The government acknowledges that it’s falling behind in supplying the growing demand for housing in urban areas, expressing a need to accelerate efforts to keep pace with high rates of home ownership. The National Budget for 2024-2025 has allocated $13.5 million of the total $32.3 million towards the formalization of information settlements.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, disclosed that the government had invited tenders from the private sector to construct 3,000 housing units on five sites managed by the Housing Authority. These sites include Nepani, Raiwaqa, Davuilevu, Wainibuku, and Tavakubu.
According to Prof. Prasad, this initiative is expected to complement ongoing projects in Sakoca, Tavela, Field Four, Tore, as well as kick start work at Valewaquyaya in Ba and Vunika in Labasa.
The budget includes a provision of $5.5 million to continue the first home buyers grants. An additional $7.9 million has been allocated for capital grants to support various projects. These include the development of the Veikoba bridge to assist the Housing Authority’s residential lot development in Valelevu, a subsidy for the Public Rental Board, the expansion of the Koroipita model town development, and a grant to Habitat for Humanity.