Good news for the people of Navua and Pacific Harbour as Fiji’s shopping centre giant, Damodar Group has partnered with Yatulau Company Limited to redevelop Arts Village in Deuba, Pacific Harbour which was once Fiji’s premier cultural and Arts Centre.
In 2022, Yatulau established its new 5-year strategic plan from 2023 to 2027 with a key objective to partner with the right business parties to help grow Yatulau’s investment portfolio.
Chairman of Yatulau Company Limited, Viliame Leqa says teaming up with the Damodar Group is very crucial, as they are not only one of the largest property investors in Fiji but also a proven brand.
He says everybody knows about Damodar City shopping center brand as this is truly Fiji-wide after their expansion in Labasa.
Yatulau also plans to expand its investments throughout Fiji and the joint venture will no doubt be a catalyst for this move.
Leqa also stated that Yatulau’s flagship property, Yatulau Arcade, will undergo a major upgrade and refurbishment, commencing in January 2024 and will be completed by December 2024.
He says the Arcade will be redeveloped to modern standards with a mixture of current and new tenancies whereby, they intend to invest around $8 million in the upgrade project.
Meanwhile, Chairman and head of the Damodar Group, Dayanand Damodar says it was always one of his goals in life to forge a partnership with an Itaukei entity as the Itaukei community has been part of his life ever since his parents opened up a drapery shop in Rakiraki.
Damodar says in terms of the Arts Village he strongly feels that Fiji needs to look at tourism as having 2 target markets and need to see locals as tourists because they also need leisure and entertainment.
He says the key market for the re-vamped Arts Village will be Nausori-Suva-Lami population however, those along the Sigatoka coast or those passing by from Lautoka or Nadi, will enjoy the new Arts Village once it is redeveloped.
He says the Damodar property team has prepared a master plan that will see a variety of local and offshore tenancies and other new exciting activities as the team will be providing further updates in due course.
The center will be redeveloped and opened for business in phases commencing from the 1st quarter of 2024 while, the final phase will be completed by the 2nd quarter of 2025.
Damodar says they want to recreate an educational experience in areas of culture, arts and Fiji’s wildlife, which we need to preserve and promote.
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