SUNBIZ

Speculation On The Rise: Is Uprising Beach Resort Being Sold For $27.5M?

Uprising Beach Resort owner and director, Rene Munch, said the information was not true, adding it’s coconut wireless at its finest.
17 Oct 2020 16:10
Speculation On The Rise: Is Uprising Beach Resort Being Sold For $27.5M?
An aerial view of some of Uprising Fiji Resort’s bures.

Speculation is growing that Uprising Beach Resort is being sold for $27.5 million.

Sources at the Pacific Harbour resort who spoke on the condition of not being identified – said they believe a sale is imminent.

This is despite denials from the parties said to be involved.

Uprising Beach Resort owner and director, Rene Munch, said the information was not true, adding it’s coconut wireless at its finest.

“We are still looking for investors, and the resort is not on sale at the moment,” said Mr Munch.

“There are no tourists coming to Fiji, so why should we sell the resort for.”

A source confirmed to SunBiz that 480 Holding Limited that owns Yaqara Waters are working with their lawyers, Siwatibau Lawyers, to get all the legal documents of the sale in place.

480 Holdings director Mohammend Harun said the news was not true.

“I have never heard of anything regarding the purchase of the Uprising Resort.”

Yaqara Waters is an American packaging and export mineral water based in Rakiraki.

When approached on Monday, Atu Siwatibau of Siwatibau Lawyers, said he doesn’t want to comment on the purchase of the resort.

Another source when contacted said it was a confidential transaction, and would not comment.

Feedback: lusiana.tuimaisala@fijisun.com.fj

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