The Hari Punja Group of Companies has announced a 258 room, five-star luxury hotel project at Wailoaloa Beach, Nadi.
In a media conference, Hari Punja Group of Companies Chairman, Hari Punja said that the proposed hotel will be managed by Rydges Australia, which is one of the most recognised brands in Australia and New Zealand with 60 hotels in operation.
Punja said construction of the $220 million project will begin in June this year, and the hotel is scheduled to be opened for business in 2026.
He said it was recently announced that Fiji has a shortage of around 5,000 rooms in the hotel industry.
Other projects by Hari Punja and Sons in the pipeline include Nasese prime residential land development. The first stage of this project consisting of 43 blocks will be completed by the end of next month.
They also have 10 commercial blocks in Korolevu which will be fully constructed by the end of this year, which will include a service station, fast food outlet, supermarket, handicraft shop, café and gift shops.
Punja said they have a Wailoaloa commercial land development that has just been completed and is located next to the proposed Rydges Resort Wailoaloa Beach and is currently being marketed.
He said they have a very modern Blue Gas terminal in Lami, costing $15 million, which has just been completed and is in full operation from this year.
Punja added the construction of Labasa Blue Gas terminal is expected to commence later this year.
