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New $600m Investment Plans By Carpenters Group In Suva

The Carpenters Fiji Group has revealed plans to invest in yet another multi-million-dollar high-rise retail/commercial complex in Suva. It is additional to the announcement of an expansion of its existing
21 Feb 2015 10:21
New $600m Investment Plans By Carpenters Group In Suva
An artist’s impression of the MHCC Tower in Suva with the addition of another 14 storeys to the existing four-storey structure.

The Carpenters Fiji Group has revealed plans to invest in yet another multi-million-dollar high-rise retail/commercial complex in Suva.

It is additional to the announcement of an expansion of its existing pioneering heart-of-Suva MHCC complex.

This new project will be even bigger where the retail giant is looking at investing about $500 million to $600 million.

The proposed land for development is in the foreshore area just behind Kadavu House going towards the back of Holiday Inn Suva.

The plans were revealed by MBF Holdings chairman and Group chief executive, Tan Sri Sir Dr Ninian Mogan Lourdenadin, to the Fiji Sun.

“It would be a sizable investment for Carpenters and it will bring a lot just like we did with MHCC,” Sir Mogan said.

“This will bring another dimension to shopping, entertainment, open spaces and so on in Suva.

“The city is in need of shop space for restaurants and trading to enhance the trading in town. It’s in a way connected to Victoria Parade.”

Sir Mogan said the sort of concept they are looking at is what Sydney has – the waterfront, Rocks etc.

In terms of timeframe, Sir Mogan said since this was a big project, it would take a bit of time to organise the details of the project.

But, he did confirm that received their approvals from the council the past week and acknowledged the co-operation from Government.

With the upcoming project by Carpenters to add another 14 storeys to MHCC and this foreshore development, Sir Mogan said this would keep them occupied for at least two years.

However, without revealing anything, he indicated they have other things planned as well.

Overall view

Sir Mogan, one of the top businessmen in Malaysia, hailed the business environment in Fiji at present.

“It has been very extremely encouraging. All trading has been quite positive,” he said.

“Government’s policies are very proactive and growth is very good. I think there are very good high quality, competent companies and there’s a great future.”

“The advantages in Fiji far outweigh any disadvantages that there are at the current moment. The group is happy. My staff are very positive,” he said.

Feedback:  rachnal@fijisun.com.fj

 



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