Two months of talks has not amounted to much in the troubled Momi Bay project as its first mortgagee, the Fiji National Provident Fund, is still without a buyer.
FNPF chief executive officer Aisake Taito told Fiji Live last week that negotiations were still ongoing, as the pension fund tries to sell the project following its unsuccessful auctioning in late August.
“We are still going through the process of negotiating with those that are interested. At the moment, there are about three that are interested, both from local and overseas,” Taito said.
The August auction saw the highest bidder - at a VAT inclusive F$41 million - failing to make the reserve price set by FNPF.
Since then, the fund has been trying to get the interested parties to put in a higher offer figure.
Taito said the FNPF will continue to try to get its price so negotiations are expected to continue.
He said FNPF had hired real estate specialists Bayleys International to market the project over a period of three months, and it is within this time-frame that the FNPF is expected conduct negotiations with interested parties.
