The Fijian Teachers Association (FTA) is currently awaiting the final valuation report for a $23 million building planned for completion by the end of this year. This structure will enhance the existing FTA headquarters located in Suva.
FTA General Secretary Paula Manumanunitoga mentioned that they have hired local engineer and architect Ulaiasi Baivatu, who has prepared the initial ground plan for the new building. Additionally, property valuation expert Keni Dakuidreketi has been brought on board to provide a valuation.
“We are now awaiting the final valuation report from Mr. Dakuidreketi regarding the value of the new construction,” said Mr. Manumanunitoga. He noted that Dakuidreketi had verbally suggested that the building’s worth would exceed $23,000.
Mr. Manumanunitoga also shared positive news about preliminary talks with banks, revealing that three commercial banks have expressed interest in financing the project. He is optimistic that the FTA will secure the necessary funding for the building.
“We are confident in this project and believe we can obtain a loan from banks that have shown willingness to support the construction,” he stated. Banks that may participate include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.