With the Tuvatu Alkaline-Gold project taking shape, Sayed-Khaiyum says a lot of other developments will take place, so the landowners need to be wary of the lease arrangements. [Source: Fijian Government/ Facebook]

Minister for Economy Aiyaz Sayed-Khaiyum has urged the landowning owning units in Tavua to get the right valuation of their land before leasing them out or subdividing them for other developments.

With the Tuvatu Alkaline-Gold project taking shape, Sayed-Khaiyum says a lot of other developments will take place, so the landowners need to be wary of the lease arrangements.

He reminded the landowners to think long-term and get the right market value as required under the Fijian Constitution.

“Some people are still thinking the old way. The land value maybe – they need to pay you maybe $100, 000 a year lease money, they maybe only paying before $5000. They will say don’t worry we will give you some jobs or we will build a community hall, and you say oh! Vinaka.”

Sayed-Khaiyum further explains there are two types of payments that the landowners must get.

“Like if I am getting a 99-year lease, you have to pay a premium. What is the value of the lease? Then the other value is how much I have to pay every year in lease payments.”

He stressed that the iTaukei Lands Trust Board must get the right market value for all land before it is given for lease.

This rate is reviewed every five years.