The first stage of an upmarket residential precinct in Sonaisali, outside Nadi has sold out with foreigners snapping up the bulk of its 17 lots.
Tuscany Dreams was launched in late 2015 by Bobby Khan, a returnee resident whose property portfolio spans the neighbouring Resort Relax Fiji on the Sonaisali waterfront, a wedding and convention centre, the U Save Supermarket chain and other real estate developments in Nadi and Sigatoka.
This first stage has recently seen the completion of three residencies, all featuring swimming pools and built by Khan’s construction firm, Western Homes Limited.
“We are extremely pleased with the progress of developments,” he said.
“Buyers and investors have included a considerable number of former Fiji residents who are soon returning home and want to set up a home here.”
The attraction has also been attributed to the developer’s land and house packages, giving buyers expediency.
The second residential stage also encompasses 17 land lots, and buyers have been quick to register their interest, with several lots already sold and many under contract. Stage 2 was only subdivided and released this year with Crown leases for special use villas on Tiri land.
“Many investors wish to have resort-style homes that feature an open plan and suitable for the tropics, which we have been able to accommodate with our architect and construction team.
“The land and house deals have been successful because it’s been able to free investors from the hassle of organizing design plans, construction and logistics themselves. Many are looking at establishing a home they can permanently stay in, while some have their sights set on a holiday home or a property that can give them good rental returns.”
The lots range in size, typically settling at 1500 sqm and including a commercial lot in Stage 1 that encompasses 2445 sqm.
Buyers have also included the prolific Chinese market, an affluent group whose buying power and global spending spree has exceeded $20 billion annually, becoming the world’s largest cross-border real estate investor
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