FNPF expected to invest $300M

The Fiji National Provident Fund is expected to invest $300 million in committed projects in the next two years.

During the Fiji‑Australia Business Council Forum at GPH, FNPF Chief Investment Officer, Jaoji Koroi highlighted that this include Momi Bay project which will have the 250‑rooms Marriot Hotel.

He said Momi re‑development main construction contract was issued last month which is a twenty four months construction program for completion by the end of 2016.

Other stages include the residential feature.

He added that the Holiday Inn refurbishment and extension will also be done and the first stage of the Natadola residential development is expected to start soon.

It also includes two retail and commercial developments.

Koroi said the Intercontinental Natadola Resort continues to perform well, beginning to write back impairments.

Koroi said that reforms have placed FNPF in a strong and sound financial position and the members should now have high balances at retirement.