Minister Koya thanks Investor for Million $ Land Deal
Minister for Commerce, Trade, Tourism, and Transport Faiyaz Koya applauded Doubloon Investment, a foreign investor, for sealing the deal with the landowners of Bawali Beach, Nacula, Yasawa. The company is investing in a world-class 7 star hotel trading as One and Only.
Doubloon Investment is a seven star group of companies investing out of Dubai and a few other places around the world. On Wednesday, landowners of the Mataqali Navunikavika and Mataqali Yavusaratu both of the Yavusa Drola of Malakati Village, in Nacula, Yasawa received the payment of lease offer from Doubloon Investment Pte Ltd.
The iTaukei Land Trust Board (TLTB) facilitated the lease with due consideration on fair and equitable return to the landowners providing $4.1 million as premium with annual rental commencing at $1.6 million on commencement of operation.
“They found a fantastic destination in Fiji, and it’s a great signal to other investors, bug investors around the world, that Fiji is a great place to invest in,” Mr Koya said.
“Our tourism industry is thriving, we’re getting back to our normal numbers, and it is a place where you can do really well.
“The environment has been created by the government, for people like that to invest here, this is a great sign from the investment perspective.
“The fact that we get another seven star rated hotel coming into Fiji, it’s graded to our inventory, high end clientele.
“There’s so much to it, then just a seven star. “It is a shining example to the rest. It acts as a catalyst to others that want to invest in Fiji. There are fantastic places and properties around Fiji where people can build these resorts.
The investors had started negotiations a little while ago, it’s wonderful to see it come to fruition.
“I have seen their hotels and it’s absolutely phenomenal,” he said.
“Fiji will be very fortunate to have this kind of investment here.”
Mr Koya said post COVID, things have been coming in really quickly for people to invest and build in Fiji.
He said the investors have done their homework, because they are a large entity around the world and very wealthy.
He reiterated the investment was a positive sign for Fiji.
Environment
They are a very conscious company, says Mr Koya, and they would ensure the environment is not harmed and have no intentions of doing anything untoward. “They have made it known to us that they will be doing things in a very environmentally conscious manner.
“At every step of the way, there’s Investment Fiji and the Ministry that’s involved in assisting and helping and making sure that all the T’s are crossed and the I’s are dotted with respect to the environment and climate change commitments that we’ve made. “They are a very reputable company around the world and they will not leave any stones unturned in terms of trying to get it done properly.
“And their investment is not a small scale.”
Investment Fiji
Investment Fiji chief executive officer Kamal Chetty said, strategically it’s an important investment for Fiji.
Mr Chetty said they have been working together with MCTTT for a while for this investment.
He added that once the designs are ready, the investors would make the announcement.
“Doubloon Investment is the registration name of the company as a foreign investor, and they’re linked to a larger group of companies.
“This is their first investment in Fiji and is very important as it will bring new tourists and very high end tourists and investment as more people follow them around the globe.
It will definitely attract more people to come and look at it as an investment destination.
“They’re also at an early stage as they have just bought land, and still have a lot of work to do before the project starts.
Mr Chetty said he had been working on the project for the last two years.
“After a very long time, we have a very large group coming to Fiji to invest, and it is a very positive sign,” he said.