The Fijian Teachers Association (FTA) is currently waiting for the final valuation report for a $23 million building project, expected to be completed by the end of this year. This new structure will enhance the FTA’s headquarters in Suva.
FTA general secretary Paula Manumanunitoga shared that the association has hired local engineer and architect Ulaiasi Baivatu, who has developed initial ground plans for the upcoming building. The association also consulted property valuation specialist Keni Dakuidreketi.
“We are currently awaiting the final valuation report from Mr. Dakuidreketi regarding the projected value of the new building,” Mr. Manumanunitoga noted, adding that Dakuidreketi has verbally indicated that the value would likely exceed $23,000.
Mr. Manumanunitoga expressed optimism about their discussions with potential financial institutions, as three commercial banks have demonstrated interest in the project. He is confident that the FTA will secure the necessary funding for construction.
“We are hopeful about this project through a loan from banks, as they have indicated willingness to provide financing for the construction,” Mr. Manumanunitoga mentioned. “The interested banks include BSP, HFC, Merchant Bank, Westpac Bank, and possibly the Bank of Baroda.”