Landowning units (LOU) of Vatulele Island Resort are calling on Government to return their land so they can sublease to potential investors who are interested in redeveloping the site.
The land has remained idle for almost seven years.
TLTB general manager estate Isoa Tuwai said a notice had been issued to the current lessee and they were yet to decide whether to terminate the lease or not.
Speaking on behalf of the LOUs, Amenatave Veitamani said they were skeptical, especially after the lease ownership changed three times prior to the current lessee.
Now, the LOUs are pleading with the iTaukei Land Trust Board (TLTB) that the land be returned to them, which they would sublease to potential investors with interest in redeveloping the site.
“The three mataqali request that we lease our own land so we can sublease it to interested investors,” he said.
Mr Veitamani said they had also noticed discrepancies in lease payments over the years.
“The initial agreement with the first owner included provisions for employing local youths and making lease payments every six months.
“However, over the years, through ownership changes, those agreements were not upheld with discrepancies in payments.
“A few years ago, I had made a random visit to TLTB for our statement, and to my surprise, it was only $4 in balance.
“That’s how worrying this issue was; we were not properly compensated over the years.”
TLTB general manager estate Isoa Tuwai confirmed that the land was leased by Paradigm Group of companies CEO Ganendra Mangal Singh (Jay Singh).
Mr Tuwai said Mr Singh had leased the land from HFC Bank.
Previous owner Albert Bertini had faced bankruptcy, following which the land was placed on mortgage by the bank.
When asked about TLTB’s stance regarding idle land given that the land has been secured for over six years with no signs of development, Mr Tuwai said TLTB has issued a notice to Mr Singh, and they would await the deadline to ascertain the decision whether to terminate the lease or not.
“We are dealing with it slowly to ensure there are no more reports made,” he said.
“We are trying to caution the landowners to be patient with us because it is a legal contract, and it has to be terminated legally.
“They have to bear with us.
“We will ask our team from the west to follow up again, sometime this week.”
