Josefa Sigavolavola 
The Unit Trust of Fiji is investing $150M into three planned commercial property development project, following the commissioning of their new Unit Trust of Fiji (UTOF) Properties Limited at the Grand Pacific Hotel in Suva last night.
The planned development comprising of residential apartment buildings and commercial office building is anticipated to be based in three locations two of which are foundation in the capital city and one in Namaka Nadi.
According to Prime Minister Sitiveni Rabuka who officiated the launch, states that UTOFs investment in these three would result in job creation, boost in local economy and an enhanced investor confidence in Fiji’s commercial property market.
“These outcomes align squarely without Governments economic recovery framework and our long-term plan to build a modern, competitive and resilient economy. As we launch these three transformative commercial projects and formally commission UTOF Properties Pte Limited let us be reminded of the power of partnership, vision and belief in a better Fiji.”
Chairman of UTOF new subsidiary, UTOF Properties Pte Ltd Isikeli Tikoduadua highlights that yesterday’s launch marked a transformative journey for the investment trust.
“It’s one that will redefine the landscape of property development in Fiji and the Pacific region, our mandate is clear and that is to lead UTOF expansion property portfolio.”
Following yesterday’s launch, the chairman further stated that the three project from UTOFs new property arm is the first phase of a planned intervention from the trust and is forecasted to growth in its scale to $500M by 2028.
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