The iTaukei Land Trust Board (TLTB) has dismissed claims made during the Fijian Media Association Town Hall in Tavua regarding the renewal of a commercial lease to Prakash Properties Investment Limited, calling them “unfounded and misleading.”
The statement was issued in response to remarks made by Mr. Tevita Ralulu of Mataqali Tilivasewa, who had questioned the renewal process.
TLTB said that while Mr Ralulu opposed the renewal, he did not represent the collective view of the mataqali.
In a statement issued today, TLTB clarified that the lease renewal was carried out “in full consultation with the landowners” of Mataqali Tilivasewa in February and April 2021, despite delays caused by COVID-19 restrictions.
“The renewal process was conducted in full consultation with the landowners,” TLTB said.
“We ensured that thorough consultations were held with the landowning unit before finalizing the new lease agreement.”
“It is important to note that Mr. Ralulu was the sole individual opposing the renewal and did not represent the collective view of Mataqali Tilivasewa,” the Board said.
According to TLTB, the majority of landowners supported the renewal but raised concerns about their financial capacity to compensate for property improvements on the leased land — estimated to be worth approximately $3 million.
“With the establishment of the iTaukei Wealth Fund, landowners now have the opportunity to purchase and compensate for improvements on leased land,” TLTB explained.
“This includes examples such as Mataqali Ekubu’s recent acquisition of a commercial property in Sigatoka Town and other mataqali in various towns.”
TLTB also confirmed that two other commercial leases on iTaukei land in the area will not be renewed upon expiry. The properties will revert to the mataqali, with improvements to be compensated through the iTaukei Wealth Fund.
“This initiative is part of advancing landowners toward becoming property owners in town centres,” the statement added.
The Board said the renewal of the Prakash Properties lease represents “a significant milestone” in maintaining economic activity and development on iTaukei land while ensuring that the interests of landowners are protected.
“This renewal marks a significant milestone in maintaining economic activity and development on iTaukei land while safeguarding landowner interests,” TLTB said.
