The company will list on the South Pacific Stock Exchange to create opportunities for direct participation in the Yaqara City project for those individuals, local communities and industry practitioners wanting to invest in their own future.

The company's vision for the Yaqara City encapsulates a new direction for Fiji; a direction that promotes government's desire to build a sustainable and exciting way forward for the country, and, one which recognises and rewards creativity.

The company's commitment to building relationships with shareholders and stakeholders began when key partnerships were formed six years ago with government, the Native Lands Trust Board an representatives from the Vanua surrounding Yaqara.

In its application of these convictions, the Company is focused on increasing community awareness of environmental issues and preservation of the Yaqara region's cultural and historical significance.

The company aims to bring together creativity, skills and talent and find new ways to bring about the convergence of cultures, communities and industries, providing a guiding light, a map for future progress and the realisation of a united vision.

Best Practice Policy

The expression 'best practice' represents a series of concerted, transparent strategies, which the company's board and management have employed in the pursuit of excellence in terms of development of the Yaqara City.

The company is committed to pursuing 'best practice' in matters relating to:-

• the environment;
• the built form;
• management practices;
• social and human responsibilities;
• responsibilities to shareholders & stakeholders.

Environment

As part of its lease agreement with the landowners and government, the company is bound to employ environmental 'best practice' in the development of the Yaqara City. In doing so the company has adopted a statement of policy for environment 'best practice' that will be reviewed for improvement on a regular basis.

As trustees of the site, the company is focused on the promotion of permanent preservation of lands, cultural and historic sites, places of interest or natural beauty for the benefit of Yaqara City residents, the local community and the people of Fiji.

The company recognises its responsibility to protect and preserve the environment and strives to:

• Minimalise damage caused by human impact on the immediate environment;
• Protect long-term interests and investments from environmental damage;
• Create new benchmarks for environmental 'best practice';
• Pursue net environmental outcomes beyond sustainable;
• actively monitor and review environmental impact from development.

The Built Form

Critical to the success of the Yaqara City is the shaping of a place of inspired, creative excellence and the built form is a vital part of this outcome.

The company will formalise its commitment to these principals for landscape design, architecture and sculpture by introducing 'best practice' guidelines and caveats on sub-eases for tenants and by providing economic incentives to investors.

By 2005, the company expects to have put in place a series of initiatives that will include:

Architectural

The establishment of architecture prizes for the following facilities:-

• A multi purpose building or house of worship;
• An archive facility for cultural and historical works from the region;
• A public and commercial library &museum;
• Higher education learning facilities for audio visual production and fine arts

Landscape Design

The company has allocated substantial open spaces in its town planning, utilising the principal of 'open view and energy corridors'.

The development of open spaces in the Yaqara City will be subject to best use policies for landscaping, planting and design. Tenants will be encouraged to pursue design and implementation strategies. By 2005, the company will have implemented a policy to encourage excellence in the development of the natural landscape.

Sculpture Garden

The company also recognises the commercial and aesthetic value of large-scale outdoor works of art and intends to launch an annual competition to attract local and international sculptors to the Yaqara City to undertake the development of a 'sculpture park'.

Management Practices

In pursuit of excellence and accountability, the company has adopted a 'code of conduct' for its board and executive management.

Social & Human Responsibilities

The company recognises its social and human responsibilities as developer of the Yaqara City and its impact beyond boundaries and immediate precincts. To date the company has commissioned a Regional and Environmental Management Plan and through the establishment of the Vanua Trust, remains aware of the need to develop an on going policy that is open to review regarding its impact and appropriateness.

Responsibility to Shareholders & Stakeholders

The company's responsibility to shareholders is to maximise returns and capital asset growth, balanced with a philosophy of 'best practice'. For stakeholders including Fiji's land owners, citizens and residents, employees and tenants of the Yaqara City and its surrounds, the key issue is density of development. The company aims to adhere to a 'balanced' development philosophy, embraced and implemented through strict control of land use.