A third newly-developed piece of land prepped for 13 lots at a total cost of $2.73 million developed to global climate resilient standards, with underground cabling for EFL and Telecommunications was opened yesterday (11/10/22) by Prime Minister Voreqe Bainimarama in Yadua, Nadroga.
"Now that this land is developed, it should be leased at competitive market rates.
"Do not let any dollars go to waste. We have seen, in this same area, land that has been leased cheaply –– with large acreages going for less than what a single plot of this subdivision is valued."
"These valuations of your developed land are not plucked from thin air, they are carefully determined. You should seek the full dollar value for the leasing of every plot."
PM Bainimarama highlighted that the impressive piece of developed land not only benefits the members, present, and future of the Namara Trust, it increases the overall land value in the Nadroga area.
"It will also mean that those who buy the 99-year leased land will build new concrete homes. Banks will lend them money, they will need builders, tilers, plumbers, and other professionals. This means a huge rise in economic activity, and economic prosperity not only for the people of Yadua but for the wider Fijian economy. It will create more prosperity and put more money in the pockets of our people."
Meanwhile, Namara Trust representative Nemia Builoma, commended the Fijian Government for the initiative in developing i-Taukei land as it would assist them and other landowning units.
He also urged other landowning units to come forth and make use of the initiative.
To read more of the PM's speech please click on the link:
https://bit.ly/3RTzJBr