A mataqali in Sigatoka has taken over the lease on a commercial property in town and is set to earn $36,000 monthly from its rental.
The iTaukei Land Trust Board (TLTB) handed over the registered lease to Mataqali Etuba Holdings Ltd. TLTB chief executive officer Tevita Kuruvakadua said this was a good achievement for the landowners.
“They have now realised the importance of investing their lease monies in such a sustainable project to boost their income and improve the livelihoods of the members of their mataqali,” he said.
Mataqali Etuba, a landowning unit of Yavulo Village, Tikina Nasigatoka, in Nadroga requested the board not to renew the commercial property lease and for them to takeover once the lease expired.
At expiry the landowners decided to compensate the tenants following all TLTB processes and procedures.
The total amount of the compensation was settled from a portion of the landowners’ lease Mataqali Etuba and are now working with TLTB to buy other commercial properties once their leases expire.
