Reward employees: Akbar

From left: REALB board member Hemant Kumar, Minister for Education, Heritage and Arts, Rosy Akbar, with new comer of the year and Lautoka agent of the year winner, Vitalina Tubuna, on October 30,2020. Inset: One Agency Bayshore Top Agent of the Year and Mentor of the Year winner, Pita Raiqeu. Photo: Maraia Vula.

Rewarding your employees is the key. The message from the Minister for Education, Heritage and Arts, Rosy Akbar, was announced during the One Agency Bayshore Fiji Pty Ltd awards night at Tanoa International Hotel, Nadi, past Friday.

Company managing director, Arif Khan, set up Bayshore Real Estate in 2015. The company has residential, commercial and international clients around the country.

Pita Raiqeu won the top agent of the year and mentor of the year awards.

“In 2017, I started with One Shore Bayshore Real Estate,” he said. “I learned a lot, and I’m enjoying the journey,” he said.

“The reason I enjoy working for this real estate agency is because there are systems in place.

“It enables us to achieve what we now are achieving. We have a very good work environment. My leader, Arif Khan is a very influential and supportive leader.”

Minister Akbar said it was important that employers rewarded employees.

“It’s important that you work as team and support each other.”

Appreciation

Ms Akbar said: “We should also appreciate what our employees do for us.”

Mr Khan said the company was one of the few to hold annual awards in recognition of staff efforts.

“We take the time out to recognise our top performers, mentors, and the administrators,” he said.

“Despite COVID-19, we’re still going ahead with the awards night.”

He said they were delighted to have the Minister of Education, Rosy Akbar, to join the award night as the theme was educating and uplifting the real estate industry.

“The bedrock of Bayshore Real Estate success has been education,” Mr Khan said.

“We don’t take any agent or salesperson until they attend a mandatory class. Once they pass the test, they then get to practice.

“These are the steps we have to take to elevate the standard of real estate in Fiji, and that’s working out well for us.”

Growing

Mr Khan said: “We have grown quite quickly in a period of four years, with a strong presence in Lautoka, Nadi and Suva.

“We have about 30 staff.

“We’re growing and recruiting in COVID-19 crisis, because real estate is a recession-proof business.

“One of the trends we have noticed was people are buying farmland.

“No way in the world can you pick up maybe 10 acres or 20 acres with $50, 0000 or $60,000, except in Fiji.”

Credit: Fiji Sun

Date: 2/11/2020

Students’ fall victims to bogus agents

SEEMA SHANDIL

Bogus real estate agents are taking advantage of desperations caused by COVID-19 to prey on vulnerable Fijians including students.

Fifty complaints have been registered by the Consumer Council of Fiji valued at over two hundred and five thousand dollars.

These are against unlicensed agents since January this year.

Chief Executive Seema Shandil says students have also lost out on a substantial amount of money.

“Students have not been spared as well. There have been some bogus real estate agents who are taking students in the pretence that they will be leased out a particular flat and they have also been made to pay the bond. It is bond plus the rent and then they disappear. In many instances, the council has been able to assist the students”.

Fijians have been urged to verify the identities of these agents with the Licensing Board and the Association before engaging them.

Credit: FBC

Date: 13/10/2020

Real estate agents front-liners of the investment sector

The issue of unscrupulous realtors, unethical practices, shortage of affordable and quality housing must be addressed.

Permanent Secretary for Industry, Trade Shaheen Ali stressed this during the Second National Real Estate Conference adding that other issues that will need to be addressed include skilled labor shortage, natural disasters, and climate change.

Ali says real estate agents are front-liners of the investment sector and they meet investors and potential investors on a daily basis.

He says the way these agents interact with that investor determines the first impression the investor will have on doing business in Fiji.

Ali says real estate agents must conduct themselves in a business-friendly and investment facilitative manner.

He says the Government will finalize the Investment Act, which will replace the old Foreign Investment Act by this year.

Ali says the new Act will create an open and modern framework, which also reorganize and reform Investment Fiji.

Credit: FBC

Date: 23/2/2020

Low-income earners cannot afford adequate housing: REALB

THE REAL ESTATE AGENTS LICENSING BOARD HAS REVEALED THAT THERE ARE LOTS OF FACTORS THAT AFFECT REAL ESTATE PROPERTIES INCLUDING THE ABILITY OF PEOPLE TO PAY.

The Real Estate Agents Licensing Board has revealed that there are lots of factors that affect real estate properties including the ability of people to pay.

REALB Chair Dr Abdul Hassan says low-income earners cannot afford adequate housing space and therefore do not enjoy the right standard of living in the country.

Dr Hassan says low income is one factor that affects their market as not many activities are taking place.

“People are still struggling with the cost of living and other factors. That has been one of the reasons why people are a bit hesitant to invest in properties particularly properties that are of very high values in the market.”

Dr Hassan says the market of properties is going to depend on the supply and demand factor.

He adds rural to urban drift is another factor affecting the market.

Credit: FBC

Date: 21/1/2020

23 cases of bogus agents with CID

THE REAL ESTATE AGENTS LICENSING BOARD WILL NO LONGER TOLERATE ANY UNETHICAL OR ILLEGAL ACTIVITIES FROM SALESPERSONS OR AGENTS.

The Real Estate Agents Licensing Board will no longer tolerate any unethical or illegal activities from salespersons or agents.

REALB Compliance and Monitoring Officer, Vinal Singh says they continue to receive complaints regarding bogus agents acting as potential property sellers and the Board is taking strict action against them.

Singh says they recently referred a bogus agent who was involved with a salesperson to the Police Criminal Investigations Department.

“So the board I must say is very serious with this matter and we will take serious actions on all other real estate agents and salesperson if found to be dealing with bogus agents.”

He adds that to date REALB has forwarded 23 cases of bogus agents to Police CID and some have been charged and produced in court.

Credit: FBC

Date: 20/12/2019

Private sector plays a crucial role in economic growth: Dr Reddy

DR MAHENDRA REDDY [3RD FROM LEFT] DURING THE OPENING OF THE AFRICAN CARIBBEAN PACIFIC (ACP) AND EU SHARING AND NETWORKING EVENT IN NADI TODAY [SOURCE: FIJIAN GOVERNMENT]

The private sector plays a crucial role in economic growth says Acting Minister for Foreign Affairs Dr Mahendra Reddy.

While opening the African Caribbean Pacific (ACP) and EU Sharing and Networking Event in Nadi today, Dr Reddy stressed that the private sector needs encouragement and support as it is also the engine for job creation.

“The government provides the public infrastructure, we provide an enabling environment but at the end of the day the private sector must lead the growth for the development to be sustainable.”

Dr Reddy says while the meeting targets ACP stakeholders and other beneficiaries they must first focus on the small and micro medium enterprises.

Private sector representatives present during the three-day conference include micro-small-medium enterprises, financing institutions and investment promotion authorities from the Pacific Region.

Credit: FBC

Date: 16/12/2019

Lautoka Hub Near Completion, Opening Set For April 2020

An artists impression of the new Lautoka Hub

Pacifique Du Sud Managing Director Rajendra Nath said that with 79 percent of Lautoka Hub being already complete, the opening of the complex was being earmarked for the end of April.

Mr. Nath said works for the $12 million property at Waiyavi started May last year with structural works finished.

“100 percent everything is going according to plan, I had good people working with me like the architects, builders, and the subcontractors and the Lautoka City Council.

“Structurally it’s done but once that is finished then we have to start on the landscaping because the whole area will be sealed and we will be planting a rain tree in between and then other flower gardens, car wash, satellite market stalls as well as fish and chip shop,” he said.

He said the last stage of the project was the 60-meter extension of the hub behind the main building if granted approval form the Lautoka City Council, a water slide area for children as well.

The partially complete Lautoka hub located along Sukanaivalu road in Lautoka.

He said he hoped the hub would be a one-stop-shop for the Waiyavi, Lautoka community to help members of the public to no longer deal with issues like parking or traffic congestion.

“Stall fees will be at a minimum and we will be giving four acres for parking while the rest is for the development,” he said.

“Tenants are coming and most of the spaces are taken since and we are still negotiating for the supermarket but in total there are 40 units.

There will be benches with charging pods, restaurants, office spaces, retail shops, bread shops, and a hardware shop.”

Mr Nath added once the hub is completed next year, community members will be invited for the grand opening.

“Whenever we do community developments we cannot hide them away from people, so I would imagine that would be appropriate to invite them and we are doing a lot of things for the community like places that they can relax,” he said.

Credit: Fiji Sun

Date: 9/12/2019

Fiji’s economic growth will pick up next year – IMF

From left:International Monetary Fund Advisor – Executive Director Lanieta Rauqeuqe, IMF Economist Sio Guo, IMF Mission Chief Pablo Murphy Lopez, IMF Executive Director Juda Agung, IMF Resident Representative Tubagus Feridhanusetyawan [Photo: IMF Twitter]

The Fijian economy will recover next year where growth will be faster because the tourism sector will have a better year as New Zealand and Australia are expected to get stronger, and the Fijian government is also making public debt reduction a priority in the current budget.

This has been highlighted by International Monetary Fund’s Mission Chief, Pablo Lopez Murphy at the Global Developments and Prospects: Implications for Fiji Seminar at the Reserve Bank last night.

Murphy says economic growth in Fiji has been about 1% this year but that is estimated to increase to about 1.8% next year.

He says for further improvements the government should try to improve the business environment for private sector which simply means trying to promote private investment.

Murphy says the government has provided significant support to the economy particularly after Tropical Cyclone Winston but the focus should be more on the private sector and for that to happen an improvement in the business environment will be helpful.

He says the government has made it clear in the budget that reducing public debt is a priority.

Murphy says he is confident that the government will go in that direction.

Credit: Fijivillage

Date: 12/12/2019

TISI Sangam Fiji Foundation Launches $3 Million Retirement Villa Project

An artist impression of the newly launched TISI Sangam Fiji Foundation retirement villa project.

The TISI Sangam Fiji Foundation yesterday launched its new $3.4 million project in Suva.

The project consists of 16 Retirement Villas in a freehold 54 acre land in Nawai, Nadi.

The retirement village project was launched by TISI Sangam Fiji Foundation President Sadasivan Naicker and Chairman Sanjeev Mudaliar at the Suva Sangam Hall in Samabula, Suva.

TISI Sangam Fiji Foundation chairman Sanjeev Mudaliar said each two bedroom villa would cost approximately $295,000.

“In terms of pricing, these are approximate pricing and they are still subject to making a few adjustments,” Mr Mudaliar said.

“There is no retirement village of this magnitude in Fiji at this stage. This would be so affordable. The whole idea is it for people who are retiring,” he said.

“There are people who have children overseas who need better lifestyle for their parents.”

Expressions of interests

He said after the launch they would welcome expressions of interest from the public on the new villas.

“This would be an opportunity for the first 16 to register their interest in the new homes.

“Already there have been a lot of interest from people overseas for people that have been acquiring and reserving the two bedroom villas for their moms and dads.

“We need everyone to know that this is not restricted to Sangam families only, it is open to anyone.”

Project funding

Mr Mudaliar said the first phase of the project that includes 16 villas is estimated to cost more than $3m.

“I think it’s a good time for us to inject this into the economy,” he said.

“In terms of funding. I think many banks will be interested given the way things are and which bank would provide the best deals for us.

He said Sangam was in a position to self-fund the project as well.

“The idea now is to finalise

Legal and social challenges come with cheap housing plan

A NUMBER OF LEGAL AND SOCIAL ISSUES HAVE TO BE TACKLED TO MAKE THE GOVERNMENT PLANS FOR AFFORDABLE HOUSING A SUCCESS.

A number of legal and social issues have to be tackled to make the government plans for affordable housing a success.

Discussions at the Annual Attorney General’s Conference today centered around the International Finance Corporation’s partnership with the government to build cheap high rise apartments for low-income earners.

IFC Investment Officer Ritesh Vij says new challenges will come with the construction of multi-storey apartments.

“It requires cultural and social acceptability to this concept. In all countries whether Asia, Europe or the US. Transitioning from horizontal living to vertical, was never easy. The government at different stages had to bring the right elements to strengthen the acceptability of vertical living.”

Vertical housing is needed in the Suva/Nausori corridor due to rapid urbanization and lack of housing – and new privately run-flats are not for the average family.

“They are all not targetted at affordable housing so it was out of reach for the majority of the population. What we need to consider is how to make it work by making it affordable”

The IFC is also working on laws to allow Fijians to own units, tenureship and community by-laws for people living in a complex.

Discussion is also needed on how these complexes will be run.

Credit: FBC

Date: 6/12/2019