The island is home to a world class resort development (80% complete), with an estimated completion of 6 to 9 months. The resort was designed by an architectural team that has worked on developments for Disney and major resort projects around the world to ensure true five star design and amenities.
The Island and resort corporate entities are operational, currently registered with the Fiji government, and approved for all available tax concessions. The project has full development and approved resort plans and permits along with a minimum 10 year tax holiday on all income, starting the day the resort opens for business. There are additional tax concessions already in place that would apply to the completion costs.
Scarcity of private islands coupled with the growing popularity of Fiji as a holiday destination, increasingly favored by Americans and Europeans, has further increased demands for the ultimate seclusion that a "private" island ensures.
There is also the option of selling the beach front luxury villas to private investors with (or without) freehold titles which could provide more than enough funds necessary to complete the resort construction without requiring additional capital infusion.
Concurrently with the resort construction, or shortly thereafter, one acre custom homes sites on the designated sections of the island could be sold for approximately $1 Million dollars each; the homes would be designed and constructed to reflect the island's decor, providing immediate cash flow from both the sale and construction, as well as allowing the island owners to maintain control of the overall island development.
This has been done in other countries as well as Fiji with great success, providing significant ongoing income streams from renting the homes and providing management services to the home owners.
The late actor Raymond Burr (TV's Ironside & Perry Mason) purchased Naituba Island, in the Lau Group of Fiji. He sold it in 1983 for a reported 1 million dollars, nearly 200 times the orignal purchase price!
Virgin Airlines founder Richard Branson bought Necker Island for US $303,000 and spent the next 20 years developing it into his dream home. Today, it is currently valued at approximately US $106 million.
Fujio Kochi, the Chairman of Tokyu Corporation, a railway, hotel, and resort company from Japan bought the 5,500 acre Mago Island for US $6.15 Million.
Malcolm Forbes, Editor of "Forbes" Magazine paid $1 million for Laucala Island, a 3,017 acre, palm-covered paradise in Fiji. "I hate to overuse the word," Mr. Forbes once wrote, "but Laucala is idyllic." Malcolm was interned at his request on the island at his death.
18 years after Mr. Forbes death, Laucala was sold to Red Bull head Dietrich Mateschitz which he bought from the Forbes family for 10 million and has invested over 500 Million to develop the Island and resort. The resort on the island has 25 bures, each unique from one another with differing themes. The projected cost per night ranges from US$7,000 - $36,000. When only partially constructed, the resort had already accommodated American actor John Travolta.
Hollywood actor Mel Gibson bought the totally undeveloped Mago island for US $14.8 million. That is double the price in less than 20 years! Mr. Gibson is building a private retreat for his family and has reportedly spent over $30 million developing the abandon coconut estate. Mago is reportedly the largest private Island in the world at some 5,000 acres.
James Jannard an American designer and businessman, and founder of eyewear and apparel company Oakley, Inc. and RED Digital Cinema. Recently bought Kaimbu and Vatuvara islands, both close to Yacata island in northern Fiji. Kaimbu is in fact in the lagoon of Yacata and is about 3km away. Jannard has great plans to develop Kaimbu into a top level hotel resort. In so doing, This follows two earlier multi-millionaire owners of Kaimbu - Mr Jay Johnson (American) Whom initially develop the island into one of the first high end resorts in FIJI in the early 70’s and Hiro Yamagata(Japanese) whom owned four large islands including Mago (Mel Gibson’s ) Kanaca and Adavati Island.
The 40 acre islandi, located in Savusavu Bay, was bought by an expatriate several years ago for $60,000 FD, and was sold recently for approximately US $12 million. It is currently being developed by an Australian property developer into lots which will be marketed to foreign investors.
A 3.4 square mile former coconut plantation was sold in the 1960's for a mere US $150,000 to an American speculator. It is now owned by a Canadian businessman and is one of the most exclusive islands in the world. Prices for lots on the island range from US $500,000 to several million dollars. Nightly rates range from $2500 to $250,000.00 per night.
Recently bought by the Accor Hotel Chain and the very small villas on the island are being sold starting at US $500,000.
Ownership of unencumbered freehold land is extremely rare in Fiji as only 7% of land in the country is freehold. Blue Lagoon Island was never permanently inhabited, thus when it was declared freehold in the 1860’s no native population was displaced.
The island property was appraised at US $10 million in 1999, prior to any development. Recently two accredited valuation companies concurred that the current market value is estimated to be in excess of $44 Million Dollars.
