The $250 million Vatu Talei Resort development in Nadi is progressing “extremely fast” and expected to be nearing completion by the end of the year.
Vatu Talei is a joint venture partnership between insurance service provider BSP Life with national airline Fiji Airways; and is envisioned to support the growth ambitions of the country’s tourism industry and also provide continued sustainable outcomes for policyholders.
“At this stage, it’s performing very well,” BSP Life managing director Michael Nacola said.
“It has been managed by a highly capable team – and that’s one of the standouts for this business, everywhere we look, we’ve got strong capability and talent, which gives us the confidence that if we want to do something, the ability to execute it is there.
“We’ve got an extremely capable team at Vatu Talei and there’s daily oversight of all the moving parts.
“At this stage, barring anything else that might come through that we haven’t anticipated, we’re on track; a lot of work still to do, but thankfully we’re on track,” he said.
Meanwhile, earlier this week BSP Life had announced a customer bonus of $45.3m for the 2025 financial year.
Mr Nacola said the Vatu Talei hotel project was important to ensure the insurance provider could sustain the performance of the bonuses it was currently allocating.
Construction work progressing on the $250m Vatu Talei hotel development project on Denarau Island in Nadi. Picture: SUPPLIED / BSP LIFE
