Cashed-up Chinese are targeting private resort islands in Fiji.
They are planning to spend tens of millions on prized real estate in the South Pacific island country, Apple Daily reported Tuesday, citing Lin Dong, founder of the China Island Owners Association.
One such island was recently snapped up for three million yuan (US$483,490) for a 99-year lease, Lin said.
He said Fiji assets are becoming increasingly attractive amid plans to introduce direct flights from China anytime soon.
About 60 percent of visitors to Fiji are from the Chinese mainland.
Buyers of private islands plan to develop them into tourist attractions with the required infrastructure such as roads, bridges and ports, he said.
Most of these islands are being used for private purposes but their value will significantly rise when they are fully developed.
The association was founded in 2012 with 53 members.
They own more than 80 islands in various locations, mostly for private use, Lin said.
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