Yaqara has new backers
Thursday, August 30, 2007
YAQARA Group Ltd, the developers of the much-anticipated Yaqara Studio City, has entered into a contractual arrangement with an Australian development company, Resorts & Property International Ltd.
The partnership will give RPI a 25 per cent stake in YGL and could result in a capital injection of more than $100million once infrastructure works get under way.
YGL managing director, Lyndon Driscoll said apart from securing an interest in the company, the contractual arrangement also gave RPI sub-leases for the development of two, 200-room waterfront hotels at the Studio City site.Yaqara has new backers - Fiji Times Online