SUNBIZ

FreeSoul Real Estate Tells: What We’re Planning On Malolo Island And Why

The owners of FreeSoul Real Estate Development Pte Limited are local investors and business people of Chinese origin. The financiers for the project is BVI Consortium (British Virgin Islands Consortium).
16 Feb 2019 13:08
FreeSoul Real Estate Tells: What We’re Planning On Malolo Island And Why
An artist impression of FreeSoul's development of Malolo Island. Photo: FreeSoul

Chinese investors have not taken Prime Minister Voreqe Bainimarama’s invitation to invest in Fiji lightly.

This rings true for FreeSoul Real Estate Development Pte Limited, the centre of recent controversy and allegations about not following proper processes on Malolo Island in the Mamanucas.

This includes allegations of not following Environmental rules before beginning groundwork.

They deny this.

They said even with the malicious opposition, FreeSoul has improved its compliance and analytical capability and capacity.

It has even received support from key stakeholders.

A statement from FreeSoul said: “Upon the invitation of Prime Minister Bainimarama to business houses including FreeSoul on one of his visits to China, he told investors: “Come. Come and invest in Fiji”.

“Increasing Chinese and Asian investment and tourist numbers is not impossible once infrastructures are built to suit their needs and absorb the world.

“This mooted the business idea of building a US$500m (FJ$1,064.03m) hotel in Malolo.

“Then, it sunk in that FreeSoul’s hotel in Malolo will be one the grandest tourism project on Malolo Island let alone the South Pacific.”

The owners of FreeSoul Real Estate Development Pte Limited are local investors and business people of Chinese origin.

One is known to already have invested in serious businesses in Fiji.

They are reluctant to release further details until the current issues are resolved, their lawyer Simione Valenitabua said.

The financiers for the project is BVI Consortium (British Virgin Islands Consortium).

 

An artist's impression of the FreeSoul development on Malolo Island. Photo: FreeSoul

An artist’s impression of the FreeSoul development on Malolo Island. Photo: FreeSoul

 

“FreeSoul found Fiji rated as one of the best tourist destinations attracting many tourists from around the world for vacation every year. China was the exception to the rule.

“Vital research was conducted and information gathered by FreeSoul to confidently venture into the Tourism Industry whilst understanding the contribution of it to the local economy.

“FreeSoul seriously analysed the state of the tourism market and immediately invested.

“FreeSoul was born and registered in Fiji on February 20, 2017 after Investment Fiji approved the venture, the approved three (3) principal activities of FreeSoul are:
1.Integrated Tourism Development;
2.Real Estate Development and
3.Real Estate Management.

Chief benefactors

For FreeSoul Inclusive tourism development is important because it means including the Chief benefactors – the iTaukei of the land and qoliqoli in the development. Where Pre-approval arrangements meant that they would receive more than FJ$1m of vanua development assistances in advance.

“FreeSoul spent around FJ$11m in preparation works, taxes, infrastructures and general assistances not only to Malolo but Gau and Taveuni too.

“Current local partners, consultants, overseas experts and staff number around 100 prior to commencement of construction but will potentially increase to 1000 plus once the foreshore lease is granted by Director Lands.

“Legal compliance was a challenge due to procedural ‘Chinese walls’ but necessary and achievable with the able assistance of key stakeholders – the Commissioner Western’s Office, the Lands Department, Department of Environment, Town & Country Planning, Investment Fiji, Lautoka City Council and the Roko Tui Nadroga & Navosa office.

About the project

“Currently, FreeSoul’s integrated tourism development sits on 61 acres of itaukei land through tourism leases acquired and almost 100 acres of crown foreshore land.

“It will include over-the-water bures, beach front lots and strata titled villas, all green energy efficient and sun shading.

“FreeSoul is ready to start construction once its approved foreshore lease is released by the court.

“FreeSoul’s holistic development runs from the “Ridge to the Reef” in line with the Global Goals 2030.”

 

An artist impression of the over the water bure being developed by Freesoul.

An artist’s impression of the over the water bures. Photo: FreeSoul

 

An artist impression of the beach-front lots. Photo: FreeSoul

An artist’s impression of the beach-front lots. Photo: FreeSoul

 

An artist impression of the strata-tilted villas. Photo: FreeSoul

An artist’s impression of the strata-tilted villas. Photo: FreeSoul

Future plans

The company is planning a further tourism development project in the Nausori Highlands plateau.

The statement said: “FreeSoul will design a product that will give tourists the experience of accommodation in the Nausori Highlands (FreeSoul Part 2 – Coming Soon).

“This provides free soul taking views of Nadi Bay, Nadi International Airport, Port Denarau and resorts in the Mamanucas, Yasawas and the island resorts of Treasure Island, Beachcomber, Bounty, First Landing and Anchorage Resort.

“At the same time enjoy the white sandy beaches of the island resorts.

“All for one and one for all. Not being discriminatory or self-centered but partnering with other tourism operators in Malolo. Ah, remember the Sunset!

Features of the hotel project

FreeSoul said: “Hilltop Deluxe Apartments, Hillside Apartments, Hillside Villas, Garden Villas, Tree House, Beach Villas, Water Villas, Specialty Restaurant, Function Hall, Spa, Lobby, Bar, BBQ, Children’s Playground, Aquatic Center, Tourist wharf and reception are just some of the construction masterpieces that FreeSoul will showcase in its Malolo tourism development.”

FreeSoul says Vina Du Riki to the TLTB Board under the leadership of the Prime Minister, the Executive Management and the Tourism Department in Nadi, for the confidence they have in the company.

“Their support towards the investment has been unwavering and has given confidence to FreeSoul.”

Feedback: maraia.vula@fijisun.com.fj

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