Growth in Real Estate lending

February 5, 2024 6:35 am

[ File Photo]

Celebrating the role played by the real estate sector in Fiji’s economy, the Minister for Trade, Cooperatives and SMEs championed ongoing education and training for enhanced outcomes in the industry.

This resonated strongly during the 5th National Real Estate Conference held in Pacific Harbor.

Minister Manoa Kamikamica revealed insights from the Reserve Bank of Fiji’s commodity report where a substantial surge in commercial bank lending to real estate, escalated from $146 million in the first quarter to $399 million in the third quarter of last year.

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Kamikamica emphasizing the significant contribution of the real estate industry to the Fijian economy, the trade minister underlined its role in driving economic prosperity.

Kamikamica stressed the importance of open dialogue as a catalyst for supporting stakeholders in the real estate industry.

The Registrar of the Real Estate Licensing Board Peni Komainavoka hinted at upcoming educational programs to enhance knowledge and capacity within the field.

Expressing gratitude, the Minister acknowledged the relentless efforts of industry players who have worked tirelessly to fortify the sector in the aftermath of the pandemic.