|Land Area||28 acres|
|Location||Southwest side of the Main Island, Viti Levu|
|Published Reserve||US$1.5m plus VAT|
Sovi Bay is on Fiji?s beautiful Coral Coast, on the southwest side of the main island, Viti Levu.
One hour from Nadi airport and two hours from Suva, this stunning 28 acre freehold site, with 180 degree views of the bay and reef, is an opportunity to develop a desirable tourism and residential destination.
The Coral Coast is one of Fiji?s most popular tourist spots and is home to a number of major hotel brands, as well as being sought after by both local and international purchasers of holiday homes.
This hillside property, with impressive views of Sovi Bay, the deepest bay on the Coral Coast, with its white sandy beaches, offers a number of tourism and residential opportunities.
Current plans involve conversion of the site to an integrated resort development to create 45 villa sites, a 30-40 room boutique hotel and a generous commercial zone providing hotel, retail and hospitality options.
The property is ideally suited to benefit from Fiji?s growing tourism industry and the Masterplan concept for Sovi Bay has been designed with this strong tourism growth in mind. Fiji?s tourist market has grown 19% over the last 5 years. 2016 is heading for another record year with tourist numbers expected to rise 5% on 2015. Recently increased direct flights to Fiji from Honk Kong, Singapore and Seoul should substantially boost visitor arrivals.
Freehold land comprises just 8% of Fiji, making this is an unusual opportunity to buy a development site in the region. Sovi Bay is well placed to benefit from growing numbers of visitors looking for holiday and retirement options, without concern for security of tenure in other Asia Pacific destinations.
Highest or any tender not necessarily accepted.
Price is US$1.5m plus VAT if any