The Fiji National Provident Fund (FNPF) has announced its pivotal involvement in a transformative $250 million tourism project scheduled to be publicly unveiled today. This initiative is hailed as a significant milestone for Fiji, with projections suggesting it will create around 500 jobs and contribute approximately $26 million to the nation’s economy.

Key partners in this ambitious undertaking include BSP Bank and Australian real estate company Realcorp, led by Bob Lowres, who is renowned for his successful development projects, including Naisoso Island. Ahead of the announcement, Realcorp has reported securing $181 million in pre-sales, showcasing strong market confidence and optimism that the entire project could be sold out by its expected completion date in late 2026.

FNPF has steadily increased its investments in the tourism sector over the past few years, acquiring full ownership of multiple prominent hotels and a 30 percent stake in Fiji Airways during the COVID-19 pandemic. The Fund’s recent 2024 annual report highlights that these investments are yielding favorable returns, driven by a resurgence in tourist activity leading to increased occupancy rates and revenue across its hotel portfolio, which includes celebrated establishments such as the InterContinental Fiji Resort & Spa and the Fiji Marriott Resort at Momi Bay.

With assets exceeding $10 billion, FNPF stands as one of Fiji’s largest property owners, making its role essential in fostering job creation and economic growth within the tourism sector. The optimism surrounding this new project aligns with government initiatives designed to enhance investment opportunities, ensuring Fiji remains an attractive destination for both domestic and international stakeholders.

This initiative promises not only to rejuvenate the job market but also to reinforce Fiji’s reputation as a premier tourist destination. It underscores the resilience of the tourism sector and offers a hopeful future for the economy, highlighting the potential for sustained growth in the coming years.

In summary, the project is positioned to deliver significant contributions to Fiji’s economic landscape and reflects a strong commitment to nurturing a thriving tourism industry that benefits local communities and supports broader economic development.