$7.5m Investment Development Plans For Uduya Point
Castle Properties Limited owns Marina Apartment, and the company’s future development plans is to develop more residential properties in Uduya Point.
Mr Sharma said the plan was in pipeline and would build for a market that they forsee would emerge.
“At the moment, the confidence is not that great,” Mr Sharma said.
He said when there was a demand in the market than they would start with the development.
“Our target customers are people who like to live on the water front.”
Mr Sharma said they were confident with the location, given it was located in a very prime ocean front location.
He said other luxury apartment developers have also built apartments in the area.
He said Fiji was still the financial and regional hub of the South Pacific.
Therefore, Mr Sharma said the demand for expatriate accomodation was projected to grow over the next few years.
“We are optimistic that the COVID-19 pandemic will be solved and business will resume as normal.”
Mr Sharma said the Uduya Point was going to be the next Denerau.
“The reason is that all the properties are on the water front that has got the appeal that suva and Denerau do not have.”
Credit: Fiji Sun
Date: 21/11/2020
