya Point Apartments worth $16 million and which includes 26 assorted apartments ranging from one to three bedrooms,
■The Latter Day saints Dormitory and
■Sma●● works including the refurbishment of all ANZ branches in Fiji.
The first two projects are scheduled to be ready by the end of year. “We have done a number of hotel construction projects and all of a sudden this has come to a halt. “There is virtually a slowdown in the construction of hotels and also other major buildings”
Ms Cama said this could be attribute to a slowdown of economies around the world. “Otherwise we see property developments happening a lot in Fiji and that is why we are also carrying out our own projects.
“We see that as a very high potential for us and so we are bring our expertise in building high rise buildings to high end residential properties.
“We see ourselves moving along in that direction in the coming years.
“So while one has slowed down, we have taken our expertise into another line which is luxury homes and apartments.”
Ms Camas said the homes and apartments were being sold for around $700,000 to $1.4 million each, if one wants to rent, you can get an apartment for around $3000 to $6500 per month.
Ms Cama said the view of Uduya Point Apartments would be one of the most spectacular to come into the market this year.