Fijian landowners given a chance
19 May, 2022, 1:37 pm
ITaukei landowners have been given an opportunity to develop their land and earn premium capital from their property.
This was made clear during the commissioning of a 15 residential lot property development worth $616,000 in Vuda, Lautoka, yesterday.
While commissioning the project, Prime Minister Voreqe Bainimarama said the problem was that many landowning units did not have the upfront capital for major investments to develop their land so that they could lease it out for a higher return.
“This left communities vulnerable to being exploited by outside interests with deep pockets and bad intentions,” he said.
“Given the strength of the commercial case for subdividing and leasing out land, the Government decided we would help communities and ambitious individuals to unlock the capital they needed to develop their land and then get the right rental paid for it.
“Once that was done, we’d get out of the way and leave landowners with benefits that will pay out for generations.”
He said since 2015, similar projects had been carried out in Vuda, Yadua in Nadroga and Nasoqela in Tailevu.
“Work on similar projects is also underway in Wairabetia, Saweni, Veiseisei, Haravi and Lautoka.
“We don’t only empower landowners through these developments.
“Every lot we subdivide and make available to rent can become a home that can house a Fijian family.”
He added that employment opportunities were also a result of these projects.
“Every day we spend developing the land, we employ hardworking people, including many from the local communities.
“And every project we complete adds to the strength of our economy.
“That benefits everyone.”