More than 350 people will be involved in the construction of a luxury hotel called Island Grace on Vunabaka, Malolo Island.
Vunabaka Managing Director, Andrew Griffiths said the marina development is already underway and other projects will start within the next few weeks.
Griffiths said the total project is worth $350 million.
He confirmed that Vunabaka also managed to get a $20 million loan from the Fiji Development Bank.
Each site purchased at Vunabaka includes a marina berth for up to a 10 metre vessel.
Vunabaka will feature the luxury hotel called Island Grace, plus 73 Fijian style privately owned villas.
Once complete, the $140 million project will also include shops, restaurants, bars, a fitness centre, tennis courts, a spa and a full service marina.
Presales at Vunabaka now exceed Stage One civil construction costs, with 65% of the Stage One sites sold.
The remaining marina, ocean front and beach lots range from US$600,000 to US$1.5m + VAT.
