The Fiji National Provident Fund (FNPF) is set to play a significant role in a new $250 million tourism project that promises to create around 500 jobs and generate $26 million in revenue for Fiji. This ambitious real estate initiative, regarded as “a significant milestone for Fiji,” will be officially announced today.

Alongside FNPF, the project involves BSP Bank and Australian real estate firm Realcorp. Bob Lowres, the founder and managing director of Realcorp, is known for his previous development work on Naisoso Island. Realcorp has already secured $181 million in sales for this project ahead of the announcement, expressing confidence that the development will be fully sold out by its anticipated completion date in late 2026.

The FNPF has been actively increasing its stakes in the tourism sector, owning several key hotels and acquiring a 30% share in Fiji Airways during the COVID-19 pandemic. Recent reports indicate that these investments are yielding favorable returns as tourism activities rebound, with increased occupancy rates contributing to heightened revenues.

In its 2024 annual report, FNPF highlighted that as travel resumes and tourism grows, its hotel holdings have significantly benefited, showcasing the direct connection between the recovery of the tourism sector and financial performance. It noted that the boost in tourism has contributed positively to the Fund’s investments.

FNPF is recognized as a major local investor with a portfolio exceeding $10 billion, making it one of the largest property owners in Fiji. Its notable hotel and resort businesses include prestigious venues such as the InterContinental Fiji Resort & Spa and the Sheraton Fiji Resort, among others.

As the tourism sector continues to recover and grow, there are optimistic projections about its future impact on Fiji’s economy, potentially realizing an influx of $1 to $2 billion within the next year. This project, along with FNPF’s ongoing investments, aligns with the broader goals of enhancing Fiji’s tourism landscape and fostering economic growth.

Overall, this initiative not only represents a commitment to job creation and investment in the local economy but also emphasizes the resilience and recovery of the tourism industry in Fiji, fostering a hopeful outlook for the region’s financial future.