Property company Relcorp (Fiji) Limited, associated with Australian expatriate and Fijian citizen Bob Lowres, has put a premium 5-hectare freehold oceanfront development site up for sale. Relcorp is also seeking approval to subdivide the 5 hectare site into five smaller 1 hectare beachfront lots that can be sold separately or together as a whole.
The move follows the recent sale of 9.7 hectares on Naisoso Island to a group of prominent local businessmen and New Zealand’s CP Hotel Group. That deal includes a site earmarked for a five-star resort that will be operated by a world-renowned hotel brand (pictured in blue above).
As part of the CP Hotel Group deal, Relcorp has now sold out all remaining residential lots on Naisoso Island (122 in total).
The 5 hectare site currently holds development approval for 178 apartments - formerly attached to the Peppers Apartment project - however Relcorp has now ended the Peppers project and is seeking a higher density of development along with the subdivision.
Mr Lowres said the land was a rare offering because it was freehold, and would attract generous stamp duty and tax incentives not available in other areas of Fiji, as part of it Master Planned Tourism Approval.
He said apartments planned for the land could be used for permanent or holiday occupancy.
“This is an integrated resort island that people can live on,” he said.
The tender campaign for the land has been launched as Mr Lowres prepares to unveil his own plans to develop 48 apartments on Naisoso Island.
The developers hope to create a destination brand for Naisoso Island that can encompass all aspects of the island and allow the island to mature through the sale of other sites and the creation of other high quality hotel operators on strategic locations of the island.
“Naisoso Island is a pristine island in the middle of the Pacific surrounded by clear blue waters within just minutes of Fiji’s main international airport,” said Mr Lowres.
“Residents can already access hotels, cafes, restaurants in the area and we hope the fulfilment of our masterplan, which includes the further sale of strategic sites for hotel operators, will see Naisoso Island achieve its full potential.
“Existing residents love Naisoso and we look forward to unlocking the island to newcomers as the Fijian economy continues to improve and this world class destination continues to be unlocked internationally.”
Fiji’s recent years has brought significant economic changes alongside a matured political system that has seen industry advances in infrastructure, health, medical services and education.
These changes have created a more attractive destination for investors and holidaymakers alike.
The tender campaign for the development sites on Naisoso Island closes on April 27.
For more information on the tender please visit naisosoisland.com or email shalini@naisosoisland.com.