9 Aug 2010

Benefits for all in Fiji land bank scheme - business leader

7:29 pm on 9 August 2010

Fiji's Chamber of Commerce says landowners will benefit the most from the subdivision and development for commercial purposes of unused land on Kia Island.

Landowners have given the government consent to administer the subdivision on the 26-hectare island located off Vanua Levu's northwest coast.

It follows the interim regime's Land Use Decree from earlier this year, which established a land bank in which landowners can deposit land that isn't in use, and investors can register their interest in developing it.

Peter Masey says it's a win win situation for everyone.

"It was not being used and most of the landowners who had to move to Labasa or Suva to work and here's a way to generate income by giving it to government and government are actually acting almost like a real estate agent by finding a good prospective investor for the island, so its a win win situation for everybody."

Fiji Chamber of Commerce president, Peter Masey.