Beaches is Frasers Property's final precinct at the Coast Papamoa Beach beachside estate and has 23 exclusive sections selling from $585,000 to more than $1.7 million.
Reddy said the proximity to the beach and intensification of property both in the Bay of Plenty and nationwide meant the shared space had proved to be an attractive and unique real estate option for people.
"We have built on our success throughout the rest of the development and believe we have created something truly special and unique in the Bay of Plenty," he said.
As part of the development, Frasers Property restored and set aside 1.2ha of land as a conservation area.
Consulting engineers Aurecon developed a system of boardwalks and dune protection measures to ensure the long-term sustainability of the dune and stormwater system.
Aurecon engineer Neill Raynor developed a system to enable retention and reuse of all stormwater on site through the central reserve area.
Boffa Miskell landscape architect and urban designer Morné Hugo said the precinct's focal point of a 1400sq m central shared reserve space provided an opportunity to deliver a high level of design with a unique modern coastal feel.
"More often than not a design and concept is constantly pegged back due to budgets and funding constraints," he said.
"It's all been designed to be pretty robust and low maintenance for the beach experience."