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Saturday, March 17, 2007

Australian company to develop two 200-room hotels at Yaqara

An Australian company, Resorts and Property International Limited (RPI), has been given the go ahead to develop two 200-room hotels at Yaqara.

In the arrangement, RPI would secure a 25% interest in Yaqara Group Limited and sublease two waterfront sites for development of the two hotels at Yaqara Studio City.

The company intends to build a 5-star Ivana Souht Pacific resort and a 3- or 4-star Ivana brand resort.

RPI's stake in the Yaqara Group would total F$6.76 million, made up of F$4.05 million cash and F$2.71 million shares.

The construction of the two hotels will commence in 2009.

Yaqara is located at the Ra Province on Viti Levu, near Rakiraki.

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At 7:48 AM, Anonymous Anonymous said...

Not sure about that project. First it wa strictly a Studo City now a resort.
In any event, the ownership of the land is still being deliberated; as there are some mataqalis who have sought legal action, for the state claiming Ultimus Haerus; when there are still living claimants. NLTB also comes into the picture, for some mis-representation.


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