Housing Authority Tacirua East Stage 2

• NLTB is honored to facilitate and have now finalized one of the largest land acquisition by the HA aimed in fostering urban development in the provisions of affordable land for housing. And this is in line with the Board's vision, "to provide quality services with significant economic benefits for its stakeholders" - the HA, proposed new tenants, and in particular landowners

• The area covered within this deal is approximately 161 acres for a development lease over a 10-year period. In addition to the $1m pay out today, the landowners will continually receive approximately $28,000 a year in lease rental.

• At the end of the development period and disposal of the lots by the HA, this will on average generate rental income of approximately $200,000 annually to the Board and the Landowners. This is from an estimate of 1000 residential lots and its related infrastructure after the development.

• In line with the Board's corporate plan, we will "Create and market economical products that meet stakeholders requirements". Therefore this is not the end of the road between HA & NLTB but a beginning of another new era in joint participation in business to create land for housing development. The Board will work closely in partnership with the HA to open up all areas that are ripe for residential development not only in Suva but in other urban centers in Fiji.

• The Board is committed to see these developments through, not only as a landlord, but also, in the best interests of the relevant stakeholders and the economic development of the nation as a whole.
  
  
  

  Vinaka

  STabakanalagi
  Deputy General Manager (Operations)