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A $500 million commercial-tourism, residential and a gated-community development project are planned for a 19.78 acre-piece of land at Nausori Town, Fiji.
Besides approvals recently acquired for the launch of its $40 million luxury apartment complex, Executive Development Properties Limited (EDP) also plans to establish schools, hospitals, training centres, commercial-tourism apartments, penthouses and townhouses, sporting facilities and villas.
The luxury Vunivivi Terraces Apartment Complex, located within The Haven property development at Nausori, is the most recent of the projects to be launched.
Company Client Services Manager Tui Saukuru said the The Haven property development comprised 52 freehold titles for apartments that ranged in size and facilities from single to four bedrooms, including two magnificent penthouses and 18 townhouses over two levels.
He said these apartments were available for sale as a commercial tourism investment, or for owner residential use.
Under the sale, purchase and construction agreement, Saukuru told FijiLive that Vunivivi Terraces would be owner occupied, or fully managed under the EDP’s body corporate management scheme.
He said each managed or serviced apartment would be subject to pre-existing lease management agreements that would return income after costs and commission to investors.
“All rental leases will be managed on fixed rates for four years, with two option periods for four-year extensions, with the rental being 85 per cent of gross revenue, less specific direct costs,” Saukuru said.
“Investment in commercial, professionally managed properties represents a sound investment decision for the small to medium size investor, as the rental payments can convert to the acquisition of a long-term asset providing a valuable insurance policy for the future,” he said.
