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Muslim League Gets Funds For Big Suva Property Development

Muslim League Gets Funds For Big Suva Property Development
From left: Hafiz Khan, president of the Fiji Muslim League, with vice-president Nisar Ali Ahmed at the Samabula Jame Masjid on May 28, 2018. Photo: Sheenam Chandra
May 31
10:00 2018

 

The Fiji Muslim League has secured financial funding for its upcoming project.

The project is the construction of a Waqf Commercial and Residential Complex project, in Nabua, Suva.

The Islamic Development Bank in Jeddah, Saudi Arabia has given the league a loan of $USD 11.6 million ($FJD 23.9 million).

“Its funding is based on a system called Waqf, which is trust money that they hold, and this we have to pay over 12 years with a small amount of fees,” said Hafiz Khan, the president of the Fiji Muslim League.

“We are very fortunate that the Islamic Development Bank is funding outside the fraternity of the member countries of the Islamic Development Bank.

“In Fiji, where the Muslim population is a minority, an exceptional provision has been made by the bank to give loans.

“This will help in our educational and welfare work in the years to come. Not only in Fiji but also in Pacific Island countries,” Mr Khan said.

Mr Khan said the land which is owned by the Fiji Muslim League, would be developed into residential and commercial lots and would be sold off with a 99-year lease. The money that is gained through this sale would be utilised for road construction and civil work. This road will provide access to King’s Road and Mead Road.

“We are working very closely with the Government to assist the existing squatters. We will move them most probably to the land which we had allocated to them in Waidra, Baulevu in Nausori.

“Some residents may occupy other housing settlements, but most of them will move to Waidra,” Mr Khan confirmed.

“We have 18 months’ time within which we have to move so time is of an essence,” he said.

“We not only need to have the relocation done but also the building has to start to honour the arrangement,” said Mr Khan.

The starting date of this project depends on the relocation of the residents in the squatter settlement. Six to nine months has been allocated for the relocation period.

The construction of the residential and commercial complex will be completed within 12 months.

“Its new money in the economy,” said the league’s treasurer, Nisar Ahmed Ali.

The executive education officer of the Fiji Muslim League, Mohammed Shamim Ali said this development project was not only for this present generation but also for the future generation, not only for the Muslim community but for other ethnic communities as well. Edited by Mohammed Zulfikar

Feedback: sheenam.chandra@fijisun.com.fj

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