SUNBIZ

Building Approvals Valued Over $695m

The Ministry of Commerce, Trade, Tourism and Transport will continue to drive reforms that spur investments. Through these reforms, the MCTTT envisages more growth in the construction sector as investment increases in Fiji.
16 Sep 2022 12:00
Building Approvals Valued Over $695m
1,321 building applications were processed this finacial year. Photo: Ministry of Commerce, Trade, Tourism and Transport.

The Department of Town and Country Planning processed 1,321 building applications across its three Divisional Offices – Central, Western and Northern in the 2021-2022 financial year.

This is an increase of 203 building applications from the 2020-2021 financial year and is attributed by the growth in the construction sector post-pandemic.

Of the 1,321 building applications, 73 were categorized as major building applications, with a total value over $1 million.

These developments contribute an investment of more than $695 million to the Fijian economy.

 

Survey Plans

The Department processed 698 survey plans in the last financial year, an increase of 72 percent from the previous year.

Survey plans are the final document in the subdivision process before a title or lease is obtained.

Therefore, the results indicate that over the last financial year, more Fijians were able to complete their subdivision process and obtain proper title documents over their properties.

 

Rezoning Applications:

Four hundred and forty (440) rezoning applications were further processed, where 38.86 percent were commercial rezoning applications.

The trend for commercial development saw an increase from the previous year of 30 percent, indicating the increased demand for commercial ventures in Fiji.

The Ministry of Commerce, Trade, Tourism and Transport will continue to drive reforms that spur investments.

 

Such reforms are already underway with amendments to the ‘Notification and Presentation of Schemes’ for rezoning approvals within town boundaries, and the block rezoning initiative.

Through these reforms, the MCTTT envisages more growth in the construction sector as investment increases in Fiji.

 

Feedback: selita.bolanavanua@fijisun.com.fj



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