19 Nov 2010

Investors needed stability, says Fiji landowner

4:18 pm on 19 November 2010

A Fiji land owner says investors want to see stable government before making financial commitments.

Mohammed Shamim Khalil's property at Yaqara Mountain neighbours Fiji Water's bottling plant but he still can't sell after having it on the market for two years and despite a massive drop in the asking price.

He says his land has a natural aquifer, fertile soil, views and is newly zoned for tourist development.

"There are many other people who are in the same boat as I am in. They're trying to seek joint venture partners in their business or outright sales. And a lot of potential investors did say that they wanted to see stable government and new election. So hopefully we'll have elections definitely and it's a matter of wait and see."

Mr Shamim Khalil says the economy is bad and he needs the funds, so he's now asking for only 20 percent of the registered valuation.