Momi development to start next year
November 22, 2012 6:03 pm
The Momi Bay development project is back on the agenda for government as it tries to better the affairs of the Fiji National Provident Fund.
Prime Minister Voreqe Bainimarama says the FNPF continues to look for new investments and opportunities that will provide better returns.
As such…the Momi Bay Resort development will commence next year.
“I’m pleased to announce that stage one of the Momi Resort development, will commence at the beginning of the second quarter of 2013. Accordingly, FNPF will complete the development of the resort with an estimated investment of $150m. Government of course will assist this initiative by ensuring that this project is completed expeditiously.”
Government has also announced that it will sell its overseas mission properties to FNPF and then lease them back.
“This will provide FNPF off-shore investment opportunities with attractive and sustained returns while reducing the operational returns for government.”