South Pacific Development Group Secures Land Deal for $450 Million Resort in Samoa
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South Pacific Development Group Secures Land Deal for $450 Million Resort in Samoa
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Category: Asia Pacific - Samoa - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2008-08-21
Hawaii-based South Pacific
Development Group (SPDG) has obtained a 120-year lease for 600 acres of
prime oceanfront land on Savaii Island in Samoa to develop the Sasina
Village Resort.
The luxury resort's first phase will feature a hotel, timeshare units,
championship golf course, and cultural center to be followed in later
phases by additional hotels, private residences and a recreational marina.
The overall development cost is estimated at $450-500 million.
SPDG CEO Jesse James and Faumuina Liuga Tiatia, Minister of Natural
Resources and Environment, recently signed the land lease agreement in
Apia, Samoa. The size of the acreage and duration of the lease is
unprecedented in Samoa.
"These transactions successfully demonstrate our company's ability to
be a leading player in an area destined to emerge as one of the South
Pacific's most sought-after tourist destinations," said James.
SPDG is meeting with potential hotel partners, co-developers and
investors interested in having a financial stake in its development
projects.
"There's been a tremendous amount of interest," said James. "Our
potential partners sense that Samoa's unique cultural appeal and tropical
beauty are about to be discovered by travelers yearning for a destination
that offers the rewards of ecotourism and cultural tourism and the South
Pacific's romantic allure."
Sasina is located on Savaii's rural north shore and is known for its
adherence to historical Samoan traditions. The village of Sasina has
additional acreage of pristine land set aside for development on which SPDG
has first right of refusal.
James says SPDG is committed to preserving Savaii's culture, tradition
and environment. "It's what makes Samoa and Savaii special in the first
place, and we want very much to keep it that the way." Resort structures
will be less than four stories tall and setback 500 feet from the
shoreline.
Leasi Vainuupo Nuusa, High Chief of the village of Sasina, said the
project is a positive development for Sasina that will create job
opportunities, spawn a new lumber industry, and allow farmers to sell
produce to the resort.
Savaii is one of the South Pacific's most serenely beautiful
destinations. It offers an astonishing range of sights from volcanic
craters, scenic waterfalls and lava tubes to rainforest canopy walks,
blowholes, surfing, snorkeling, and lovely beach settings alongside
traditional Polynesian villages.
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