8 Aug 2006

Fiji island sold to NZ companies

7:56 am on 8 August 2006

Fiji's Vulani Island has been sold to two New Zealand companies.

The sale has been confirmed by John Hill of JS Hill and Associates who owned the island.

Mr Hill says that the island has gone to Highway Stabilizers, a road building company which also runs a dairy farm in Navua, and another New Zealand company.

He says the development potential of the island is enormous and if tourism continues to grow in Fiji, it will generate about 6,000 new jobs and about 465 million US dollars of construction over the next 10 years.

Mr Hill says the Vulani Island will have about 600 residential lots, seven hotel sites and a golf course.