$90m injected into Nawi Island development
Ninety million dollars has been invested into the development of Nawi Island in Savusavu over the past 18 years.
The investors however remain committed to completing the project which will take at least another three to four years.
Advisor to Nawi Island, Ron Valenta says they had several setbacks over the past several years.
“It’s a very difficult project because it’s environmentally based and you have to be sensitive to the environment and what you are taking out as well as what you adding in. So, that took a long time. Then we had the GFC – great financial crisis and that caused us time and when we finally started going, we had the COVID issue.”
The development is divided into three phases.
The construction of the 132 slip marina – 21 of which are for superyachts – as well as the setup of Korovesa, the retail side of the island which will have an office space, a restaurant, a bar, retail store and the harbour master make up phase one.
This is expected to open in mid-December.
Valenta following this, they will start work on phases two and three which will take several more years.
“Residential phase coming up next – we are pre-marketing this month – anticipate that to be pre-sold in the early part of next year and the new will start construction by the end of next year.”
Investors are working to ensure that the development benefits the local economy.
23 new small businesses are expected to start up as a result of the marina opening.
Credit: FBC TV
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