Lack of data identified as challenge in Real Estate evaluation

February 4, 2024 6:46 am

[File Photo]

The ongoing review of the Real Estate Act has been emphasized by Trade Minister Manoa Kamikamica.

He stressed this during the launch of the 5th National Real Estate Conference in Pacific Harbor where he also urged stakeholders to actively contribute ideas to foster growth in the industry.

Kamikamica identified the lack of accurate data in the country, particularly in the real estate sector, as a major challenge hindering evaluation.

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He proposed collaboration with regional partnerships to incorporate best practices into the real estate sector.

“In all seriousness, it is a big issue for Fiji, if we have to accelerate our economy then we have to do business faster that’s very simple.

Registrar of the Real Estate Licensing Board Peni Komainavoka

Registrar of the Real Estate Licensing Board Peni Komainavoka highlighted the significance of providing stakeholders with an equal opportunity to expand and exchange insights within the industry.

“You know the real estate industry and they do business keeps on changing as in any other type of business so with this event it provides platforms for agents to come together to network, share ideas and share their experiences and also they can get where we have speakers organized from government institutions that they deal with from the private sector that speak on key topics that is relevant to the industry.”

Trade Minister Manoa Kamikamica

Kamikamica has also urged the sector to prioritize transparency and accountability to enhance the business environment and expressed optimism that over time, automated business processes would contribute to improved efficiency.