A $750 million residential and commercial project has been launched in Suva in the form of Nakasi Modern Village Development Project.
Located at Nakasi’s Sauniwaqa sub-division, the investment is by Dong-A Holding (Fiji) Limited, a private Korean limited liability company headquartered in Korea with a network spanning China, Canada and Hong Kong.
Better known as Nakasi City, the project was officially launched by the Minister for Local Government, Housing & Environment, Parveen Kumar Bala, on May 5, and will be spread over 645 acres.
“This project is about building and creating this same land, this area to become a city,” he said.
“This is going to benefit not only Fiji but the Asia Pacific as a whole, drive by four development goals, which are namely, to become a world class city that meets both global and local expectations, a modern city with an image that portrays a high standards of administration, education, cultural centre and leisure facilities, a strong focal point for tourism, industrial development and economic activities, and a vibrant and liveable city with luxurious international standard amenities and convenient modes of transportation.”
Engineering plans are underway, with the development to be carried out over the next 15 years, for which the first five years will be spent on road works, before residential lots, a golf course and hotel infrastructure are implemented.
“The land will be developed and built with these facilities, as seen in a town or city. There will be designated areas for tourism development and supporting investments directly related to tourism, such as a cultural centre, cultural village, a museum and silver town apart from the main commercial hub and is CBD, industrial parks and open spaces, both for recreation and parks, with emphasis on creating greenery and landscaping.”
Civic sites are being integrated into the residential areas, and sites for educational facilities, from primary to tertiary level, as well as sites for public administration and services, a fire station and hospital.
According to Dong-A chairman, Rhee Y-Soo, the company has been expanding to markets in the South Pacific, particularly Fiji and Papua New Guinea’s international business district.
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