SECURITY OF LEASES ON NATIVE LAND

The Native Land Trust Board is the only authority that is legally empowered to issue a valid and legally enforceable lease on any native land in the Republic of Fiji. Such leases have been issued under the provisions of the Native Land Trust Act. Since around 88% of the total land area in Fiji is classified as native land, this assurance is important for investors, bankers, tenants, landowners, and all other stakeholders of native land in Fiji.

This comment is considered necessary in light of recent commentary regarding the Yaqara Studio City project. The NLTB reconfirms that it has already issued a 99-year lease on this land that gives the tenant, Paradise Entertainment Limited usage rights over the land for the next 99 years. These rights and the obligations that go with them are specified in the lease document.

K BAKANI
GENERAL MANAGER