SUNBIZ | WORLD

Vanuatu to Invest in Suva Property

The Vanuatu government is collaborating with the Vanuatu National Provident Fund (VNPF) and a local property owner in Suva to build an apartment complex for regional students studying at the
12 Aug 2014 13:16

The Vanuatu government is collaborating with the Vanuatu National Provident Fund (VNPF) and a local property owner in Suva to build an apartment complex for regional students studying at the University of the South Pacific (USP) in Fiji.

A memorandum of understanding (MOU) was signed between the parties on July 29 paving the way for VNPF to carry out its own due diligence on the scope of the project.

“This project is linked to the purchase of the property at which the current High Commission is located at 17 Mariko Street,” Vanuatu High Commissioner to Fiji, Nikenike Vurobaravu said.

The proposal is for a three-storey, medium to up-market, well secured student apartment complex that could cater for 40 to 60 self-contained units that provides a holistic environment for students and their education needs.

The project aims to provide competitive, affordable, self-contained and well-serviced student accommodation with comprehensive support facilities with an apartment office and common rooms with internet capabilities on all floors and yet, conveniently located next to the main entrance of the USP Laucala Campus in Suva.

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