FNPF explains delay in Momi and Natadola Bay project
Taken from/By: FBC News Report by: Akosita Talei
The Fiji National Provident Fund has revealed that it did not have the necessary technical expertise in-house when they undertook the Momi Bay and Natadola Bay residential redevelopment project.
Speaking during a panel discussion in its second forum in Nadi this week , Assistant General Manager Member Services Alipate Waqaraiwai said this is one of the main reasons why the project was delayed.
Another hurdle it faced was the lack of interest shown by foreign investors on buying the unfinished project.
This pushed the need for the institution to complete Momi and with the inclusion of a new executive team with good technical capacity and knowledge that will focus on rehabilitating investments.
The first phase has been completed with the lagoon drained and expected to be completed by December next year.
Chief executive Aisake Taito adds they are also confident Natadola will be recovered in terms of residential leases that will be released soon.
The institution is assuring all Fijians it has the capacity to undertake the projects and ensure that their money is safeguarded.