Venture to rake in $5m annually
EXPECTED to generate revenue of up to $5 million over a 12-month period, the Trinity Development Ltd (TDL) was launched in the village of Wainiyabia, Serua over the weekend.
The business venture, which belongs to members of the Tacini landowning unit, had in fact started operations years ago but had to unfortunately close after bowing down to external pressures.
TDL’s executive and Tacini landowning unit member Leone Nayacalevu said the venture began as Tacini Investment by his parents and after closing operations, they revived it two years ago.
Mr Nayacalevu said as one of the largest landowners in Serua, they had initially focused on logging but recently changed their business focus to a holistic approach.
“With the new venture, we aim to maximise lease income from subdivisions of residential and agricultural leases,” he said.
“We also intend to strengthen relations with stakeholders, the community and promote sustainable resource use encouraging other landowning units at the same time to pursue commercial ventures.
“Currently, we have developed 50 agricultural leases at the Waivunu backlands in Galoa, two low-cost residential subdivisions at the Wainivaga flatlands and high-cost residential lots at Taqove Bay Heights.
“Under the venture, we have also leased 30 lots for yaqona farms as part of the Rural Millionaire Yaqona Farm Scheme.”
Mr Nayacalevu said the name of the investment – Trinity Development Ltd — was derived from the three sacred beings of Christianity and the three landowning units within their yavusa of Toluga (only three).
Meanwhile, the business venture was officially launched by the Commissioner Eastern Josefa Navuku.