Abbas Ali’s dream now reality at Wailoaloa
JOHN ROSS
NADI
One of Fiji’s most successful integrated residential and tourism developments nears completion.
The Fantasy Development at Wailoaloa, on Nadi Bay, has announced that all sales of both residential lots and lots in the commercial marina have been suspended.
There have been an unprecedented number of sales in the last eight weeks, the company is debt free and has strong operating capital levels so the decision was taken to suspend all sales from August 18.
Work is continuing on both the residential stages, including the beachfront lots, and the commercial and industrial marina and the proposed completion date is December of this year.
Once the work is completed and the final survey done, titles will be available and sales will recommence, with the remaining lot prices increased.
The project started as a dream, the vision of one man, developer Abbas Ali, who has pursued his vision until today, fifteen years later and the dream is a reality.
Mr Ali says: “There have been times when we struggled, times when we faced serious issues, times when we thought that we had taken on too big a project, but now the end is clearly in sight.
“We have had great support from the government over the last eight years, help with overcoming obstacles and encouragement to keep moving forward.
“The investor confidence generated by this government and the coming general election has been the driver for the incredible sales over the last eight weeks.”
This development is one of the most commercially successfully in Fiji in the last ten years.
The prices of all lots in the development increased fifteen per cent in June and a further increase twenty percent increase was put in place in August.
The developer is considering a further increase of fifteen percent once all work is complete, bringing prices for some lots to over half a million dollars.
The developer is holding a significant number of indications of interest and these will be offered the lots first, once they are released for sale.
All offers from interested buyers will be accepted by the company and these will have priority, subject to final prices.
The development is a fully-integrated residential, tourism and marina complex, with most lots having deep water canal frontages.
There is access to Nadi Bay via an eighty metre wide main canal with a low tide depth of over 3.5m.
A large number of houses have already been built and a number of others are in various stages of construction.
Also planned is a multi-purpose sports complex and a multi-purpose convention centre, five individual hotel/resort sites and a world class yacht club, already accredited with Fiji Yachting Association.
Fantasy Island is a vibrant, well designed and serviced development, with close access to the international airport, Nadi Town and Denarau.
A new express road being developed from Wailoaloa Junction to Denarau passes the main entrance road to Fantasy.
Through the commercial marina, Port Fantasy will make the resorts of the Yasawas and Mamanucas more readily accessible.
A world standard common user terminal will commence construction by December.
This is a unique concept with tourist transport delivering passengers under cover to the marina, with all the necessary support businesses such as restaurant, bars, coffee shops and boutiques as well as a large supermarket facility.
A well known Australian based company with wide experience in design and leading edge terminal planning in Australia and South East Asia has been commissioned to undertake all the structural and architectural designs for the terminal.
What will Abbas Ali do after December?
“We still have a number of other projects in the area, including an industrial estate, other residential land and farming,” Mr Ali said.
“There are a wide variety of different needs in the area. With the current project developing over fifteen years, we have learned a lot about people’s needs and we will continue with other developments to provide unique properties.
“Fantasy island has many things to offer that are not available in other property developments and has raised investor expectations in Fiji to new levels, which demand a better quality of lifestyle of the kind available in other parts of the world.”
But first he will concentrate on completing the work at Fantasy Island before the New Year.
Feedback: rachnal@fijisun.com.fj