The Unit Trust of Fiji (UTOF) has commenced work on three new property developments valued at $150 million, strengthening its position as one of Fiji’s largest domestic institutional investors and contributing to the country’s wider commercial and urban development agenda. The projects were officially launched by Prime Minister Sitiveni Rabuka, who described the investment as a clear demonstration of confidence in Fiji’s economic trajectory and the capability of local enterprise.
To manage its expanding property portfolio, UTOF has established a new subsidiary, UTOF Properties Pte Limited, which will oversee the construction and long-term asset management of the developments. The new projects include a premium multi-storey office complex on McGregor Road in Suva’s Central Business District, a modern commercial centre in Namaka, Nadi, positioned to serve government agencies and corporate tenants in the tourism hub, and a 24-unit executive apartment development in Suva’s Laucala Bay precinct aimed at the upper residential market.
The $150 million commitment forms the first phase of a broader plan to scale UTOF’s property investment to $500 million by 2028. The Trust has experienced sustained growth in recent years, expanding assets under management from around $100 million in 2014 to $570 million in 2025. Its investment performance has also earned national recognition, including the President’s Award in the Fiji Business Excellence Framework in 2023.
Officials say the developments are expected to stimulate construction sector activity, create jobs and increase demand for professional and building services. In the longer term, the projects are intended to expand the availability of high-quality commercial and residential space, helping to attract new business tenants, support tourism-linked growth and enhance Suva and Nadi’s appeal as investment locations.
The initiative aligns with national development priorities, particularly urban renewal, infrastructure modernisation and private-sector-led investment. With further project phases planned, UTOF’s expansion signals stronger institutional participation in shaping Fiji’s future urban commercial landscape.
Main picture: Prime Minister Sitiveni Rabuka unveils three self-funded commercial building projects worth $150 million at the Grand Pacific Hotel. Photo: Talei Roko, Fiji Sun
