Australian property billionaire, Lang Walker, has already spent AU$90 million (FJ$140 million) on Kokomo Island resort’s first stage of development, The Australian newspaper reports.

The Walker Corporation executive chairman, estimated to be worth over AU$2 billion (FJ$3.13 billion), is expecting to spend a further AU$195m (FJ$305m) in the next three stages.

This would bring the total investment to around AU$300 million (FJ$450 million) capping one of the largest investments by an Australian in Fiji.

Being labelled as one of Fiji’s most exclusive private island resorts, it is set to officially open at the end of March next year.

It will have its own Twin Otter seaplane and helicopter to transport guests to the island.

Kokomo Island is slated to be a 16-hectare “paradise” and the first phase will offer 21 one-to-three bedroom villas and six luxury residences.

Mr Walker himself was at the Sydney-Fiji Trade Symposium two weeks ago and The Australian quoted him saying: “The natural beauty of the island and location captured my imagination.

“My main attraction to the island was its direct access to the Great Astrolabe Reef only metres from the shore, offering some of the best diving and snorkelling in the world.”

The Kokomo Island investment has been very much under the radar but has seen 200 jobs created and 90 per cent of the current workers on the previously abandoned island local Fijians.

The five-year project has needed “a lot of patience and money”.

But Mr Walker said: “Having developed properties for over 50 years, I have never turned down a challenge. The purchase of the island was the cheapest part.”

Fiji is still recovering from Cyclone Winston last February which killed 42 people and Mr Walker said the resort was built to withstand grade four cyclones.

Mr Walker said the resort was designed with “sustainability in mind” and used locally-sourced materials.

“We are dedicated to the natural preservation of the island, water and surrounding reefs,” he said.

Mr Walker built extensive infrastructure on the island and recently received approval for a VIP lounge and private hanger at the Nadi International Airport.

The March launch is “only the start of Kokomo Island,” he said.

“The vision is to create a unique, high-end island paradise that caters to the fast growing intergenerational market.”

Once open, the resort will surely add to the existing list of luxury high end accommodation offered to tourists by our tourism sector.

There will be numerous economic benefits spinning out of this not to mention a big addition to our foreign reserves.

Additional information: The Australian, Australian Financial Review

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