A major development for a seven star resort will commence soon on Nacula Island in Yasawa.
Landowners of the Mataqali Navunikavika and Mataqali Yavusaratu received payment of a lease offer from Doubloon Investment Pte Ltd, one of the largest tourism operators, yesterday.
This is according to the iTaukei Land Trust Board, which facilitated the lease with due consideration for a fair and equitable return to the landowners, who provided $4.1 million as a premium with annual rental commencing at $1.6 million on the commencement of operation.
ITLTB states that the CEO, Tevita Kuruvakadua, has thanked the two landowning units and the Momo na Ratu ni Drola for consenting for their land to be used for this big tourism project.
The project is anticipated to create a lot of benefits for the landowners and nearby villages around Malakati Village and will also contribute to tourism development in Fiji and the national economy.
Kerzner who owns Doubloon Investment Pte Ltd recently acquired a tourism lease on Balawi Beach from where they are planning a high-end tourism luxury resort development of approximately $300 million.
The company is planning to develop a 7-star resort to accommodate 50 ultra-luxury resort villas, 12–15 branded residential villas, 5 food and beverage outlets, a luxury spa, a fitness center, an outdoor pool, water sport activities, and a beach club.
Preliminary topographical survey work is underway, with all approvals needing to be obtained from other stakeholders before developments commence.