The Charan Jeath Singh Group of Companies has announced the upcoming construction of a $10 million apartment block at Barret Place, located off Laucala Bay Road in Suva, with plans for completion by March 2026. Group chairman Charan Jeath Singh confirmed that the necessary approvals for the project have been secured from relevant authorities.

In his statement, Mr. Singh explained that the next step for the project is to call for tenders. He emphasized the substantial investment, stating, “Considering the amount invested in the planned project, the monthly rentals for the apartments would range from $8000 and upwards,” indicating a tiered pricing structure based on the floor level—units on higher floors will command higher rates.

The chosen location is considered prime real estate in Suva, which unfortunately aligns with the ongoing challenges regarding affordable housing within the city. “We can’t expect anything to be at an affordable range in the city, but the government is exploring options to develop low-income housing in surrounding areas,” Mr. Singh noted. He referred to potential collaborative efforts between the government and private sector to identify locations for affordable housing developments, extending beyond Nausori to areas like Waila and Davuilevu.

It’s noteworthy to mention that while Mr. Singh is involved in the project, he clarified that his ministerial role does not intertwine with the business operations of the family-owned company. “I will continue my role in the government while they manage the necessary business transactions,” he stated.

The development of such a significant residential project comes amid growing discussions about housing affordability in urban areas and reflects a trend where substantial investments are being made in real estate to cater to higher-income sectors.

This investment could also stimulate economic activity in the region, providing jobs during construction and through subsequent rental income, reinforcing Suva’s position as an attractive location for future real estate developments. With ongoing government initiatives aimed at improving housing options, both luxury and affordable, this project showcases the dual approach needed to address housing needs in Fiji’s capital.

In essence, while the project presents high-end living options, it also underscores the importance of balancing various housing market demands. This could lead to enhanced collaboration between private developers and the government to foster a diverse housing market that accommodates all income levels.

Summary: The Charan Jeath Singh Group is set to build a $10 million apartment block in Suva by March 2026, following approval from relevant authorities. The project aims for monthly rentals starting at $8000, reflecting the prime location’s market demand. While addressing the challenge of affordable housing, Mr. Singh emphasized the need for collaborations between the government and the private sector. This development highlights ongoing investment trends in Fiji’s real estate sector and the commitment needed to cater to various housing needs.