3 Aug 2005

Cook Islanders mustn't tear each other down over hotel plan, says developer

2:27 pm on 3 August 2005

The Cook Islands developer, Tim Tepaki, says that his two latest proposed projects for the Cook Islands have shown that, as he put it, Cook Islanders are their own worst enemies.

The Cook Islands News reports Mr Tepaki as saying the Unit Titles Bill currently before a parliamentary select committee is necessary to decrease risks for investors.

Mr Tepaki stands to benefit if the Bill is enacted, enabling investors to be able to hold titles to portions of the buildings without owning the lease of the land that it sits on.

The bill is aimed at Vaimaanga land in Rarotonga and Ootu in Aitutaki.

Mr Tepaki, who is currently in Rarotonga with the head of the Investors Forum, Dan McEwan, says Cook Islanders must put their heads together and strive for the best.

Mr Tepaki says he is ready to move ahead with his projects once government approves the Bill.