Construction Is Gearing Up and Sees Improvement, Say Industry and RBF
After a lull of about seven months since the COVID-19 second wave hit Fiji, the construction industry is slowly gearing up into the new normal, says Gordon Jenkins. The president of the Construction Industry Council highlighted several issues that must be considered in the long-term, however was positive that through efficiency and time, the industry can rebuild.
Wednesday 15 December 2021 | 08:45
The entrance of the expanding Yue Lai Hotel in Flagstaff, Suva, on December 10, 2021. Photo: Leon Lord
Reserve Bank of Fiji (RBF) this week indicated that the COVID-19 induced economic recession was beginning to bottom out.
And with that construction, like other sectors, will begin to see improvement in this post-pandemic era.
This was noted by RBF Governor and chair for Macroeconomic Committee Ariff Ali when highlighting the revised projections for the economy until 2024.
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After a lull of about seven months since the COVID-19 second wave hit Fiji, the construction industry is slowly gearing up into the new normal, says Gordon Jenkins.
The president of the Construction Industry Council highlighted several issues that must be considered in the long-term, however was positive that through efficiency and time, the industry can rebuild.
RBF Review
In the RBF November economic review, statistics showed that construction demand was slowly picking up evident with the increase in cement production.
Additionally, it noted an improved labour market condition for October.
“RBF Jobs Advertisement Survey reflecting recruitment intentions noted a monthly growth of 16.6 per cent as firms progressively attempt to return to pre-lockdown normalcy,” the review noted.
“Higher recruitment intentions were mostly noted for the construction; wholesale and retail trade and restaurants and hotels; transport, storage and communication; manufacturing; and electricity and water categories.”
Construction Industry Council president Gordon Jenkins. Photo: Ranoba Baoa
(Fiji) International Mansion
i. In 2014, developers of this proposed luxurious apartment is located on 83 Princes Road in Suva.
ii. At the time, it was set to be called (Fiji) International Mansion
iii. While works have been slow it has been progressing in recent times.
iv. The developer is China’s Great Han International Company Limited
FUTURE PROJECTS
Tech Park, UN Headquarters in Pacific
i. In the 2021-2022 National Budget, the Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum announcement an investment into a new ICT Park in Tamavua and the construction of a United Nations Building to serve as the UN Headquarters in the Pa¬cific.
ii. To this end, calls for local designers and builders to place their bid on the above future Suva developments
iii. The park will include data storage services for businesses with a 20-year tax holiday for investments of more than $10 million.
Feedback: ranobab@fijisun.com.fj
