Project offers land for sale to foreigners
One of Samoa’s long established and reputable boutique accommodation providers, who built and run the popular Sinalei Resorts, has embarked on an ambitious firstof-a-kind project in the country. Sinalei’s promoters are planning Sinalei Premium Resorts, an all new $S40 million (US$17m) development adjacent to the picturesque property on the southern coast of the main island Upolu.
It is the first project to put to practical use Samoa’s as yet untested unit title legislation, which allows foreigners to buy and own land in the country. “The idea was to put to better use the land we have around our existing facility,” says promoter Joe Annandale. “We have so far been using just 20 per cent of what we have.” Annandale and sister and copromoter Sose Annandale also have an opportunity to offer the development to a wider clientele outside the country, thanks to the unit title legislation. An event showcasing the project to potential investors was held in Auckland and Wellington a couple of months ago.
Auckland based Pacific Islands Trade & Invest helped out with the marketing collaterals for the project. Interest in the project has been high not only from investors but also the entire real estate industry. The uber-premium villas are aimed at Samoans living overseas who wish to combine a luxury holiday in their own space with visiting their friends and relatives in their traditional villages as well as corporates and even local Samoan residents.
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