Deadline looms for huge NZ deal in Tahiti

2:49 pm on 7 May 2019

Only hours remain for the New Zealand consortium Kaitiaki Tagaloa to secure the contract 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 government in French Polynesia has declined to say if it has received the guarantees from the New Zealanders that they have the $US700 million to build a large part of the Tahitian Village complex.

The head of the consortium, Tukoroirangi Morgan, has also declined to comment as has the head of Kaitiaki Property.

The consortium was given a new deadline of tonight in March after it failed to finalise the contract in the 200-day period agreed to last year.

The minister overseeing the development Teva Rohfritsch said last month that other investors were ready, should the New Zealanders miss today's deadline.

The Tahitian Village project includes three-to five-star hotels and apartment complexes, totalling more than 1500 units.

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

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