RB Patel invests $25m in Suva apartment development

RB Patel Group Limited is investing $25 million in a seven-storey apartment complex in Suva, with construction expected to create employment and business opportunities over the next 15 months.

The development, located at 25 Knolly Street, will feature 21 two- and three-bedroom apartments and two levels of car parking.

Speaking at the groundbreaking ceremony for the RB Patel Knolly Street Apartments this morning, Minister for iTaukei Affairs, Culture, Heritage and Arts Ifereimi Vasu said the project would create opportunities for contractors, tradespeople, suppliers and service providers during construction.

“During construction, the project is expected to generate opportunities for contractors, tradespeople, suppliers and service providers,” Mr Vasu said.

He said further employment and business opportunities were expected once the development became operational.

Mr Vasu said the investment reflected RB Patel’s continued expansion into property development alongside its established retail, wholesale and distribution businesses.

“The value and returns generated through this development will remain in Fiji, supporting further investment, creating opportunities and contributing to the development of our communities,” he said.

The project will be built by Global Construct VT Limited, a Chinese company undertaking its first project in Fiji.

RB Patel Group chairman Jitoko Tikolevu said the development was part of the company’s strategy to strengthen its retail and commercial property operations.

The company is also developing a $20 million commercial complex on a 10-acre site in Wailevu, Macuata. The project is expected to be completed in June next year.

As of June 30, 2026, RB Patel’s property portfolio was valued at more than $80 million. It includes the Checkpoint Complex in Martintar, Nadi, and Harbor Point Complex in Lami.

Fijian Holdings Limited (FHL) Group chief executive officer Jaoji Koroi said the investment aligned with the group’s long-term growth strategy and its objective of increasing iTaukei participation in the commercial sector.

He said FHL had invested $436 million across various sectors over the past four years and recorded a consolidated group profit of $67 million for the financial year ending June 2026.

RB Patel operates 12 supermarkets across Fiji and became a subsidiary of FHL after the latter acquired a majority stake in the company in 2007.

More than 90 per cent of RB Patel’s shareholder base comprises institutional investors, including the iTaukei Trust Fund, BSP Life and the Fiji National Provident Fund.

The Knolly Street development adds to RB Patel’s growing property portfolio as the company diversifies its operations. The project is expected to support local businesses, create employment opportunities and contribute to economic activity in Fiji.