The government is acknowledging its struggles in keeping up with the rising demand for housing in urban sectors, indicating a crucial need to address this high demand for home ownership.
The National Budget for 2024-2025 is setting aside $13.5 million out of a total $32.3 million precisely for the formalization of information settlements.
Finance Minister and Deputy Prime Minister, Professor Biman Prasad, stated that the government has solicited a tender from the private sector to construct 3000 housing units across five Housing Authority sites in an aim to increase the availability of affordable homes. These building sites are located in Nepani, Raiwaqa, Davuilevu, Wainibuku, and Tavakubu.
He further added that these projects will contribute to ongoing efforts in locations such as Sakoca, Tavela, Field Four, Tore, as well as kick-starting operations in Valewaquyaya in Ba and Vunika in Labasa.
A reserve of $5.5 million will continue to fund the first time home buyers grants, Prof. Prasad said. Moreover, an allocation of $7.9 million has been made for capital grants which will facilitate infrastructural developments such as the Veikoba bridge. This will subsequently support the residential development in Valelevu by the Housing Authority, a subsidy for the Public Rental Board, an expansion of the Koroipita model town, and a grant to Habitat for Humanity.