Hawaiian design firm G70 International (G70) has secured investment deals with a number of companies in the US, Tahiti, China, France and Mexico to work on the 130-acre (53-hectare) Tahiti Mahana Beach Resort and Spa. Commitments from these sources add up to more than US$3bn (€2.8bn, £2bn).
In July 2014, G70 was awarded the contract for the resort, which is also backed by the French Polynesian government. The design practice now acts as the architect, interior designer and civil engineer for the project. Commercial real estate services company CBRE Group will provide financial and project management services.
Aside from the French Polynesian government, investing companies include five Tahitian firms: Le groupe 3 Brasseurs, Imagine Promotion, La Societe Polynesienne des Eaux, Enterprise MT2 and La Societe GAZ de Tahiti.
Other global companies involved are Vinci; Cofely Polynesia, a subsidiary of independent power producer GDF Suez; waterpark developer Aquakita; plus Chinese real estate and energy group Beauty Legend Holding Limited.
The waterfront project – to be located in Papeete on Tahiti’s west side – is set to feature five hotels, a timeshare, condominiums, a marina, a retail mall, an aquatic park, a casino, a convention centre and theatres. G70 expects to break ground in 2015, with completion targeted for 2021.
“Group 70’s intention is to enhance local ownership to the maximum extent possible, while teaming with top international expertise, financing and resources,” said Group 70 Chairman Francis Oda. “We are one major step closer to helping French Polynesia realise its dream of building a truly sustainable economy.”
