Momi Bay mortgagee sale due today

The Momi Bay Resort in Fiji. Photo / Dean Purcell

Bayleys is today auctioning the partly finished Momi Bay Resort in Fiji. The Fiji National Provident Fund appointed the agency to sell the resort development by mortgagee auction.

Up for sale is the first stage of the development with more than 350 residential sites and a partly completed nine-hole golf course, club house and hotel complex.

The fund took over the Momi Bay property, southwest of Nadi, as mortgagee in possession, and has said it has no intention of being involved in developing the property in the near future.

Failed financier Bridgecorp was a major lender.