New Tahitian Village deadline arrives for NZ investors

6:45 am on 7 May 2019

New Zealand consortium Kaitiaki Tagaloa has until today to secure funding for the Pacific's biggest hotel project planned in French Polynesia.

Vice president Teva Rohfritsch and Tukoroirangi Morgan of Kaitiaki Tagaloa at the signing ceremony.

Vice president Teva Rohfritsch and Tukoroirangi Morgan of Kaitiaki Tagaloa at the signing ceremony. Photo: Supplied / Présidence de la Polynésie française

The group missed an earlier deadline on 22 March to produce guarantees proving it had funding of $US700 million to build a large part of the Tahitian Village complex.

After missing the first deadline, the consortium's head, Tukoroirangi Morgan, said he was in contact with 17 Māori tribes from the North Island to be included in the project.

The minister overseeing the Tahitian Village development, Teva Rohfritsch, said other investors were ready to step up, should the New Zealand bid fail to materalise.

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.

The consortium 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 is a downscaled successor project to the $US3 billion Mahana Beach project which was abandoned after facing funding problems.

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