The agreement will see the landowners obtaining a Land Title and receive rental payments for their land.
The landowners have given up 16 portions of their land to be developed into another a housing estate.
The agreement was signed today by the Lands Minister, Justin Tkatchenko and Chairman of the Kuriu ILG 313 and Principal landowner of the Oho-bi-du-duare land and other members of the ILG.
The Lands Minister said this signing sets precedence to other ILG groups in central Province.
He said if the landowners want to develop their land, they should not be kept waiting for too long.
“This will enable the customary land to be bankable and be accepted by the banks so the investors can invest more, build more but with the local landowners.
“They will benefit from long term benefits of their land and their customary land will have a title, a 99 year title for the different portions of land going to be and have been developed already.
Chairman of the Kuriu ILG 313 and Principal landowner of the Oho-bi-du-duare land, Inogo Gabe thanked everyone involved in the process that has led to this signing, notably the National Research Institute.
“At the moment we have 16 portions of land, fully surveyed and registered and occupied by various developers.
“They wanted state lease so that they can produce what they are developing.
“We want to thank Honourable Minister for having a focus to see the customary landowners point to take part in developing our land.”