Great news for the people of Korovou as there will be a new shopping complex in their area after the groundbreaking ceremony of the new commercial development by the Fijian Holdings Limited (FHL), in partnership with Nawaibuta Properties Pte Limited (NPPL).
FHL says this significant development follows the formal signing of construction agreements on 19th June 2025 between Nawaibuta Properties Pte Limited, Design Hut as the Project Managers, and Cope Construction Pte Limited as the construction contractors.
The Nawaibuta Properties Pte Limited was established by the Yavusa Nawaibuta who represents the villages of Nailega, Navunisole, and Matacula, and their nine mataqali, through its commercial arm, Nawaibuta Holdings Pte Limited (NHL).
With strategic investment and support from FHL, Nawaibuta Properties Pte Limited will lead the delivery of this commercial development.
Nawaibuta Holdings Pte Limited currently owns and manages Nawaibuta House, a commercial investment property located in the heart of Korovou Town.
FHL Group CEO Jaoji Koroi says this groundbreaking ceremony is more than just laying a foundation; it's about building a future where iTaukei landowners and future generations are direct beneficiaries and drivers of economic progress by developing their own resources.
He says their partnership reflects FHL's continued commitment to accelerating iTaukei's participation in the commercial sector while ensuring sustainable returns for our shareholders.
FHL says the Korovou development is one of several projects under FHL's impact investment portfolio, with up to FJ$50 million approved for joint ventures with iTaukei resource owners.
They say landowners contribute land as equity, while FHL provides the necessary investment and commercial expertise, establishing a mutually beneficial relationship aimed at long-term economic returns and community benefits.
The project is also supported by FHL's major institutional shareholders who continue to play critical roles in facilitating and supporting these groundbreaking initiatives.
