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Land Bank

A land bank has been set up through which native owners can allow government to use their property for development purposes and on-lease it at market rates, Prime Minister Commodore Voreqe Bainimarama has announced.

Potential investors and farmers can sub-lease or lease land from the State for a period of up to 99 years from the land bank.

The land bank is officially known as the Land Use Unit and is established under the Land Use Decree 2010.

The unit will only use land that has been designated by native titled landowners, from whom consent will have to be obtained.  The long processes and the delay to finalise leases frustrates applicants and therefore reduces the development of the economy in general.