The building of 1,500 flats and 350 houses in Tacirua with another 500 multi unit flats in Raiwai and Raiwaqa is expected to begin as early as next month.
Acting Housing Authority Chairman Ratu Josateki Nawalowalo revealed this after receiving confirmation from the EXIM Bank of China yesterday that their $70 million soft loan had been approved.
Nawalowalo said that work is dependent on the signing of final contracts by the end of the month.
The soft loan with an interest rate of 2 percent will see the Housing Authority getting $50 million and PRB getting $20 million.
The condition of the loan is that a company from China carries out all the works.
Flat constructions start next month
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