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Joint Venture To Lift Image of Nausori Town

A Nausori Village mataqali (clan) has entered a joint venture with a Chi­nese company to build a multimil­lion dollar commercial and tourism devel­opment complex in Nausori Town. This is the
05 Jan 2019 11:00
Joint Venture To Lift Image of Nausori Town
Mataqali Nailagobokola leader Ratu Lepani Tagicakibau, second from left, and Ratu Rusiate Kaibau at the site of the proposed five-storey development complex. Photo: Maraia Vula

A Nausori Village mataqali (clan) has entered a joint venture with a Chi­nese company to build a multimil­lion dollar commercial and tourism devel­opment complex in Nausori Town.

This is the first attempt by the mataqali Nailagobokola to embark on a major com­mercial project and introduce clan mem­bers into the business world.

Zhong Fei Nausori Development Pte Lim­ited, a joint venture between the two parties, has plans to construct a five-storey complex on the Nausori old bus stand site.

The joint venture is between Ding Jin Real Estate Development and Nailagobokola in­vestments Fiji Ltd.

The proposed development complex will include: Tourist accommodation units (2nd and 4th floors), retail shopping, restaurants and functions area (first floor), supermar­ket, bakery retail shops and car parking spaces (ground floor).

Mataqali Nailagobokola leader Ratu Lepa­ni Tagicakibau said: “We want to partici­pate in business, gone are the days where landowners just get lease money.

“We as landowners should enter into busi­ness like joint ventures and develop our land just like this investors are doing.

“We were so disappointed with some local companies, (most of them are fam­ily based) whom we visited and asked if they were interested in a joint venture on this project they all said no.

“Most of us have changed our mind­set and have under­taken business ven­tures because we need to grow and de­velop our land with investors.”

The land belongs to the Mataqali of the Nailagobokola.

“The land was the old Nausori Bus termi­nal and the lease has expired and they have moved to the new bus station site.

“After the relocation of the bus stand the shops across the road (from the old bus stand) were really disappointed because it moved the centre of the town to the new site.

“We then came in opened eateries and that brought people back here, and then we be­gan this complex project, which will cer­tainly bring a new face to Nausori.

Hopefully, this complex project will en­courage these building owners in Nausori to renovate or even start renewing their buildings.

“This has given us the opportunity to look for a joint venture to develop this site and help uplift the face of Nausori.

“We tried our local business houses and they were hard because they didn’t want to be in a part get the partnership part the ownership of the project

“And this Chinese company came over and we managed to secure this partnership where we have a part ownership in the joint venture.

“After this project is completed we may change the name to something that suites the Nausori.

 

“We have two storeys of shopping malls and the rest of the three stores we will be hoping to establish some hotel accommodation now that the Nausori Airport upgrade and runway exapnsion has started.

“The concept plan has been approved by the town country planning and we are working on a five-storey building like a one-stop shop.

He said that they hoped to spend around $15-20 million on this project.

He said their joint venture partner had brought in their own equipment like the cranes, machines and build­ing materials from China.

“They are serious about the project, and hopefully this will take nine to 12 months to build.

“Local employment created is around 10 but once the construction start we will have to hire more people.

“Right now we are getting the con­tainers from China with all the build­ing materials coming in and at the same time waiting for our traffic impact assessment report to be com­pleted.”

Feedback: maraia.vula@fijisun.com.fj



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