A New Zealand-Samoan consortium is on target to build a $US700 million hotel and accommodation complex in French Polynesia.
French Polynesian politician Teva Rohfritsch Photo: Supplied / Présidence de la Polynésie française
The consortium, Kaitiaki Tagaloa, and the French Polynesian government have signed a protocol which allows for a 200-day period to finalise the contract to build part of the Tahitian Village resort complex.
Kaitiaki Tagaloa includes Kaitiaki Property, Iwi International and Samoa's Grey Group, which already owns and runs five high-end hotels in Tahiti, Moorea and Bora Bora.
The Tahitian Village project includes three-to five-star hotels and apartment complexes, totalling more than 1500 units.
About 2500 people are expected to be employed for the construction phase.
Kaitiaki Tagaloa, which is led by former New Zealand politician Tukoroirangi Morgan, was chosen as preferred bidder in April but the government decided to defer any final decision until after the territorial election in May.
In 2014, a Hawaiian company, Group 70 International, had been selected for the project but it was derailed amid problems securing the $US3 billion needed for it to go ahead.
At the beginning of the year, there was a claim by former president Gaston Flosse that a United Arab Emirates company was prepared to lend huge sums to fund the project.