Facts & History
- Begin operations.
- Purchase and Home Improvement Loans.
- Small Program to build small units.
- Rental accommodation provided.
- To provide temporary accommodation for those who could not afford loans.
- Production and sale of serviced sites.
- 17,000 families benefited form housing programs or 34% of urban population.
- HA produced about 830 serviced sites. 700 mortgages. 1800 rental flats.
- New policy statement adopted by Board and Government.
- Public rental board separation.
- Loan agreement signed between Housing Authority, Government, world
- Bank and Asian Development Section.
- Out-sourced functions of the Planning and Development section.
- Reduction of interest rate from 11.5% to 6% to all customers earning below $6,500 annually.
- Special "Assistance Scheme" to help HA customers who have lost their jobs or
reduction in May crisis.
- Refinanced expensive loans.
- Moving on Package launched with initial Interest rate 5.99%.
- Implementation of more intensive and proactive management controls and introduction of Credit management unit.
- Celebrated 45 year of Service.
- Launching of Sapphire Package with initial rate 4.45%.
Highlights of the 2002/2003 Year:
- The moving on package with its 5.99% first year interest rate proved to be a major success in 2002
- Total loan provided under this package amounted to $29 million
- The mortgage portfolio grew by 10.6% in 2002 and 875 customers were able to make their accounts good
- On 3rd October 2002 Parliament approved the conversion to government equity of the $44 million owned moving the Authority from a negative equity position of $3.4 million in 2001 to a positive equity position of $38 million in 2002
- The Authority is in the process of designing major subdivisions at Waqadra in Nadi and Housing City in Suva
- HA recorded a surplus of $2.7 million. HA awarded Waila 3B project to BW Holding Limited for development of 466 fully serviced lots.
- HA launched sale of 421 residential lots at its Field 40 sub-division in Lautoka.
- Waila 3B sub-division completed, comprising of 466 lots. Most of the lots were allocated resettle squatters.
- Despite downturn in an economy Housing Authority recorded an operating profit of $0.583 million.
- 50 years of Housing in Fiji. Land and Housing Development Unit to re-establish
- Opening of the newly renovated Valelevu House