High rise looks for tenants

Source: The Fiji Times
Author: Meri Radinibaravi

Fijian Holding Ltd (FHL) has completed renovation work on one of its properties, the Ratu Sukuna House.

Renovation work began in 2022, with the aim of meeting the required standard and specifications.

"Following the completion of these internal upgrades, efforts are now being directed towards engaging with potential tenants. The objective is to ensure full occupancy of all floors in the near future, revitalising the building and contributing to its vibrancy and utility," the FHL quarterly newsletter stated.

"This ongoing development and refurbishment work represents a significant investment in the local infrastructure and the commercial real estate market, that will provide modern facilities for its occupants and enhance the Suva CBD landscape."

FHL first announced the renovation in 2018 with an estimated cost of over $1.2 million.

Former FHL chief executive officer (CEO) Nouzab Fareed said they were taking advantage of the tax incentive that was announced by government in the 2018-2019 National Budget.

The tax incentive was that any capital investment of one million dollars or more, was exempted from a 125 per cent tax deduction and an additional 25 per cent investment allowance for modernisation of buildings in towns and cities.