by Mia Taylor
Last updated: 3:40 PM ET, Fri March 30, 2018
A billionaire Australian developer has invested $100 million creating an ultra-exclusive resort in Fiji near one of the world's largest coral reefs.
The resort, Kokomo Private Island Fiji, has just 21 villas and is located on the site of an abandoned Aman resort project.
Lang Walker, a developer worth an estimated $2.3 billion according to Bloomberg, has poured a fortune into the tiny property in order to create an oasis for his family that will also be shared with the world.
"This is the only project I've ever really fallen in love with," Walker, 72, told Bloomberg.
One of Australia's leading developers, Walker created some of Sydney's most well-known sites including Finger Wharf and King Street Wharf.
His Kokomo Private Island Fiji, however, is not a project that's necessarily aimed at profits, at least not right away.
The property, which soft opened last year, is being created with a focus on sustainability and innovation, according to Bloomberg. But at the same time, Walker said his goal is to land the property on the shortlist of the world's best resorts.
Kokomo Private Island is located in Fiji's rural southern Kadavu island group, a place with few other hospitality options. The island offers four beaches and perhaps even more notably, access to the Great Astrolabe Reef, one of the largest reefs in the world.
"In 10 minutes you're diving in a massive drop-off among fan corals," Walker told Bloomberg.
Walker initially intended to spend about $10 million on his pet project. Creating a luxury resort on a remote island (one that charges $7,500 per night), has ended up costing far more - about $100 million to date.
Each of the property's villas has outdoor showers, private infinity pools, decks and even include Veuve Clicquot-stocked minibars.
The property also features new food and beverage offerings, a hilltop gym, an expanded spa and later this year, a hydroponic nursery will be added.
Still, Walker told Bloomberg, that his goal is to create a luxury resort guests can feel good about, thus its focus on sustainability. In pursuit of his goal, Walker has created an on-island water filtration system, a greywater system, and a sewage treatment plant. In addition, there's an organic garden, free-range chicken coop, beehives and more.
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