Business tycoon and chairman of Hari Punja Group of Companies, Hari Punja, at his office in Walu Bay, Suva, yesterday, with an artist’s impression of The Palms Denarau Island project currently underway on Denarau Island. Photo: RAMA
By RACHNA LAL
Denarau Tourist Apartments Limited, a 100 per cent subsidiary of Hari Punja and Sons Limited, has begun construction of The Palms Denarau Island Fiji.
The $20-million project on one of the most famous tourism locations in Fiji, Denarau Island, began in May this year.
Hari Punja and Sons Group of Companies chairman, Hari Punja, in an interview with the Fiji Sun confirmed the 15-month project would be completed by September next year.
Mr Punja said the development comprises of a three-storey apartment complex containing 30 units of “very high quality two bedroom apartments”.
The construction is very close to Port Denarau and the Marina.
“This project is an integrated tourism development,” Mr Punja said.
“The project includes 30 serviced apartments together with the requisite public facilities such as swimming pool, restaurant/café and a bar.”
Construction works are being carried out by Pacific Building Solutions.
Mr Punja said this project is similar to Radisson Blue and Fiji Beach Resort and Spa Managed by Hilton already on Denarau Island.
Economic benefits
Mr Punja highlighted some of the benefits out of the construction of The Palms Denarau Island Fiji.
“There will be employment creation for the new development and foreign exchange earnings,” he said.
Mr Punja said there will also be increased ancillary business for various suppliers to the development – goods and services.
Moreover, Mr Punja said this will mean addition of more hotel rooms to the tourism industry.
“Also the multiplier effect from the spending to the many people employed during and after construction right down to household consumption,” he said.
Meanwhile, Mr Punja revealed Hari Punja and Sons Limited and its subsidiary companies are in the midst of investing a total of about $55 million in various projects and expansion in Fiji.