Denarau Central Foreshore Investment Opportunity

Executive Summary

Investment into 130 acres of Denarau Central Foreshore, Denarau Island, Nadi, Fiji.

Ragivou Group Pte Ltd (RGL) is offering for sale a major portion of its land property, measuring approximately 130 acres, for the development of an eco-tourism project. The project will consist of an environmentally friendly 1,500-room hotel that utilizes renewable energy from solar and wind, as well as a modern waste management system within the property. The project will also feature a large Convention Centre with a lobby and multipurpose exhibition hall with a capacity of approximately 10,000 visitors, an auditorium with a seating capacity of approximately 5,000, meeting rooms, and other related amenities.

Key Project Features:

  • Environmentally Friendly: The development will utilize renewable energy from solar and wind, and a modern waste management system within the property, making it an eco-friendly project.
  • Large Convention Centre: The Convention Centre will be a focal point of the development, offering a large lobby and multipurpose exhibition hall with a capacity of approximately 10,000, an auditorium with a seating capacity of approximately 5,000, meeting rooms, and other related amenities.
  • Mobility: Mobility by road will be strictly limited to electric vehicles inside the property boundary, with a large vehicle transfer terminal just outside the main entrance to allow for the transfer of all visitors travelling by Internal Combustion Engine (ICE) or Hybrid vehicles into electric shuttles for entry into the actual property premises
  • Car Parking: The car park area can cater for approximately 1,500 to 2,000 car park spaces with well-designed and well-identified lanes and turning areas for buses and all vehicle types.
  • Fast EV Charging Station: Within the RGL property, there will be a fast electric vehicle charging station to cater to the public as well as internal use electric vehicles, and which will be powered by solar and wind technology with battery energy storage systems, remaining mainly off the electricity grid. This EV charging station shall form one of the many related integrated amenities for the overall development project.

Commercials

The selling price for the approximately 130 acres shall be $35m (Fiji Dollars). This price shall be subject to Value Added Tax (Vat) if it is deemed to be applicable by the Tax Office. A Deposit of 50% shall be required to be paid to Ragivou Group Pte Ltd (RGL) upon execution of the formal Sale and Purchase agreement, which shall be utilized for the following purposes:

  • Fisheries Impact Assessment (FIA) Fee: An amount that will be determined by the Ministry of Fisheries under the Fiji government, being the normal procedure.
  • Surveying Costs: Surveying costs to the satisfaction of the government for the entire Ragivou Group Pte Ltd (RGL) property so that the subject 130 acres portion can also be clearly demarcated and then made available for sale and transfer to the Purchaser.
  • Sundry Costs: Sundry costs required for RGL leading up to the issue of the development lease to Ragivou Group Pte Ltd (RGL) by the Ministry of Lands and the pre-transfer and sale transaction of the subject 130 acres land area.
  • Surplus: Any surplus is to remain as partial payment towards the sale transaction for the account of Ragivou Group Pte Ltd (RGL).

Transfer of Property Title for the 130 acres

  • The transfer shall be subject to the purchaser providing an undertaking to commence with the actual development within 18 months, as per the Environment Impact Assessment report and the lease conditions issued by the Ministry of Lands to Ragivou Group Pte Ltd (RGL) and within the timelines stipulated by government.
  • The transfer shall be subject to a time lapse until such time the development works have commenced with internal surveys, earthworks, drainage, roads, sewerage and other preliminary works and ended its first year of continued ground works without any stoppage. Details of this are to be mutually agreed upon between the transferor and the transferee beforehand.
  • The transfer shall take effect upon RGL receiving payment of the balance sum of 50% of the purchase price of $35m.

Ragivou Group Pte Ltd (RGL) is willing to consider matters further for a speedy agreement that is mutually beneficial and fair to both parties based on the overall lease issued by the government for the eco-tourism project.

Executive Summary Request