The Fiji National Provident Fund (FNPF) is taking significant steps to maximize the use of its valuable land in Vatuwaqa, Suva, particularly following the establishment of major global internet connections in the region. Naibuka Saune, FNPF’s chief investment officer, disclosed that the Fund has embarked on an extensive master planning initiative to identify the optimal applications for this prime land, which is strategically located next to the Vatuwaqa golf course and in proximity to facilities operated by its subsidiary, Fiji International Telecommunications Pte Limited (FINTEL).
The strategic value of the area has increased notably following the arrival of the Google submarine cable and the launch of satellite connectivity services by providers such as OneWeb and Starlink. Mr. Saune highlighted that the FNPF’s active engagement in the technology and telecommunications sector positions the Fund to ensure that its land assets contribute effectively to Fiji’s expanding digital economy.
“Given the infrastructure that now exists, we recognize a strong potential to develop facilities that capitalize on available connectivity,” he stated. Moreover, Mr. Saune indicated that the opportunities are not exclusively bound to Viti Levu, noting that with fibre connectivity in Vanua Levu, the Fund is also examining ways to promote similar developments in the Northern Division. “This represents an additional opportunity for Vanua Levu, and we are exploring how to facilitate these advancements there,” he added.
This initiative aligns with the FNPF’s broader strategy, which focuses on investing in infrastructure that promises long-term returns while bolstering national economic growth. The Fund recently acquired the Vatuwaqa land for approximately $6.3 million from ATH Technology Park Ltd, a subsidiary of the Amalgamated Telecom Holdings Limited (ATH), marking a significant investment in Fiji’s future.
The FNPF’s plans for its Vatuwaqa property not only signal growth potential for the organization but also highlight a broader commitment to enhancing Fiji’s digital landscape and overall economic resilience.
Leave a comment