More offers have come in from locals and overseas to place bids exceeding $41 million to purchase the Momi Bay resort project.
Auctioneer's, Real Estate Agency Bayley's General Manager Philip Toogood stressed that at yesterday's auction the property was not sold as the bidding stopped at $41 million and thus the property has been passed in until a much higher offer can be secured as the FNPF was not satisfied.
Toogood said FNPF is seeking more funds and they are now awaiting the new offers as negotiations continue with the bidders yesterday.
Toogood also stressed that the auction was conducted according to the rules and in a transparent manner.
It has been confirmed that FNPF executives are now contemplating their next step and trying to come to a figure which would be acceptable as the highest amount the current market can offer for the multimillion dollar project.
The FNPF has invested $80 million into the project.
More offers come in for Momi Bay
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