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Construction Boom in the Capital City

Construction Boom in the Capital City
The WG Friendship Plaza is taking shape on MacGregor Road. It is spearheaded by WG International Real Estate Co. (Fiji) Limited , a locally-registered Chinese company , that had initially proposed to invest $115 million on the plaza.
January 13
11:00 2018

Construction in the commercial sector hit the $81 million mark in 2011.

This is according to the Building Statistics released by the Fiji Bureau of Statistics for the September Quarter of 2017.

There were 74 completion certificates issued for these projects on 2011.

However, the number of permits granted were 140 for an estimated value of $96.16 million.

The trend took a deep in 2012 and 2014 but recorded a gradually rise in 2016.

In 2014, the value of property was $76.98 million.

The corresponding permits granted for commercial buildings rose steadily from 140 in 2011 to 173 in 2016.

But since 2014, the value of completed commercial properties had taken a nose dive from $62.79m in 2015 to $44.25 in 2016.

It is understood that the figures released by the bureau reflects the construction industry nation wide.

But a quick tour of the city of Suva and its outskirts will show that there is definitely a boom in the commercial construction sector.

 

Private dwellings

The scenery for private dwellings was slightly different from the year 2009.

There has been a steady increase in the number of permits issued for the construction of homes.

There was also a corresponding trend in the number of certificates issued upon completion of these homes.

The report shows that the value of homes issued with completion certificates had risen from $12.22m in 2010 to $26.20m in 2016.

The estimated amount attached to these projects in the planning process was worth $142.11m, representing 173 permits issued for the construction of new homes.

For the same period, 173 permits were issued but only 158 projects were completed.

 

Feedback:  monica.aguilar@fijisun.com.fj

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