A New Tourism Site For Wailoaloa

SUNBIZ

A New Tourism Site For Wailoaloa

Managing director and Partner of Bayleys Real Estate (Fiji) Limited, Philip Toogood confirmed that this development is being undertaken by the developer SVG at Wailoaloa. This is fast becoming one of the emerging tourism destinations in Fiji.

by charles chambers

06 Oct 2019 17:16

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Expressions of interest have been called for Long Beach, a 50-acre tourism development site at Wailoaloa in Nadi. It can cater for hotel development, beach club site, apartments and a retail and commercial area.

Further developments, due next year would be a residential housing site.

He said SVG is a Fijian company and the initials stood for the names of the three men involved with the development.

The sale is first being offered to locals before it is released to the international market.

The area is beside Palms Beach development on Wailoaloa Beach and will include two hotels or resorts, a beach club site, three tourist apartment sites and the retail and commercial site.

“It’s freehold and has a fantastic location,” Mr Toogood said.

“We are selling the hotel, apartment, beach club and retail and commercial sites first.

“We are keen to get the hotel development site going as soon as possible with the residential site by 2020.”

Mr Toogood said they were looking at the first quarter of 2020 to launch the residential site.

“We have already got considerable interest in the project.”

He says whoever bought the sites for the development would decide for themselves when to begin the construction.

Mr Toogood said there was no value attached to the development at present as this was a pre-tender notice.

“So the local market will get the first chance to look and buy if they like it and after a month we will then put it on the international market.

“Once we get expressions of interest we will then negotiate sales and take off after that.”

About real estate:

According to Bayleys: “With waterfront real estate becoming such a rare and expensive commodity in many parts of the globe, the affordability and availability of land in Fiji is attracting worldwide attention.”

The lures for foreign investors are many, with waterfront properties in Fiji often selling at price levels considered affordable in international terms.

Moreover, the scope of what is being designed in Fiji is impressive with many top architects wanting to enhance the Pacific Rim architectural flavour in what has to be described as “the ideal environment,” Mr Toogood said