$50m confidence

Geraldine Panapasa
Saturday, October 13, 2012

PEPPERS Naisoso Island Resort has definitely gained investor confidence reaching a milestone of $50million in sales this week, according to managing director of Naisoso Island Bob Lowres who added Fiji had progressed well since the global financial crisis in 2008.

This issue of investor confidence was discussed extensively during the recent Fiji Economy Update 2012 in Suva this month, with Fiji Revenue and Customs Authority chief executive officer Jitoko Tikolevu saying earlier this was an area they hoped to improve.

Mr Lowres said the development of Fiji's first casino and the expansion of the rebranded Fiji Airways would pave the way for more interaction with the country's Chinese counterparts.

"The scale of the Chinese opportunity is really something to behold. We are seeing more and more Chinese visitors to Naisoso Island during the holidays," he said in a statement.

"We've taken the time to have all of our marketing material translated to Chinese. We're thrilled to reach this milestone and if we weren't so busy we'd take the time to celebrate."

Mr Lowres said the project was a sign of confidence in Fiji especially when many of their buyers were from Australia, New Zealand and Papua New Guinea.

The 178-room Peppers Naisoso Resort, which is expected to be open for business by December 2012, is expected to be ready in early to mid 2014.

"With pre-construction works almost complete, the team at Naisoso Island are bracing themselves for a busy few months leading into the peak tourism season," he said.

"Comprising one, two and three bedroom apartments, Peppers Naisoso Island resort recently sold its seventh high end penthouse apartment proving the luxury property market in Fiji is going from strength to strength."

Investment Fiji chief executive officer Ravuni Uluilakeba earlier stated that Fiji's investment status had improved over the years, marking a target of over $600m through implemented projects so far.