The government has acknowledged its significant shortcomings in addressing the escalating demand for housing in urban regions. It is pressing onward to fulfil the surging requirements for home ownership. Additionally, the 2024-2025 National Budget has allocated $13.5m of the $32.3m towards the formalisation of information settlements.
Deputy Prime Minister and Finance Minister Professor Biman Prasad disclosed that to boost the supply of reasonably priced housing units, the government has solicited a tender for the private sector to construct 3000 housing units over five Housing Authority sites. These are positioned in Nepani, Raiwaqa, Davuilevu, Wainibuku, and Tavakubu.
The minister further elaborated that this would cater to ongoing projects in various locations including Sakoca, Tavela, Field Four, Tore, and work soon commencing in Valewaquyaya in Ba and Vunika in Labasa.
In order to stimulate first-time home buying, a $5.5 million budget is in provision. Additionally, a total of $7.9 million will be granted for capital projects. These will include the construction of the Veikoba bridge to support housing development in Valelevu, subsidy for the Public Rental Board, expansion of Koroipita’s model town development, and a grant to Habitat for Humanity.