‘Lazy Inactive Investors And Legacy Issues A Big Problem’
“Most of Walu Bay is owned by companies that do nothing. Walu Bay looks like a dump.”
Tuesday 13 September 2022 | 13:39
Harcourts chief executive officer, Shivas Singh, left, with Construction Industry Council member, Setoki Tuiteci, during the 2022 annual conference at Warwick Fiji, Coral Coast. Photo: Frederica Elbourne
Properties owned by “lazy inactive investors” were among concerns that the real estate lamented, a leading industry spokesman has said.
Harcourts chief executive officer, Shivas Singh, said the situation was compounded by property disputes interlaced with legacy inadequacies.
In his address at the 2022 Construction Industry Council annual conference at the weekend, he said: “Most of Toorak is looking like a dump.”
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“There are cases where the father has died, did not leave a will, all his six children are living in the house, no one wants to invest, those offshore want to sell, and those living in the house don’t want to sell – because where will they move to.”
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