The Fiji National Provident Fund (FNPF) is actively pursuing its strategy of acquiring high-quality assets that promise robust income and potential for capital appreciation. In the 2025 financial year, the Fund made significant investments, purchasing four prime lots in Pacific Harbour for $25 million, positioning itself for future mixed-use development.
The portfolio was further enhanced by expanding its beachfront cluster in Natadola, where part of the land has been pre-leased to Google for a submarine cable landing beach manhole, thereby increasing the strategic value of the assets. The annual report for 2025 highlights notable revaluation gains, with the Fund’s portfolio fair value increasing by 12 percent, reaching a total of $676.7 million. This growth has been largely attributed to increases in rental income as well as the integration of new properties.
Leasing performance for the Fund remained robust, achieving an impressive 96 percent occupancy across a substantial 74,461 square meters of gross building floor area. Furthermore, the like-for-like rental income rose sharply by 26 percent, escalating from $29.5 million to $37.1 million as of June this year.
At the conclusion of the financial year, the FNPF’s portfolio comprised 38 properties, consisting of 24 income-generating assets spanning retail, commercial, and office spaces, alongside 14 vacant land parcels earmarked for future development. The Fund employs active asset management techniques to minimize tenant turnover, while also engaging in strategic land-banking to foster long-term value, ensuring the resilience and purposeful direction of its property portfolio.
Overall, the FNPF’s strategic actions and performance indicators underline its commitment to enhancing the quality and profitability of its investments, contributing positively to its financial stability and future growth prospects.
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