The iTaukei Land Trust Board (TLTB) is actively working to tackle rent arrears while also enhancing land development efforts to benefit landowners. TLTB’s chief executive officer, Solomone Nata, shared these insights during a recent submission to the Parliamentary Standing Committee on Social Affairs regarding the TLTB 2023 Annual Report.
Mr. Nata acknowledged that outstanding rent remains a significant challenge for the organization. “Of course, we have rent arrears. This is one of the main challenges that we are facing,” he stated. However, he noted that the situation is improving, with rent arrears decreasing due to strategic measures aimed at bolstering rent collection. He reported that the outstanding rent initially stood at $27,000,751, but efforts in rent collection have led to a decline in arrears over the years.
In addition to addressing financial issues, Mr. Nata discussed the functions of the Estate Services Division, which oversees lease processing and land development projects. Under this division, TLTB successfully completed two significant subdivision projects last year that are now available for sale: the Vunitavola and Varavu subdivisions located in Ba. These subdivisions feature both tarsealed and gravel roads, alongside connections for power and water.
Mr. Nata explained that the board takes on the initial costs of development on behalf of landowners, which is aimed at securing long-term benefits for them. “We bear all the costs for the landowners, and these are ready for selling right now. We’ll recover the cost, and the landowners will receive a much better return from the practice of issuing individual leases for residential purposes in the area.”
Through these initiatives, TLTB is not only addressing financial issues but also enhancing land value and opportunities for iTaukei landowners, fostering a more sustainable return on their investments.
Leave a comment