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A boom in commercial construction sector

A boom in commercial construction sector

According to 2017 September Quarter Building Statistics reported by Bureau of Statistics, construction for commercial purposes hit $81 million marks back in 2011. The report also indicated that certificates issued upon completion of such projects were 74 while 140 permits worth an estimated $96.16m was granted the same year. This growth decreased in 2012 and 2014 but picked up in a gradual rise in 2016 with an increase to 173 permits issued in 2016 from the 140 in 2011. Sadly, a drop in completed commercial property value to $44.25m in 2016 from $62.79m in 2015 was noted.
This report from Bureau of Statistics is, however, a representation of the whole nation’s construction industry. However, it is evident that commercial construction is booming in Suva Capital City and its outskirts.
An increase in the number of permit certificates issued for construction of the private residence was reported. Consequently, documents issued upon completion of private homes have also increased leading to a notable change in the residential scenery since 2009 mainly in Suva. Completion certificates for private homes rose from $12.22m in 2010 to $ 26.20m in 2016.
The government had estimated $142.11 million worth plans for new construction projects of private homes representing an issuance of 173 permits. However, the report notes completion of 158 projects only from the 173 construction permits issued for that period.
Several commercial construction projects can be seen in Suva including apartments, recreation buildings such as Garden City, Magzon and WG Friendship plazas and Lees Factory conversion into an office complex.

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