Riya Bhagwan 
[Photo: Supplied]
One of Fiji’s most prominent business groups is further expanding its property development footprint through a new partnership in Nadi.
The Damodar Group and Y3 Kofera Trust, a Fijian landowning trust, have signed an MOU to explore the development of about 130 acres of customary land near Denarau Island.
The partnership brings together Damodar’s commercial development experience and the land assets of the Yavusa e Tolu.
The parties say the proposed development will respond to growing tourism and commercial demand in the Nadi area.
Initial due diligence will now begin to determine the site’s development potential and the most suitable concept.
The project could include commercial and tourism-related development, although the final concept has not yet been decided.
The parties will also determine the structure of their proposed joint venture following the due diligence process.
Y3 Kofera Trust represents the Yavusa Navatulevu, Yavusa Sila and Yavusa Yakuilau, which hold customary rights over land in the Nadi delta.
The Trust says the partnership will allow its landowners to participate directly in the long-term commercial use of their land.
It also expects the development to create employment and provide long-term economic, welfare and education benefits for beneficiaries.
Environmental assessments, master planning and consultations with relevant authorities will follow the initial due diligence.
The parties say further details will be announced once the development concept and joint venture structure are finalised.
