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.
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.
Minister for iTaukei Affairs Ifereimi Vasu says the project will take about 15 months to complete and is expected to create jobs.
Vasu says further employment and business opportunities are expected once the complex is completed, although the number of jobs has not been specified.
The project will be constructed by Global Construct PTE Limited, a Chinese company undertaking its first project in Fiji.
Vasu says RB Patel has continued to invest in property development alongside its supermarket, wholesale and distribution businesses.
The company operates 12 supermarkets across Fiji and has a property portfolio worth more than $80 million as of 30 June this year.
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.
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.
The company has also identified future development opportunities in Ba, Nadawa and Suva.
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.
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.
He says this means the benefits generated through the company's investments can remain in Fiji and support local communities.
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.
He says FHL recorded a consolidated group profit of $67 million for the financial year ending June 2026.
Meanwhile, Vasu says Government recognises that economic development is important to the social and economic well-being of the people.
He says successful development requires cooperation between landowners, traditional institutions, statutory bodies, investors, financial institutions and the private sector.
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.
