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Fijian Holdings Limited (FHL) announced Monday it has purchased shares in Fijian Property Trust (FPT) Company Limited belonging to the Fijian Affairs Board, making FPT its fully-owned subsidiary in the process.
The $600,000 buy-out means FHL now has full ownership of Ratu Sukuna House and Vanua House, commercial property assets situated along Suva’s Victoria Parade.
In a statement release, FHL managing director Sereana Qoro said the deal was a result of extensive negotiations with the Fijian Affairs Board.
“FHL initially invested into FPT in the early 1990s and the opportunity to acquire additional shares had been pursued for some time,” Qoro said.
She added their goal now is to make FPT a premier provider of office space and property management services in Fiji.
“FPT will be exploring suitable ways of expanding its property ownership and property management portfolio using our (FHL) extensive network of related entities and external stakeholders.”
