The Fijian Teachers Association (FTA) is currently waiting for the final valuation report concerning a $23 million building project set to begin by the end of the year. This new building will be an extension of the FTA’s headquarters in Suva.
Paula Manumanunitoga, the FTA’s general secretary, stated that they have hired local engineer and architect Ulaiasi Baivatu, who is responsible for the initial groundwork planning of the project. Additionally, property valuation expert Keni Dakuidreketi has been engaged to provide a valuation for the future building.
“We are currently anticipating the final valuation report from Mr. Dakuidreketi regarding the value of the new building yet to be constructed,” Mr. Manumanunitoga mentioned. He noted that Dakuidreketi has verbally indicated that the building’s value would exceed $23,000.
Mr. Manumanunitoga also shared that initial talks with several banks have been positive, with three commercial banks expressing interest in financing the project. He expressed confidence that the FTA would secure funding for the construction.
“We believe that this project will move forward with assistance from banks that have shown readiness to fund the construction,” he added. The banks involved include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.