A HONG KONG-LED consortium has been awarded a 70-year contract to build and operate a US$2.5 billion luxury beach resort in French Polynesia that the government hopes will revitalize the South Pacific nation’s struggling economy.

    Headed by real estate firm Recas Global, the consortium will finance, build and run the Tahiti Mahana Beach luxury resort, including a convention center, restaurants and shopping malls, the government said in a communique.

    Other members of the consortium include Chinese State-owned China Railway International and real estate company R&F Properties, French Polynesia President Edouard Fritch said.

    “We think French Polynesia will be the new destination for wealthy tourists from China and other parts of Asia,” said Recas Global chairman Ivan Ko.(SD-Agencies)