The Fijian Teachers Association (FTA) is currently awaiting the final valuation report for a new $23 million building slated for completion by the end of this year. This new construction will serve as an extension of the FTA’s headquarters in Suva.
FTA General Secretary Paula Manumanunitoga has announced that they have enlisted local engineer and architect Ulaiasi Baivatu, who is responsible for the initial ground planning of the building. Additionally, property valuation expert Keni Dakuidreketi has been brought on board.
“We are waiting for the final valuation report from Mr. Dakuidreketi regarding the value of the new building, which he has verbally indicated will exceed $23,000,” Mr. Manumanunitoga stated.
The association has also had positive preliminary discussions with banks, with three commercial lenders expressing interest in financing the project. Mr. Manumanunitoga expressed confidence in securing funding for the construction.
“We are optimistic about this project, especially since the banks we are in talks with have shown a willingness to support us financially,” he noted. The banks showing interest include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.