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FHL to upgrade properties

July 6, 2018 7:20 pm

The Fijian Holdings Limited will soon start maintenance work at Ratu Sukuna House which is estimated to cost a little over one point two million dollars.

Chief Executive Nouzab Fareed says the Group is taking advantage of the tax incentives announced by the Government in the 2018/2019 National budget which will come into effect in the next financial year.

The incentive is such whereby, any capital investment of one million dollars or more, is exempted from a 125% tax deduction and an additional 25% investment allowance for modernization of buildings in towns and cities.

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The incentives are available for buildings that are five years or older.

Fareed says FHL through its subsidiary owns 3 buildings in Suva out of which two properties need major exterior revamp, to be more attractive and give the city a modernised look.

Fareed also acknowledges the government for this policy as it will assist in modernizing Fiji’s cities.

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