Luxury Waterfront Apartments in High Demand After Elections
Now the election is decided and FijiFirst won - investors have renewed their interest in securing luxury waterfront apartments. Qeleya Point Apartments in Lami, near Suva, saw an immediate spike in sales. Romit Meghji, director of the P. Meghji Trading Limited, secured three off the plan two-bedroom units this past week. Mr Meghji said: “The unobstructed ocean views, proximity to the beautiful Bay of Islands and Suva harbour made for a solid investment. “They are not making any more waterfront land so any new quality waterfront development is a smart investment as far as I am concerned. “Add to that the projected six per cent returns and it’s a recipe for a wise long-term investment.”
Consultants view
Mark Acraman, managing director of Blue Horizon Property Group, the development consultants for the project said: “We are not surprised by rise in sales at Qeleya Point Apartments. “The combination of waterfront location, luxury build and projected returns is what every smart investor is looking for. “With a limited number of units available, investors are now securing their premium units at today’s prices, with the knowledge that as the Suva continues to grow, so will the capital growth of units until settlement in 2020.” Qeleya Point Apartments is the second luxury waterfront apartment project the developers have undertaken in the area.
Uduya Point Apartments
The first is Uduya Point Apartments, which is now under construction and with all available units now sold. Early buyers enjoyed seeing sale prices rise over 10 per cent over the past 12 to 18 months.
About the joint venture
The developer is a joint venture group made up of Hari Punja & Sons Limited and Pacific Building Solutions Limited, two of Fiji’s largest and most successful companies. “By joining forces, we bring the best of our collective skillsets to create some of Fiji’s best and more creative luxury property developments,” said Michael Fairfax, director of Pacific Buildings Solutions Limited. “Our investors can trust that we deliver on our promises including the luxury and quality of our construction as well as the value of their investment.”