{"id":2051,"date":"2026-03-08T21:57:08","date_gmt":"2026-03-08T21:57:08","guid":{"rendered":"https:\/\/www.prb.com.fj\/?post_type=tenders&#038;p=2051"},"modified":"2026-03-23T22:12:39","modified_gmt":"2026-03-23T22:12:39","slug":"tender-01-2026-joint-venture-commercial-development-raiwaqa-ex-four-storey-site","status":"publish","type":"tenders","link":"https:\/\/www.prb.com.fj\/index.php\/tenders\/tender-01-2026-joint-venture-commercial-development-raiwaqa-ex-four-storey-site\/","title":{"rendered":"TENDER: 01\/2026 JOINT VENTURE COMMERCIAL DEVELOPMENT \u2013 RAIWAQA (EX FOUR-STOREY SITE)"},"content":{"rendered":"<p><strong><u>INVITATION TO TENDER: 01\/2026<\/u><\/strong><\/p>\n<p><strong><u>JOINT VENTURE COMMERCIAL DEVELOPMENT \u2013 RAIWAQA (EX FOUR-STOREY SITE)<\/u><\/strong><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> INVITATION<\/strong><\/li>\n<\/ol>\n<p>The Public Rental Board (PRB) hereby invites sealed tenders from qualified, experienced, and financially capable developers to enter into a Joint Venture (JV) arrangement for the design, financing, construction, leasing, operation, and management of a four (4) storey commercial development situated at the following locations:<\/p>\n<ol>\n<li><strong>Lot 1, DP5380<\/strong>: 10,700m\u00b2 (2.647 Acres).<\/li>\n<li><strong> 4 Storey &#8211; Lot 2, DP5380<\/strong>: 300m\u00b2 (0.074 Acres)<\/li>\n<\/ol>\n<p>The development shall be undertaken in full compliance with PRB policies, Planning Regulations Board approvals, and all applicable statutory and regulatory requirements.<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"2\">\n<li><strong> OBJECTIVE OF THE JOINT VENTURE<\/strong><\/li>\n<\/ol>\n<p>The objective of the Joint Venture is to:<\/p>\n<ul>\n<li>Optimise the commercial value of PRB land assets<\/li>\n<li>Deliver a financially sustainable and market-responsive commercial development<\/li>\n<li>Generate long-term recurring revenue for PRB<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ol start=\"3\">\n<li><strong> SCOPE OF WORK<\/strong><\/li>\n<\/ol>\n<p>The successful Tenderer shall be responsible for:<\/p>\n<ul>\n<li>Conceptual and detailed design<\/li>\n<li>Securing all statutory approvals (including PRB and municipal approvals)<\/li>\n<li>Project financing<\/li>\n<li>Construction and commissioning<\/li>\n<li>Leasing, tenancy management, and asset management<\/li>\n<li>Ongoing operations and maintenance<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/www.prb.com.fj\/wp-content\/uploads\/2026\/03\/ADDENDUM.docx\">Addendum &#8211; Addition of Two Lots to the RFT Scope<\/a><\/strong><\/p>\n<ol start=\"4\">\n<li><strong> MANDATORY ELIGIBILITY REQUIREMENTS<\/strong><\/li>\n<\/ol>\n<p>Tenders failing to meet any mandatory requirement shall be deemed non-responsive.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>4.1 Legal &amp; Compliance<\/strong><\/p>\n<p>Tenderers must:<\/p>\n<ul>\n<li>Be legally registered and authorised to conduct business<\/li>\n<li>Have no pending or existing legal proceedings, disputes, or judgments in any court or tribunal<\/li>\n<li>Declare that no directors, shareholders, or key personnel are subject to international warrants of arrest, criminal investigations, or sanctions<\/li>\n<li>Comply with all applicable laws and regulations<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>4.2 Financial Capacity<\/strong><\/p>\n<p>Tenderers must:<\/p>\n<ul>\n<li>Submit audited financial statements for the last three (3) financial years<\/li>\n<li>Provide evidence of access to project financing and working capital<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>4.3 Technical &amp; Commercial Experience<\/strong><\/p>\n<p>Tenderers must demonstrate:<\/p>\n<ul>\n<li>Proven experience in commercial or mixed-use developments of similar scale<\/li>\n<li>Successful delivery of joint venture or public\u2013private partnership projects<\/li>\n<li>Availability of suitably qualified technical and management personnel<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ol start=\"5\">\n<li><strong> JOINT VENTURE COMMERCIAL TERMS (INDICATIVE)<\/strong><\/li>\n<\/ol>\n<p>The Joint Venture shall be structured on the following indicative basis, subject to negotiation and final agreement:<\/p>\n<p>&nbsp;<\/p>\n<p><strong>5.1 Land Contribution<\/strong><\/p>\n<p>PRB shall contribute the development site as its equity contribution<\/p>\n<p>Land ownership shall remain vested with PRB at all times<\/p>\n<p>&nbsp;<\/p>\n<p><strong>5.2 Developer Contribution<\/strong><\/p>\n<p>The Developer shall provide 100% of project financing, including design, approvals, construction, and operational setup<\/p>\n<p>&nbsp;<\/p>\n<p><strong>5.3 Revenue Sharing Framework<\/strong><\/p>\n<p>Net Operating Revenue (after agreed operating expenses) shall be shared as follows:<\/p>\n<p>Public Rental Board: [30\u201350]%<\/p>\n<p>Joint Venture Partner (Developer): [50\u201370]%<\/p>\n<p>Final revenue sharing percentages shall be determined based on financial returns, risk allocation, and capital investment.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>5.4 JV Term<\/strong><\/p>\n<p>Indicative JV term: 25\u201340 years, inclusive of construction and operational periods<\/p>\n<p>At expiry, the development shall revert to PRB, free of encumbrances, unless otherwise agreed<\/p>\n<p>&nbsp;<\/p>\n<p><strong>5.5 Asset Control<\/strong><\/p>\n<p>PRB shall retain equal approval rights over:<\/p>\n<ul>\n<li>Major tenants<\/li>\n<li>Changes to use<\/li>\n<li>Disposal or assignment of JV interests<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ol start=\"6\">\n<li><strong> TENDER SUBMISSION REQUIREMENTS<\/strong><\/li>\n<\/ol>\n<p>Tender submissions must include not limited to the following:<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Legal &amp; Corporate Documentation<\/strong><\/li>\n<\/ol>\n<p>Certificate of Incorporation \/ Registration<\/p>\n<p>Ownership and shareholder structure<\/p>\n<p>Board resolution authorising submission<\/p>\n<p>Statutory declaration confirming legal standing and compliance<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Financial Documentation<\/strong><\/li>\n<\/ol>\n<p>Audited financial statements (last 3 years)<\/p>\n<p>Bank reference or funding commitment letter<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Concept Development Proposal<\/strong><\/li>\n<\/ol>\n<p>Architectural concept design suitable for Raiwaqa<\/p>\n<p>Compliance with planning and zoning requirements<\/p>\n<p>Sustainability and lifecycle considerations<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Revenue &amp; Commercial Model<\/strong><\/li>\n<\/ol>\n<p>Detailed revenue generation strategy<\/p>\n<p>Financial projections and cash flow forecasts<\/p>\n<p>Sensitivity and risk analysis<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Indicative Tenancy Plan<\/strong><\/li>\n<\/ol>\n<p>Proposed tenant mix and target market<\/p>\n<p>Floor-by-floor indicative tenancy layout<\/p>\n<p>Rationale for revenue optimisation<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Project Delivery Programme<\/strong><\/li>\n<\/ol>\n<p>Indicative construction and completion timeline<\/p>\n<p>Risk management framework<\/p>\n<p>Health, Safety &amp; Environmental (HSE) policies<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"7\">\n<li><strong> EVALUATION CRITERIA<\/strong><\/li>\n<\/ol>\n<p>Tenders will be evaluated on:<\/p>\n<ul>\n<li>Compliance with mandatory requirements<\/li>\n<li>Financial strength and sustainability<\/li>\n<li>Quality and feasibility of development concept<\/li>\n<li>Revenue generation potential<\/li>\n<li>Experience and delivery capability<\/li>\n<li>Value to PRB<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ol start=\"8\">\n<li><strong> SUBMISSION DETAILS<\/strong><\/li>\n<\/ol>\n<p><strong>Submission Method:<\/strong> Sealed envelope \/ electronic submission<\/p>\n<p style=\"text-align: center;\">Tenders are to be marked \u201c<strong>Tender 01\/2026 \u2013 Raiwaqa Joint Venture Opportunity\u201d<\/strong> &amp; addressed to:<\/p>\n<p style=\"text-align: center;\"><strong>The General Manager<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>Public Rental Board<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>P O Box 5275<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>Raiwaqa<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Late, incomplete, or conditional tenders will not be considered. and all electronic submissions shall be uploaded to the PRB website <a href=\"http:\/\/www.prb.com.fj\">www.prb.com.fj<\/a> no later than 3.00pm on <strong>Friday 17th April 2026.<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Contact person is Maloni Daurewa on telephone 3387787 or email at <a href=\"mailto:tender@prb.com.fj\">tender@prb.com.fj<\/a><\/p>\n<p>&nbsp;<\/p>\n<ol start=\"9\">\n<li><strong> DISCLAIMER<\/strong><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>PRB reserves the right to:<\/p>\n<ul>\n<li>Accept or reject any or all tenders<\/li>\n<li>Amend or cancel this tender process<\/li>\n<li>Enter negotiations with one or more tenderers<\/li>\n<li>Not be bound to accept the lowest or any tender<\/li>\n<\/ul>\n","protected":false},"featured_media":0,"template":"","tender_category":[],"class_list":["post-2051","tenders","type-tenders","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TENDER: 01\/2026 JOINT VENTURE COMMERCIAL DEVELOPMENT \u2013 RAIWAQA (EX FOUR-STOREY SITE) - Public Rental Board<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.prb.com.fj\/index.php\/tenders\/tender-01-2026-joint-venture-commercial-development-raiwaqa-ex-four-storey-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TENDER: 01\/2026 JOINT VENTURE COMMERCIAL DEVELOPMENT \u2013 RAIWAQA (EX FOUR-STOREY SITE)\" \/>\n<meta property=\"og:description\" content=\"INVITATION TO TENDER: 01\/2026 JOINT VENTURE COMMERCIAL DEVELOPMENT \u2013 RAIWAQA (EX FOUR-STOREY SITE) &nbsp; 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