Image: Fiji One News
Fijian Holdings Limited (FHL), through its wholly owned subsidiary, FHL Media Pte Limited (FHLM), in partnership with the Raibevu Family Trust, today held a groundbreaking ceremony to officially mark the commencement of the Raibevu Complex at the junction of Khalsa Road and Princes Road, by the joint venture company, Cbayview Enterprise Pte Limited.
The FJ$17 million development will comprise a two-storey commercial complex with office and retail spaces, 88 car parking spaces, car wash, taxi base and a dedicated sheltered outdoor market area.
CBayview Enterprise Pte Limited is jointly owned by FHL and the Raibevu Family Trust. The Trust contributed land as equity and holds a 40 per cent shareholding, while FHL holds the remaining 60 per cent and provides investment and commercial expertise.
“This groundbreaking ceremony is more than just laying a foundation; it is about creating opportunities for iTaukei landowners to participate directly in the commercial development of their own resources. Our partnership reflects FHL’s continued commitment to accelerating iTaukei participation in the commercial sector while building a sustainable asset for both shareholders,” stated Mr Jaoji Koroi, Group CEO.
The project is expected to support more than 100 employment opportunities once the complex is fully tenanted, while also creating opportunities for the landowners to participate in and benefit from commercial activities within and surrounding the development.
The CBayview development is one of the projects under FHL’s impact investment portfolio. Through this approach, landowners contribute land as equity while FHL provides investment and commercial expertise, establishing a partnership aimed at long-term economic returns and community benefits.