The Fijian Teachers Association (FTA) is currently waiting for the final valuation report regarding a new $23 million building planned for completion by the end of this year. This building will expand the FTA’s headquarters located in Suva.
FTA general secretary Paula Manumanunitoga stated that the association has hired local engineer and architect Ulaiasi Baivatu, who has already created initial ground plans for the construction. Additionally, Keni Dakuidreketi, an expert in property valuation, has been brought on board.
Mr. Manumanunitoga mentioned that they are anticipating the final valuation report from Mr. Dakuidreketi for the new building, noting that he has informally indicated the value could exceed $23,000.
He also shared that discussions with banks have been progressing positively, with three commercial banks expressing interest in financing the project. The FTA is optimistic about securing funding through loans to support the construction efforts.
Banks that have shown interest include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.