Fijian Holdings Limited (FHL), in partnership with Nawaibuta Properties Pte Limited (NPPL), today held a groundbreaking ceremony to officially mark the commencement of a new commercial development in Korovou, Tailevu.
This significant development follows the formal signing of construction agreements on 19 June 2025 between NPPL; Design Hut as the Project Managers; and Cope Construction Pte Limited as the construction contractors.
NPPL was established by the Yavusa Nawaibuta (representing the villages of Nailega, Navunisole, and Matacula and their nine mataqali) through its commercial arm; Nawaibuta Holdings Pte Limited (NHL). With strategic investment and support from FHL, NPPL will lead the delivery of this commercial development. NHL currently owns and manages Nawaibuta House, a commercial investment property located in the heart of Korovou Town.
"This groundbreaking ceremony is more than just laying a foundation; it's about building a future where iTaukei landowners and future generations are direct beneficiaries and drivers of economic progress by developing their own resources. Our partnership reflects FHL's continued commitment to accelerating iTaukei participation in the commercial sector while ensuring sustainable returns for our shareholders." stated Mr. Jaoji Koroi, Group CEO of FHL.
The Korovou development is one of several projects under FHL's impact investment portfolio, with up to FJ$50m approved for joint ventures with iTaukei resource owners. Landowners contribute land as equity, while FHL provides the necessary investment and commercial expertise, establishing a mutually beneficial relationship aimed at long-term economic returns and community benefits.
The project is also supported by FHL major institutional shareholders who continue to play critical roles in facilitating and supporting these groundbreaking initiatives.