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Traditional lenders continue to scale back, and those still active are offering significantly lower loan-to-value (LTV) ratios, making it difficult for developers to move projects forward. Securing financing for hotel development continues to remain challenging.
Under an agreement with property developers JQZ, a 279-room new build premium hotel will be introduced as part of a large-scale mixed-use development on Church Street in the CBD. The broader development will also include residential apartments, alongside retail and commercial tenancies, with construction already underway.
Construction has commenced on Peppers Gladstone, marking the first new hotel construction in the region in over a decade. “We The dual-branded property is expected to appeal to business and leisure travellers and will cater to small to large-scale meetings, expos and weddings within its various conference spaces.
Full-scaleconstruction has commenced on the development of Radisson Blu Mirage Resort Fiji, scheduled to open in 2026, with the project now funded by both the Fiji National Provident Fund (FNPF) and BSP Financial Group (Fiji) Pte Limited (BSP).
The expanded accommodation offering can now welcome over 150 guests, and has the facilities to host small to large-scale meetings, expos and weddings. Designed by BSPN Architects and constructed by Mettle Projects, each room aims to reflect the surrounding landscapes from the bush to the city, lush rainforests, and breathtaking coastline.
Award-winning Czech architect Petr Kolar was inspired by this namesake, and the 47 stylish villas were constructed to form the head of the turtle with the island itself creating the body – seen by guests making the 45-minute private sea-plane journey from Mal.
The Panel approved the redevelopment following major changes to the original development application lodged in July 2021, which included an improvement of bulk and scale, a reduction in height, removal of a proposed supermarket, improvement of urban form and amenity, and reduced view loss.
In the recently released Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Asia Pacific’s luxury, upper upscale, and upscale chain scales each hit peak project counts at the end of Q3 and account for 53% of the projects in the region’s hotel construction pipeline.
There are so many constraints and challenges in property development at the moment with the escalating construction costs and labour shortages across the industry, so finding ways to deliver a whole number of different uses within the building is the only way to do it in a lot of inner-city developments.
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