BRED Bank Fiji has announced a significant finance request in collaboration with the Fiji National Provident Fund (FNPF), totaling $150 million. This financing will support three 100% owned subsidiaries of FNPF, namely Barton Pte Limited t/a Sheraton Fiji Resort, Momi Bay Resort Pte Limited t/a Fiji Marriott Resort Momi Bay, and Natadola Bay Resort Pte Limited t/a Intercontinental Fiji Golf Resort & Spa.
FNPF: a key player in investment growth
Established in 1966, the FNPF has been a cornerstone of Fiji’s financial landscape, with a primary focus on providing retirement benefits. Over the decades, FNPF has not only become the largest fund holding in Fiji but also the largest property owner and investor. The current finance request aims to balance FNPF’s onshore and offshore investments, reflecting its strong financial standing.
Refinancing owner loans
BRED Bank Fiji’s role in this partnership is to refinance owner loans for the three iconic resorts. With FNPF’s strong membership base and financial stability, BRED Bank Fiji will refinance $40 million for Sheraton Fiji Resort, $40 million for Fiji Marriott Resort Momi Bay, and $70 million for Intercontinental Fiji Golf Resort & Spa.
Strengthening tourism sector
By financing these renowned hotel brands located in premier tourist destinations such as Denarau Island, Momi Bay, and Natadola Beach, BRED Bank Fiji aims strengthen the tourism sector, which contributes significantly to Fiji’s GDP. This strategic move not only solidifies BRED’s presence in the tourism industry but also opens doors for future investments in larger properties and hotel chains.
Sheraton Fiji Resort
Fiji Marriott Resort Momi Bay
Intercontinental Fiji Golf Resort & Spa
