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FNPF confirms NewWorld as anchor tenant


Dec 21, 2015 04:30:06 PM

FNPF confirms NewWorld as anchor tenant The Fiji National Provident Fund (FNPF) has secured premium supermarket chain NewWorld IGA as its anchor tenant for the new mall development, currently under construction along Greig Street, Suva.

FNPF’s Chief Investment Officer, Mr Jaoji Koroi, said the choice of NewWorld IGA as the supermarket tenant reinforces FNPF’s investment strategy in partnering with leading local and international brands like NewWorld IGA to provide growth for members’ funds through property investment.

“We are excited about the partnership with NewWorld IGA as it will provide Suva residents, especially our members, with another choice of convenient and quality shopping experience,” Mr Koroi said.

Anchored by the approximately 1000 square-metres NewWorld IGA store, the new mall is scheduled for completion in April, 2016, with a total lettable space of 2,500 square-metres of retail and restaurants on three levels.

A two-level covered parking facility with 150 parking spaces will be constructed beside the mall for shopper’s convenience.

NewWorld Director, Mr Anil Patel said the company is excited about joining forces with FNPF to open a brand new IGA format store in the new FNPF property.

“FNPF have some amazing ideas in bringing the shopping mall to life and will certainly be offering some amazing firsts in Fiji. Customers will love their new concepts and I believe it will become Fiji’s new destination of choice to shop,” Mr Patel said.

NewWorld has expanded across Fiji with 21 stores including 19 supermarkets.

IGA was started in May 1926, when a group of 100 independent retailers, led by J. Frank Grimes, organized themselves into a single marketing system.

IGA now operates in over 30 countries with Newworld holding the master franchise for Fiji.

Mr Koroi said FNPF will call for Expressions of Interests to lease out spaces in the new Mall.

There are 22 retail spaces, 6 food-court outlets and 3 dining spaces for the development.

“We have already received queries from interested parties that want to lease space in the mall. Ultimately, FNPF wants the right tenant mix that will provide attractive, unique and value-adding experience that will meet the shoppers’ expectations.”

The EOI will be published in early January, 2016.

FNPF will integrate all properties at the Greig, Marlow and Ellery Street corners that will include a refurbished FNPF Plaza and Downtown Boulevard shopping arcade with direct linkage to the new mall and carpark.

By Reginald Chandar

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