$695m invested in the economy after approving 1,321 building applications

Over $695 million has been invested into the Fijian economy as 1,321 building applications were processed by the Department of Town and Country Planning in the 2021-2022 financial year.

The Ministry of Commerce, Trade, Tourism and Transport says this is a notable increase of 203 building applications from the 2020-2021 financial year and this has been attributed by the growth in the construction sector post-pandemic.

They say of the 1,321 building applications, 73 were categorised as major building applications, with a total value over $1 million.

The Department processed 698 survey plans in the last financial year, an increase of 72 percent from the previous year.

The Ministry says survey plans are the final document in the subdivision process before a title or lease is obtained so the results indicate that over the last financial year, more Fijians were able to complete their subdivision process and obtain proper title documents over their properties.

They further say 440 rezoning applications were further processed, where 38.86 percent were commercial rezoning applications.

They say the trend for commercial development saw an increase from the previous year of 30 percent, indicating the increased demand for commercial ventures in Fiji.