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Building Prosperity: The Sorena Naisoso Project Set to Boost Fiji’s Economy with $500M Investment

Feb 25, 2024

The Sorena Naisoso project, spearheaded by Tourism Capital Partners, is set to transform the Fijian economy with a staggering $500 million investment. This ambitious project, designed to address critical infrastructure gaps, promises to inject significant capital and generate long-term economic growth.

The first phase of the project, valued at $150 million, will focus on creating retail and restaurant spaces, along with office spaces dedicated to the business process outsourcing (BPO) sector. This phase aims to stimulate both the tourism and business sectors, providing much-needed commercial infrastructure.

Andrew Griffiths, Director of Tourism Capital Partners, has confirmed that the second phase will bring apartment blocks at a cost of $100 million, and the third phase will introduce 300 hotel rooms for $250 million. These apartments, designed to meet the high demand for accommodations, will be leased on a nightly basis, addressing the chronic shortage of hotel rooms in Fiji.

The project is expected to create hundreds of jobs for local Fijians and inject an estimated $240 million in construction stimulus. Once operational, it will contribute $25 million annually to the local economy. In the long term, the Sorena Naisoso project aims to achieve a $1.1 billion capital expenditure stimulus and an annual operational stimulus of $300 million, making it a groundbreaking contributor to Fiji’s sustainable economic growth.

Fiji’s Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, praised the project, stating that it would create significant multiplier effects within the economy, from increased construction revenues to higher VAT and income tax generation. He emphasized the project’s potential to boost government finances while creating opportunities for future investments.

This development is being led by Tourism Capital Partners, the same team behind the success of Six Senses Malolo, further cementing their reputation as a key player in Fiji’s economic landscape.

With construction set to begin in the third quarter of 2023, the Sorena Naisoso project marks a new era of economic potential and growth for Fiji, providing a much-needed infrastructure boost and a bright future for the country’s tourism and business sectors.

 

Read More at https://www.fijivillage.com/news/Construction-of-500-million-Sorena-Naisoso-project-to-begin-in-September-r584fx/

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How we Build a Resort Executive Summary

What makes a good Island: Site Selection

The allure of resort development lies in the promise of creating luxurious retreats in scenic settings. However, turning this vision into reality requires more than just selecting a beautiful location.

  • 1.0 - Introduction
  • 1.1 - 1st Principle: Is this a Proven Destination or Not?
  • 1.2 - 2nd Principle: Positioning
  • 1.3 - 3rd Principle: Size & Access Matters
  • 1.4 - Island Destinations
  • 1.5 - Why the Maldives? - A Personal Perspective
  • 1.6 - Maldives Positioning
  • 1.7 - Birth of an Atoll

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What defines a strong ownership structure? The Ownership
Owning a resort is more than just holding the title to a piece of land—it's about navigating complex agreements, long-term commitments, and ensuring financial stability. But what exactly does it take to form a robust ownership structure that can withstand the dynamic nature of the hospitality industry?
How do you transform a vision into a destination that stands out? The Concept
Every great resort starts with an idea, but what steps are necessary to turn that concept into a reality? From market positioning to guest experience design, the concept defines the soul of the resort and how it will be perceived by guests.
What do you consider in building a resort - The Infrastructure
Luxury doesn’t just happen—behind every seamless guest experience lies a carefully designed infrastructure. How do we balance innovation, sustainability, and practical needs, especially in remote locations like islands?
What makes the dream holiday experience to reality - The Operations
Behind every memorable guest experience is a highly coordinated team working both front and back of house. How do we integrate multicultural teams and manage logistics on a secluded island to deliver five-star service around the clock?
How to make the dream team? The Team & It's Culture
A resort’s success depends on more than just the physical property—it thrives on the strength and harmony of its team. What strategies are employed to create a cohesive, motivated, and culturally diverse workforce that consistently delivers exceptional service?
What does it take to manage logistics on a remote island? The Logistics
Running a resort on an island involves much more than daily operations—it requires a well-planned and reliable logistics system. How do we ensure the timely and efficient transportation of essential supplies like food, fuel, and materials to keep the resort running smoothly, despite geographical challenges?
How can you ensure the resort's commercial success - The Sales and Marketing Distribution
Sales and marketing aren’t just the finishing touches—they’re integral layers that build a resort’s reputation and attract the right clientele. What role do wholesale companies, PR agencies, and sales representatives play in driving revenue and visibility, and how does a well-structured budget maximize these efforts?
How can you make your resort unforgettable - The brand
A resort’s brand is more than just a logo—it’s the essence of the guest experience. How do we create a brand that not only stands out in a crowded market but also resonates with guests, creating lasting impressions and loyalty?

Mark Lawrence

Marketing and Sustainability | Over 10 Years

 

Mark Lawrence brings years of expertise in sustainability and brand strategy, built on a strong foundation in environmental and structural engineering in the beginning of his career, Mark developed a deep understanding of ecological systems and sustainable practices. Leveraging this technical knowledge, he transitioned seamlessly into marketing, where he has excelled in aligning brand initiatives with eco-friendly and sustainable principles, crafting compelling narratives that resonate with modern audiences.

Mark’s dual focus on environmental sustainability and strategic brand development has enabled him to lead transformative projects that enhance both corporate reputation and ecological stewardship. He sets standards by placing sustainability at the core of business growth rather than treating it as an afterthought. His ability to craft effective messaging around sustainability, coupled with a deep understanding of market trends, has enabled him to bridge the gap between environmental responsibility and business growth. His leadership in transformative initiatives, such as large-scale coral rehabilitation projects in the Maldives, underscores his commitment to integrating environmental stewardship with strategic growth.

 


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Advisor

Response 2As Advisors, we take pride in providing strategic guidance and hands-on expertise to ensure the success of every project we undertake. Our recent work at Cora Cora Maldives stands out as a particularly rewarding experience. In this role, we collaborated closely with the Japanese principal shareholder to navigate the complex journey of renovating, repositioning, and reopening a resort that required significant investment to meet the competitive standards of a 5-star property in the Maldives.Throughout the project, we maintained a strong partnership with the owner, characterized by open and frequent communication. This approach allowed us to effectively manage expectations, align on priorities, and ensure clarity at every stage of the process. We emphasized transparency, particularly when faced with challenging decisions, ensuring that all actions were informed and aligned with the overall vision for the property.By leveraging our expertise in operational planning, financial management, and strategic branding, we guided the transformation of the resort into a high-quality destination capable of competing with the best in its market. This project exemplifies our commitment to delivering value, fostering trust, and driving results as trusted Advisors in the hospitality industry.

Services Provided

  • Investment memorandums
  • Sustainability masterplan and concepts
  • Property Review

Asset Manager

The role of the asset manager is to optimize and enhance the value of the asset from the owner's perspective, ensuring alignment with the operator's goals while maintaining rigorous checks and balances. As asset managers, we act as the owner’s advocate, delving deeply into the financials, from analyzing accounts receivable reports to scrutinizing sales and marketing strategies. We collaborate closely with the operations team to ensure that the numbers align with the broader financial objectives.Our responsibilities extend beyond financial oversight. We provide informed recommendations and validation to the owner, who may not be directly involved in the day-to-day operations, ensuring that their interests are represented and protected. Additionally, we engage with legal counsel to manage any disputes, work with tax consultants to develop and implement effective tax strategies, and handle complex negotiations related to headleases and subleases.By taking a holistic approach to asset management, we ensure that every aspect of the asset's performance is optimized, from operational efficiency to legal and financial integrity, ultimately driving the asset's long-term value and success.

Services Provided

  • Owner's representation
  • Lease negotiations
  • Tax strategy
  • Regulatory Compliance
  • Corporate Governance
  • Taxation
  • Risk management and Mitigation
  • Legal dispute management

Operators

At Moshi, we believe strong partnerships are key to success. We prioritize working with trusted collaborators who consistently deliver cost-effective solutions on time. Our operational approach focuses on close collaboration with property management teams, ensuring people—guests, employees, and stakeholders—remain at the center of everything we do.Sustainability is a core principle that guides how we design, position, and manage properties. By integrating environmentally responsible practices, we ensure our properties positively impact their communities while remaining commercially viable. We combine strategic branding with data-driven revenue management to craft compelling brand identities, optimize pricing, and drive long-term profitability in competitive markets.Committed to excellence in all aspects of property operations and management, Moshi strives to create properties that set new standards for success in the hospitality industry.

Services Provided

Resort Management,
PNL responsibility
Sales and Marketing Strategies
Branding
HR and Training Management
Sustainability implementations
CAPEX review
renovation monitoring

Developer

As developers, we identify underperforming or mispositioned assets, as well as locations ripe for greenfield projects. Our approach is twofold: first, we strategically map out the brand and hotel positioning, including target demographics, development concepts, and design direction, all backed by a robust feasibility study. Second, we collaborate with designers and consultants to transform this vision into a detailed master plan. This marks the concept phase. In parallel, during this process, we also work closely with investors to raise both equity and debt. During the development phase, we lead the contractor selection process, whether by managing the project internally or partnering with an external project management firm. Our role is to oversee the entire process, ensuring seamless coordination among the construction team, designers, consultants, investors, and, when applicable, external operators. Even the best-laid plans may face challenges. We are dedicated to resolving issues and keeping the project on track, ultimately bringing the envisioned resort to life.

Services Provided:

  • Concept development
  • Resort Masterplan Development
  • F&B and Wellness concepts
  • Legal contracts
  • Third party negotiations
  • Fund raising

Cora Cora Maldives

Maldives
Concept Development, Operational Implementation, Pre-Opening services, Contract Negotations, Third Party Negotations, Investment Structure, Project Development, Branding, Sales and Marketing Strategy, F&B Wellness concept and implementation,

Cora Cora Maldives is a 5-star resort located in the stunning Raa Atoll. Offering a premium all-inclusive experience, the resort features 100 luxurious villas surrounded by lush greenery and crystal-clear waters. It will be the first resort in the Maldives to showcase a licensed art gallery and museum, with over 400 local artifacts, blending culture with natural beauty. Guests can enjoy a diverse culinary journey across 4 restaurants, relax in the spa, or explore the vibrant marine life. Easily accessible by a 45-minute seaplane ride, it’s the ultimate island escape.

Lux* North Male Atoll (under Grand Meridien)

Maldives
Concept Development, Operational Implementation, Pre-Opening services, Contract Negotations, Third Party Negotations, Operator Selection

LUX* North Male Atoll offers a fresh take on Maldivian luxury, featuring stunning oversized penthouse residences that blend super-yacht elegance with South Beach style. Opening its doors in 2019, this resort provides discerning travelers a mix of privacy, space, and uninterrupted ocean views. Guests can enjoy tailored experiences with rooftop terraces, private pools, and inspired dining options like the Peruvian-Japanese restaurant, INTI. With a focus on wellness, snorkeling, and yachting, LUX* North Male Atoll elevates island living to a new level, ensuring every moment is infused with elegance, imagination, and unforgettable memories.

Crossroads Maldives (under Singha Estate)

Maldives
Concept Development, Operational Implementation, Opening of 2 resorts and a marina, Contract Negotations, Third Party Negotations, Operator Selection

The Crossroads Project at Emboodhoo Lagoon is a landmark development by Singha Estate, redefining luxury hospitality in the Maldives. This integrated resort features the Hard Rock Hotel Maldives and Saii Lagoon, upscale overwater villas, beach suites, a vibrant marina, and retail spaces. Spanning across a reclaimed lagoon, Crossroads offers a seamless blend of modern amenities, luxury accommodation, dining, wellness, and cultural elements, creating an unparalleled guest experience. Completed in a remarkable 16-month timeframe, this project sets new standards for island living, attracting luxury travelers and investors, and enriching the Maldivian tourism landscape with its innovative, world-class offerings.

Grover's Park at Urban Isle

Maldives
Concept Development, feasibility studies, initial investment structure,

Nestled in the heart of Hulhumalé, Grover’s Park is a serene oasis, stretching across 17,000 square meters of lush greenery. This exceptional development unveils 30 to 40 exclusive residential lots, offering families, executives, and long-time foreign residents a private retreat far from the bustle of the city. Blending natural wood elements with the island’s sea-kissed beauty, Grover’s Park creates a home where cherished memories and lasting connections are built. With its gated community and 24-hour security, it provides peace of mind and a true sense of belonging. Here, amidst the shade of palm trees and the gentle murmur of waves, families will find their sanctuary, forging bonds that will span generations.

UrbanIsle by HDC

Maldives
Feasibility Studies, Masterplan, Concept Development, Investment Memorandum

The Urban Isle project in Hulhumale' redefines the concept of one-island-one-resort by introducing an Integrated Tourism masterplan in the city. Developed in a secluded, newly urbanized area separated by a water canal, this tourism island offers a diverse range of properties from luxury villas to midscale hotels, providing investors with flexible business models like lease, fixed lease, and joint venture. Catering to all traveler types, from budget to affluent guests, Urban Isle promises a variety of stays, from upscale hotels with 360° ocean views to serviced apartments for long-term digital nomads. With its modern design, luxury villas, and a 15-story multi-use tower, Urban Isle is set to be a dynamic tourism destination in the Maldives.

Yamanaka-ko Luxury Hotel

Japan
Feasibility Studies

The Yamanaka-ko luxury hotel project offers an incredible opportunity to create a sanctuary of elegance and tranquility, nestled against the stunning backdrop of Mount Fuji. This development aims to blend natural beauty with architectural sophistication, providing an exclusive retreat easily accessible from Tokyo for both quick getaways and extended stays. With a notable shortage of luxury hospitality rooms in scenic Japan, this project will fill a niche for discerning travelers seeking a serene, upscale experience. Designed by those who understand the clientele, it promises to resonate with couples, young professionals, and elegant guests seeking a sophisticated escape.

Sorena Naisoso

Fiji
Investment Structure, Fund Raising, Project Development, Operator Selection, and Negotiations

The Naisoso Project, a significant development in Fiji, is set to transform the local economy with a $500 million investment. This ambitious project, spearheaded by Sorena Naisoso, aims to create a premier mixed-use community featuring luxury residences, commercial spaces, and recreational facilities. By enhancing the region's infrastructure and providing numerous employment opportunities, the Naisoso Project is poised to drive economic growth and elevate Fiji's status as a leading destination for both investment and tourism.

Ibrahim Inaz

Training and Development | 15 Years

 

Ibrahim Inaz is a seasoned expert in training and development with over 15 years of experience in the Maldives' hospitality industry. Starting his career in the Maldives, he has specialized in talent development, leadership training, and operational excellence. Inaz is recognized for his ability to design and implement impactful training programs, fostering growth and enhancing team performance in top-tier resorts and hospitality organizations.

 


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Irina Egorova

Public Relations | Over 15 Years

 

Irina Egorova is a highly experienced PR and Marketing Director with over 15 years in the hospitality industry. She began her career specializing in cross-cultural communications for luxury travel industry, creative media planning and KOL involvement for premium hotels and resorts. Irina's expertise extends to leading multidisciplinary teams and implementing innovative PR and marketing strategies, making her a key figure in elevating brand awareness and visibility of various prestigious hospitality companies.

 


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Dominik Ruhl

Operational Management | 30 Years

 

Dominik Ruhl is a luxury resort management expert with over 30 years of global experience. Fluent in German, English, Spanish, and Italian, he has successfully led operations in 8 countries across 4 continents, including the USA, Maldives, and China. Formerly Chief Operating Officer at The Lux Collective, Dominik has held senior roles at Ritz Carlton, Four Seasons, and Hilton. He now offers bespoke consultancy, specializing in operational excellence and revenue growth

 


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Chanapach Khumkhur

Spa and Wellness | 15 Years

 

Chanapach Khumkhur is a seasoned Spa, Wellness, and Recreation Director with over 15 years of distinguished experience in luxury hospitality. Beginning her career in Thailand, she has demonstrated exceptional leadership across spa management, wellness programming, and recreation services, consistently driving guest satisfaction and operational excellence. With a Bachelor of Arts degree and a background in healthcare leadership, Chanapach is known for her innovative approach to crafting immersive wellness and recreational experiences. Her expertise in concept development, team empowerment, and customer-centric service has positioned her as a leader in creating transformative environments that enhance well-being and inspire rejuvenation.

 


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Umberto Piccolini

Food and Beverage |Over 20 years

 

With over two decades of international experience, Umberto Piccolini has mastered the art of transforming innovative food and beverage concepts into vibrant realities at luxury resorts. Starting his illustrious career at the prestigious Savoy Hotel in Egypt, Umberto has since enriched his expertise across Thailand, the Middle East, Sri Lanka, and the Maldives. His notable contributions include pioneering projects at Crossroads and Cora Cora in the Maldives and recent endeavors in developing boutique resorts in Sri Lanka. Umberto's ability to adapt and innovate within diverse culinary landscapes makes him a leading figure in the global hospitality industry.

 


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Drew Anderson

Architecture and Interior Designs | Over 20 years

 

Drew Anderson brings over two decades of expertise in luxury Resort design, seamlessly integrating guest experience with the natural environment.

Drew founded Topo in 2009 with a vision for a boutique hospitality consultancy that combines cutting edge design with the necessary specialisation in construction detailing, project management and supervision to deliver world-class luxury resorts.

At Topo, he has led the design and execution of more than 100 high-profile projects in over 20 countries, partnering with renowned designers worldwide. Drew's work is distinguished by its ability to enhance property values and guest experiences by marrying functional design with aesthetic excellence.


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Shintaro Hashimoto

Investments and Legal |10 Years of Experience

 

 

Shintaro is a real estate investment professional with extensive experience in conceptualizing, developing, and managing assets across diverse regions. Most recently, he has been actively involved with Cora Cora Maldives in partnership with Martin.

Previously, Shintaro served as Associate Director at InSitu Asia, a hospitality-focused development and operations firm, where he led hotel development, investment, and asset management initiatives in Southeast Asia and Japan.

He began his career as an analyst with an asset manager collaborating with Pegasus Capital, the former owner of Six Senses. In this role, he gained valuable experience in investment underwriting and structuring for real estate projects in Tuscany, New York, Fiji, and the United States.

Originally from Tokyo, Shintaro has lived in major cities including New York and Singapore. He graduated from New York University Abu Dhabi with a full merit scholarship and also attended New York University Stern School of Business, specializing in real estate.

 


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Martin van der Reijden

Operations and Development | 25 Years in Industry

 

With over two decades of distinguished experience, Martin van der Reijden is a leading hotelier in hospitality operations and development. He began his illustrious career with Hilton International, advancing to the position of General Manager, and has worked across Europe, Southeast Asia, and Australia. He then transitioned into Interior Design, progressively mastering complex development projects that drive innovation and sustainable growth. His profound expertise includes spearheading large-scale international initiatives, where he applies exceptional analytical skills and strategic foresight. Martin’s methodologies are celebrated for their precision and impact, significantly enhancing operational efficiency and profitability across the hospitality sector. His leadership not only navigates but also shapes industry standards, positioning him as a definitive expert in his field.

 


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