The Fijian Government today issued a Request for Tender (RFT) for the country’s affordable housing Public-Private Partnership (PPP) project.
Minister for Finance, Prof Biman Prasad said the issuing of the RFT signals the start of a competitive and transparent tender process to identify qualified investors, developers and consortium to develop and finance the construction of more than 3,000 affordable housing units across five sites with land provided by the Government.
Prof Prasad said the project is in line with the Coalition Government’s vision to provide affordable and decent housing for all communities by 2032 – And is aimed at supporting families who struggle to find housing due to rising land and house prices.
“The project will steadily realise the Government’s vision to provide a range of affordable and high-quality housing options for Fijian families in the rapidly modernising economy.”
The Deputy Prime Minister revealed that the Government has already developed some associated infrastructure, including access roads, at the five identified sites in Raiwaqa, Nepani, Wainibuku, Davuilevu and Tavakubu.
He said along with constructing affordable housing for low and medium income families, the identified sites will also have opportunities for the successful bidder to construct high-end housing units, which can be sold to purchasers at market value, creating opportunities for interested investors to diversify the revenue stream.
Prof Prasad said a meeting held with the Association of Banks earlier this year, to draw their views and support for the Project –believes that the project’s success is also dependent on the support of financial institutions.
“Through these consultations, the Banks has expressed its interest in lending to all income segments based on the pricing and subsidy methodology proposed under the project; however, the Banks will determine its own assessment relating to borrowing.”
The partnership was announced alongside the Acting Minister for Housing Filimoni Vosarogo in Suva today.
