PAPEETE, Tahiti--(BUSINESS WIRE)--Hawaii’s largest locally owned design firm Group 70 International, Inc. (G70) today submitted its team of world-class investors from the U.S., Tahiti, China, France and Mexico to the French Polynesian government for the new 130-acre Tahiti Mahana Beach Resort and Spa. Since winning the bid in July 2014, G70 has worked diligently to secure investors who have committed to providing more than $3 billion for this innovative project anticipated to be one of the largest resorts in the Pacific.
“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, Arch. D., FAIA, AICP, LEED AP. “All members of this power group of international investors are fully committed to the success of this project and look forward to working with local stakeholders to offer the world a unique tourist destination that highlights the values and traditions of the Polynesian culture.”
G70, Hawaii’s leading design firm, was selected by jury as the architect, interior designer and civil engineer on record. CBRE Group, the world’s largest commercial real estate services firm serving owners, investors and occupiers, will provide financial and project management services.
The following investors have committed more than $3 billion to the development of the Tahiti Mahana Beach Resort and Spa which will be located in Papeete on Tahiti’s west side:
- Five significant Tahitian companies including: Le groupe 3 Brasseurs, Imagine Promotion, La Societe Polynesienne des Eaux, Enterprise MT2, and La Societe GAZ de Tahiti.
- VINCI: The world’s leading concession and construction group that designs, finances, builds and operates infrastructure and facilities that help improve daily life and mobility for all.
- COFELY Polynesia: A subsidiary of GDF SUEZ, the number-one independent power producer in the world.
- Aquakita: The largest developer of waterparks in the world, owned by Carlos Slim, a Mexican business magnate, investor and philanthropist.
- Beauty Legend Holding Limited: A large and diversified real estate and energy group from China.
G70 is in discussions with additional local and international investors.
“We are one major step closer to helping French Polynesia realize its dream of building a truly sustainable economy,” said Oda.
Mahana Beach’s design pays homage to the unique characteristics of French Polynesian culture, while offering guests an unparalleled tropical retreat with sustainable design elements throughout. The waterfront project includes five international class hotels, a timeshare, condominiums, a marina, a retail mall, an aquatic park, a casino, a convention center, theaters and luxury retail shops. G70 anticipates breaking ground on the project in 2015 with target completion in 2021.
About Group 70 International, Inc.
An award-winning design firm founded in Honolulu in 1971, Group 70 International is dedicated to a collaborative approach and committed to design that reflects the community in which the project serves. G70 provides leading-edge creativity for projects including resorts, office buildings, mixed-use complexes, multi-family housing, educational facilities and planned communities, while also focusing on indigenous planning. The firm’s commitment to sustainable practices garnered a 2014 Pacific Business News inaugural “Best in Sustainability” award and is reflected in its varied collection of LEED-certified, net-zero, and HI-CHPS-certified (Hawaii Collaborative for High Performing Schools) projects. For more information on Hawaii’s leading design firm specializing in planning, architecture, interior design, civil engineering and sustainability, visit www.group70int.com.