NEWS

$500m Chinese Hotel Project To Start Soon

Wyndham Silkroad Ark Fiji Hotel developers are optimistic that they will commence the development of the project next year. The groundbreaking ceremony for the $500 million project on the Coral
25 Nov 2017 14:07
$500m Chinese Hotel Project To Start Soon

Wyndham Silkroad Ark Fiji Hotel developers are optimistic that they will commence the development of the project next year.

The groundbreaking ceremony for the $500 million project on the Coral Coast took place in August last year.

Guangdong Silkroad Ark Investment (Fiji) Co., Ltd Haolin Li said: “After the groundbreaking ceremony, one thing that was holding the project up is the foreshore lease.”

Mr Li said they were still waiting for the foreshore lease approval from the Land Department.

But the Minister for Industry, Trade and Tourism, Lands and Mineral Resources Faiyaz Koya said: “We are in the final stages of some paperwork that needs to be done, that is what I have been informed then we’ll start with construction.”

Mr Koya said Wyndham Silk Road Ark Fiji Hotel developers had applied for the foreshore and the native lease.

The developers believe that the project is going to promote the demand for traditional art and craft, agricultural and other products from surrounding villages, and create more than 1000 employment opportunities.

The plan is to build 300 hotel rooms (villas and apartments) equipped with luxurious facilities, such as water chalets, clubhouses, gymnasiums, bars and so on.

About the project funding

It is understood that this project is one of the very first projects that has started under the Chinese Government’s “One Belt One Road” initiative.

Under this master strategy the Guangdong Provincial Government developed the New Silk Road Strategy.

It is primarily focused to increase international co-operation between China and its trading partners, around the world including the Pacific.

In line with this, the Guangdong Province has allocated a sum of US$2 billion (about F$4.13 billion) for investments in the Pacific over the next five years.

This $500 million investment will be financed by the company.

Edited by Ranoba Baoa

Feedback: maraia.vula@fijisun.com.fj



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