Facelift to Start from April 1

IT WILL TAKE ABOUT 60 WEEKS FOR THE $8 MILLION INVESTMENT TO BE COMPLETE

Most of the business tenants of the iconic Yatu Lau Arcade have already moved out of the property following the announcement that redevelopment works were set to officially start on April 1.

Talks of the redevelopment date back to 2022 however, Yatu Lau Company Limited deputy chairman, Ratu Meli Saubulinayau, acknowedged BSP for enabling the works to finally go ahead.

The investment is more than $8 million.

During a press conference on Friday, Ratu Meli said: “The Yatu Lau arcade is not just a place to shop, get a haircut or buy your dress and have tea and bun, or have a gathering among your friends and families.

“We thank the Bank of the South Pacific for their support in providing us with the loan that will enable us to further grow and expand our business; also [we thank] the local authorities for their support in this project,” he said.

Company chief executive officer Ana Delailomaloma said the Yatu Lau Arcade will close from Monday. “Tenants were given a year’s notice and then we started giving them every quater and every month we have been visiting them and urging them to pack up,” she said.

“Some of them have moved out and found places to go to and there are still some others who will be moving out this weekend.”

Yatu Lau Company board member and iTaukei Trust Fund Board’s chief executive officer, Aisake Taito said the Yatu Lau Arcade was one of the many projects that they were delving into as part of its Strategic Planning projects. “There are other properties we have somewhat redeveloped like the Studio 6, now called the Yatu Lau Hotel conference, then the Arts Village at Deuba which is a partnership between Yatu Lau Company Limited and Damodar and the Lagoon Resort which will be rebranded to Yatu Lau Lagoon Resort,” he said.

“The renovations will take about 60 weeks to complete; we’re really happy to be moving forward with this.”

And while the renovations carry on, Ratu Meli said some tenants would remain in operation.