{"id":635117,"date":"2026-10-19T09:06:15","date_gmt":"2026-10-19T09:06:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/635117\/"},"modified":"2026-10-19T09:06:15","modified_gmt":"2026-10-19T09:06:15","slug":"jobs-expected-as-rb-patel-invests-25m-in-new-7-storey-21-apartment-complex-in-suva","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/635117\/","title":{"rendered":"Jobs expected as RB Patel invests $25M in new 7-storey, 21-apartment complex in Suva"},"content":{"rendered":"

RB Patel is investing $25 million in a seven-storey, 21-apartment complex in Suva as it expands its property portfolio, with the project expected to create employment and business opportunities while keeping investment benefits within Fiji.<\/p>\n

The proposed apartment complex will be built at 25 Knolly Street and will include two levels of car parking and 21 two- to three-bedroom apartments.<\/p>\n

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Minister for iTaukei Affairs Ifereimi Vasu says the project will take about 15 months to complete and is expected to create jobs.<\/p>\n

Vasu says further employment and business opportunities are expected once the complex is completed, although the number of jobs has not been specified.<\/p>\n

The project will be constructed by Global Construct PTE Limited, a Chinese company undertaking its first project in Fiji.<\/p>\n

Vasu says RB Patel has continued to invest in property development alongside its supermarket, wholesale and distribution businesses.<\/p>\n

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The company operates 12 supermarkets across Fiji and has a property portfolio worth more than $80 million as of 30 June this year.<\/p>\n

Its existing developments include Checkpoint Complex in Martintar, Nadi, Harbour Point Complex and a convention centre in Lami, as well as residential apartments in Clark Street, Suva.<\/p>\n

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RB Patel is also developing a $20 million commercial complex on a 10-acre site in Wailevu, Macuata, which is expected to be completed around June to July next year.<\/p>\n

The company has also identified future development opportunities in Ba, Nadawa and Suva.<\/p>\n

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Fijian Holdings Limited Group CEO Jaoji Koroi says RB Patel is one of FHL’s key subsidiaries, with FHL acquiring a majority stake in the company in 2007.<\/p>\n

Koroi says more than 90 percent of RB Patel’s shareholder base comprises major local institutions, including the iTaukei Trust Fund, BSP Life and the Fiji National Provident Fund.<\/p>\n

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He says this means the benefits generated through the company’s investments can remain in Fiji and support local communities.<\/p>\n

Koroi says FHL Group’s total assets exceeded $1 billion for the first time this year, following $436 million in investments across various sectors over the past four years.<\/p>\n

He says FHL recorded a consolidated group profit of $67 million for the financial year ending June 2026.<\/p>\n

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Meanwhile, Vasu says Government recognises that economic development is important to the social and economic well-being of the people.<\/p>\n

He says successful development requires cooperation between landowners, traditional institutions, statutory bodies, investors, financial institutions and the private sector.<\/p>\n

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RB Patel Chairman Jitoko Tikolevu says the company aims to strengthen its property investments, provide spaces for businesses and services, and support economic activity across Fiji.<\/p>\n

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