The Fijian Teachers Association (FTA) is in anticipation of the final valuation report for a $23 million building planned for completion by the end of this year. This structure will serve as an additional facility at the FTA headquarters in Suva.
FTA General Secretary Paula Manumanunitoga stated that the association has contracted local engineer and architect Ulaiasi Baivatu to draft the initial ground plans for the new building. Additionally, property valuation expert Keni Dakuidreketi has been engaged for the project’s valuation.
Manumanunitoga mentioned that they are currently awaiting Dakuidreketi’s final valuation report, which he has verbally indicated will exceed $23,000.
He also revealed that preliminary discussions with banks have been promising, with three commercial banks expressing interest. The FTA is optimistic about securing funding for the construction.
“We are confident in this project, as banks have shown their willingness to finance the construction through loans,” Manumanunitoga noted. The interested banks include BSP, HFC, Merchant Bank, Westpac Bank, and possibly Bank of Baroda.