Apenisa Waqairadovu 
[File Photo]
Trade Minister and Deputy Prime Minister Manoa Kamikamica has confirmed that two proposed multimillion-dollar projects by Pacific Towers will not be going ahead.
Late last year, Construction Industry Council President Jon Orton said that the multimillion-dollar company was planning on constructing a hotel and an apartment in the heart of Suva.
It’s believed that Pacific Tower was planning on a 12-story hotel and a 10-story apartment.
Kamikamica says the owner of the company was retiring and was choosing Fiji for another investment; however, his family has other plans.
“I had a good discussion with the owner of Pacific Tower; he was in his late 70s, so he was on the verge of retirement, and whilst the business was still operating, he was told by his family to plan for his retirement.”
The Deputy Prime Minister says that the family business was also sold, and the buyer has chosen to take the business to Asia.
Kamikamica stresses that while this investment did not fall through, it was understandable, and this does not affect investor confidence.
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