COUP COSTS FIJI’S ‘STUDIO CITY’ PROJECT INVESTORS 

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COUP COSTS FIJI’S ‘STUDIO CITY’ PROJECT INVESTORS

SUVA, Fiji (Fijilive, Dec. 23) – The multi-million dollar Yaqara studio city project on Fiji’s Viti Levu island lost almost a hundred potential investors as a result of the December coup last year, Yaqara Group Limited's executive chairman Mark Falzon reveals.

Falzon told Fijilive that from its investor-hunt in the past two years, it managed to put in place a number of relationships and parties interested to support the project in one form or another.

Among investors who have put their interest on ice, he says include three or four of what could have turned out to be very strong deals for the project, described by critics as a pie in the sky.

Falzon said the company agents went to Hong Kong, China, Dubai, United Kingdom, United States, New Zealand and on an extensive search in Australia.

He said the company's agents were looking for investors in Japan.

"We have been doing that now for virtually two years. We spent a lot of time and a lot of energy looking for a combination of things, either for investors, joint venture partners, developers or potential sales and distribution agencies internationally that will be interested in distributing some of the products," Falzon says.

He said during the first nine months into that, YGL "successfully" established a number of relationships and parties.

"…These people were very interested in the project and had indicated to us they would support the project one way or another – either through distribution, investment or development.Then as a result of the political situation towards the end of last year, virtually all the interests just evaporated, which was disappointing. I am not sure what their contribution might have been but I think the potential of them would have been substantial," added Falzon

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