The Fijian Teachers Association (FTA) is currently waiting for the final valuation report regarding a new $23 million building set for construction later this year at its headquarters in Suva.
According to FTA General Secretary Paula Manumanunitoga, the association has hired local engineer and architect Ulaiasi Baivatu to create the initial ground plans for the new structure. Additionally, property valuation specialist Keni Dakuidreketi has been engaged to assess the building’s worth.
Manumanunitoga indicated that Dakuidreketi has communicated informally that the estimated value of the forthcoming construction will exceed $23,000. Preliminary talks with banks have been positive, with interest shown by three commercial banks, leading to confidence that funding for the project will be secured.
“We are optimistic about this project, as there are banks that have expressed their readiness to finance the construction effort,” Manumanunitoga stated. Banks interested include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.