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Hexagon Group’s Multi Million Dollar Investment Taking Shape

Hexagon Group’s Multi Million Dollar Investment Taking Shape
October 04
15:51 2014

The Hexagon Group of Hotels is venturing into its biggest property development in Fiji with the development of Yadua Bay Resort and Villas at Malaqereqere, near Sigatoka.
With 68 residential lots and a high end resort, this development is set to give Fijians, returning Fijians and overseas investors an opportunity to own a piece of Fiji.
Group Managing Director Dixon Seeto said these villas are only a five minute drive from Sigatoka Town and the Shangri-La’s Fijian Resort and 20 minutes from the Natadola Beach and world class golf course.
With elections now behind us, developments and multi-million dollar investments such as these are coming up in numbers.
For the Hexagon Group, they have already invested more than  $7 million in this development.
This includes all underground facilities such as electricity, gas, communications, water, sewerage lines and the roads leading up to and accessing the lots and hotel site.
Mr Seeto said this was an opportunity for those investors who are looking for a return on their investment.

The project
Interest has already been expressed by various hotel chains including Best Western, which is already involved with three out of the four Hexagon properties, to brand the Yadua Bay Resort and Villas under the quality Best Western brands.
Out of the 68 residential lots, the Group has already sold off a number of lots for which individual 99 year crown leases have been issued.
Those who purchase lots on the property will need to build their properties according to the design and standard of the Group.
Owners will always have the opportunity of leasing their homes back to the Group for Resort inventory.
Land and building packages including fully furnished options are also available for those who want a hassle free turnkey option.
Mr Seeto said while the project started in 2008, there had been minor hiccups however, he said, these were sorted out by the various Government departments involved with the project.
Locals have also showed keen interest in owning holiday homes, showing a stark departure from traditional spending patterns.
Most of the lots currently sold have been to locals.

Target market
Manager Property Development, Bimal Prasad (pictured explaining development), said their target market was those Fijians who could now return to Fiji taking advantage of the dual citizenship policy of the Bainimarama Government.
Also those expatriates who also wanted to get Fijian citizenship under the same policy.
He said they had noticed an increase in number of Fijians returning to their country of birth to invest in the tourism industry.
Mr Prasad said it was encouraging to see that locals were also coming out in numbers to invest heavily in property development and have a holiday home.
With a number of international chains showing their interest in managing the resort, the Hexagon Group is keen to partner with one which would have Fiji at its heart.

Feedback:  jyotip@fijisun.com.fj

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