aNadi Town Council is in the process of developing a new commercial complex in the Jet-set town in partnership with Maisuria Design Limited.
The Project will be the first private-municipal partnership under the BOOT (Build, Own, Operate and Transfer) concept.
The Project, estimated to cost $F 150,000, will be privately funded with no cost to the Council.
Developer Hemant Maisuria said the Council has provided a triangular plot between the Nadi Market and the Bus Stand.
Construction work, scheduled to begin in March, will be completed in 12 months.
“At the moment, that space is earning the Council about $F 50,000 annually, but with new complex will accrue $F 150,000 a year, apart from an additional income of $150,000 as lease payment,” Mr Maisuria said.
“We will build, own and operate it for a period of 25 years. Thereafter, the property will be transferred to the Council. This is the first project of such a scale in Fiji.”
The first floor of the Complex will comprise seven shops, supermarkets and a food court.
Mr Maisuria said the firm would welcome environmentally friendly designs, with natural ventilation, rainwater harvesting, and solar power for lighting.
“We are keen to make this a model Complex for future buildings,” he said.
Nadi Town Council Special Administrator Aisea Tuidraki said the development deal was a milestone for the Council and the Government.
“The Ministry has been thoroughly briefed on this development and the Government is happy that such a deal was possible,” he said.
By Arrangement with The Jet (Community Newspaper)
