2 Nov 2009

Fiji NPF to take over Momi Bay Resort development

1:55 pm on 2 November 2009

The Fiji National Provident Fund says it is moving towards achieving full ownership of the troubled Momi Bay Resort development.

The announcement by Fund Chief Executive Officer, Aisake Taito, comes after the conclusion of negotiations with prospective bidders from the auction.

According to Fijilive, he says it will now move to complete the foreclosure process necessary to become the full legal owner of the property.

He says the project has substantial value and with its members' interests in mind, FNPF was never going to sell at a bargain price.