Letters

Yaqara land

Written By : Utiko Nabunobuno Lautoka . In response to Eseroma Tuibua’s comments on the Yaqara development issue, I wish to remind him that such developments, especially by foreign investors
30 May 2008 12:00

Written By : Utiko Nabunobuno Lautoka . In response to Eseroma Tuibua’s comments on the Yaqara development issue, I wish to remind him that such developments, especially by foreign investors rely on security of tenure, as well as political stability.
Ten-year leases don’t guarantee that, neither does the political instability we have been experiencing over the past eight years (or so he says) because of the military continued interference in government matters.
On the other hand, landowners are beginning to realise they can diversify their investment portfolios. Investing on cane leases is becoming unattractive.
Real estate and hotel/property developments are the “in-thing”.
Oh that probably is why we had an increase in the Hotel Turnover Tax.



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