Provincial Trust Acquires New Property

Oct. 3, 2017, 6:01 a.m.

Provincial Trust Acquires New Property

Major plans are in the pipeline for the Bose ni Momo ni Yasana ko Ba Trust, which recently acquired a new property in Samabula, one of Suva’s busiest urban, residential, and commercial wards.

The new purchase straddles the corner of Matuku and Totoya Streets, with a Crown lease covering about 1,950 square metres.

“The property is being transferred from the Salusalu Ba Trust to the Bose ni Momo ni Yasana ko Ba Trust,” confirmed the secretariat of the Bose ni Momo.

The Trust is the development arm of the Bose ni Momo, which is made up of 24 district chiefs and traditional, indigenous leaders within the Province of Ba, Fiji’s second largest province covering a land mass of approximately 2,634 square kilometres.

“The BNM Trust had already approved of a master plan to construct a building on the site, and this will incorporate office spaces, retail areas, residential apartments, function and conference support amenities and a dormitory facility for students from the province studying in Suva, as well as a car park area in the basement”.

The development is expected to cover a total floor area of about 8,112 square metres and will be managed by the Ba Provincial Holdings Company, which owns Koronubu House in Ba, Tavaiqia House, Rororogo-i-Vuda House, Vidilo House and the Lautoka Magistrates Court building in Lautoka, and Nauliano House in Nadi.

Ba Provincial Holdings Limited was established as a private entity in 1995 by the Ba Provincial Council, with its initial investment centralized in real estate developments, particularly in office accommodation. It has since diversified into shipping, security, construction, education and land development, with sights sets on tourism and agriculture.

Last year it acquired Matanakilagi House along Drasa Avenue, Lautoka after successfully winning its tender from former owners, the Fiji National Provident Fund.

It acquired the property for FJ$1.4 million and noted its ideal location for a national statutory body, modern offices, training institute and even modern apartments with upgraded facilities, as the double-storey property had a commercial Crown lease with a rentable space of 10,712 square feet.

Current tenants include the Lautoka Police Station.

Additionally, Ba Holdings manages language school, the Ba Provincial Free Bird Secondary Institute, in Lautoka.

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