Fiji’s June quarter building approvals data was published last week.

It shows that the current price (nominal) value of building approvals lifted over 70 percent in the June quarter to $193.1m.

For the first half of 2024, approvals were up 45.1% over the same period last year.

ANZ in its latest Pacific Insight says private non-dwelling building approvals shot up 176.2 percent in June to $125.4m, after rising around 55 percent in March.

It says the shopping mall and warehouse segments have been the main drivers.

Non-residential permits issued in the first half of 2024, $170.8m, are already up by 23.9% of the total value of permits issued in the 2023 calendar year.

The Pacific Insight also states that non-residential building opportunities will continue to growing.

It says Fiji has built an impressive investment pipeline for non-dwelling buildings.

Several projects including offices, shops, warehouses, hospitals, factories, hotels and resorts are slated to commence over the next two to three years.

ANZ’s International Economist Kishti Sen says with ongoing policy and legislative certainty, more of these projects are entering the permitting stage.

Sen says they expect building approvals to remain strong, in both value and volume heading into 2025.

He states that this could even break the previous landmark of $350m reached in 2018.

Sen adds that as approved projects go to commencement, they expect construction activity to become the dominant driver of Fiji’s economy in 2025.

However, he warns that capacity constraints could, however, delay commencements and completions.

Sen says Fiji is losing a lot of construction workers to overseas employers’ ad a steady supply of skilled workers is needed to ensure a smooth transition from approvals to completion of the next tranche of projects.