By: James O’Brien/OCCRP
Solomon Islands Prime Minister Manasseh Sogavare has recently come under scrutiny for his rapidly expanding real estate holdings, despite his modest salary. Over the past few years, Sogavare and his wife, Emmy, have built at least eight new houses in and around the capital city of Honiara. These properties, estimated to cost between $1.7 million and $3.2 million, have raised questions about the source of funding, as they appear disproportionate to Sogavare’s known income.
The largest of these properties, located in the hillside suburb of Tasahe, serves as the couple’s current residence. Other properties include high-end rental units in Lungga and Henderson. Satellite images and drone photos show the rapid development of these properties, with multiple houses constructed within a short period, surprising locals accustomed to a slower pace of construction.
This is not the first time Sogavare’s real estate dealings have raised eyebrows. In the past, controversies surrounded his land purchases, including a property bought with a mortgage supported by a guarantee from the Embassy of Taiwan during his second term as prime minister. Critics accused him of exploiting his political position for personal gain.
In 2018, Sogavare secured significant loans from BRED Bank, raising concerns about his ability to afford them based on his official salary. Financial experts note that his income as deputy prime minister at the time would have been insufficient to service the loans. Questions also arise regarding potential special treatment from the bank and the source of additional funds.
Despite these financial concerns, the Sogavares continue to expand their real estate portfolio, with rental income potentially exceeding the prime minister’s official salary. While the origin of funds for their construction projects remains unclear, their properties now generate substantial revenue, raising further questions about their financial activities.
Transparency International and other anti-corruption advocates are calling for accountability and transparency regarding the Sogavares’ wealth and the financing of their real estate ventures. BRED Bank declined to comment on the matter, citing client confidentiality. As scrutiny intensifies, the prime minister faces growing pressure to address concerns about his wealth and financial dealings amid the upcoming elections.