SUNBIZ

Grand Fijian: A Monument Of Fijian Pride

The construction of the 120-metre high Grand Fijian in Suva will be a monument of national pride, say project design principal and owners, Sharma Design Group Limited. The hotel will
13 Sep 2014 10:43
Grand Fijian: A Monument Of Fijian Pride
The Wainavida Crossing which will close this Sunday, February 24, 2019.

The construction of the 120-metre high Grand Fijian in Suva will be a monument of national pride, say project design principal and owners, Sharma Design Group Limited.

The hotel will boast two types of accommodation, that is, hotel and apartment.

Principal designer and managing director of the Grand Fijian Vijay Sharma said the development is structured in such a way that most of the funding would be derived from the unit sales.

“We envision there will be 77 owners buying the units in the developments, so based on their ownership, the development funding will be sourced,” Mr Sharma said.

“The way we are doing our financial planning is that most of the money is going to be recycled from our economy.

“We feel that a lot of money is sitting idle in the banks and not doing anything.

“So we are providing that vehicle where people will invest in the unit for the reasons of owner occupying, for the reason the owner leasing it, for the reason of putting it back into the pool for the hotel to manage.

“Frontier Investment Limited, a locally-owned company, would be the promoters and developers of the Grand Fijian.”

Hotel aspect

On the hotel component side, Mr Sharma said operators will be announced later.

Upon completion, however, the brand will be managed by a corporate body known as The Grand Hotel & Spa Limited.

The entire development is estimated to be $110 million.

Mr Sharma said the ideal structure will once again put Suva as the main hub of development in the country.

“We have got a vision and we are the ones at the moment who have got this passion to drive it,” he said.

“Generally we think Suva is very tired with this real estate that we have so I think there has to be a renewal.

“We are quite grateful of the attitude change from the planning authorities who are now allowing us to build tall buildings. I suspect the demand is dictating that.

“We’re trying to bring the heart back into the city. So we’d like to see a life during 24 hours and we’ve got a community in a vertical building.”

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