The Fijian Teachers Association (FTA) is awaiting the final valuation report for the construction of a new building valued at $23 million, scheduled to be completed by the end of this year. This building will serve as an additional facility at the FTA headquarters located in Suva.
FTA general secretary Paula Manumanunitoga disclosed that they have partnered with local engineer and architect Ulaiasi Baivatu, who has drafted the initial ground plan for the new structure. Furthermore, the association has enlisted the expertise of property valuation specialist Keni Dakuidreketi.
“We are now in line for the final valuation report from Mr. Dakuidreketi regarding the construction project’s value,” Mr. Manumanunitoga explained. He added that Dakuidreketi has verbally indicated the value may exceed $23,000.
Progress in preliminary discussions with banks has been positive, with three commercial banks expressing interest in financing the project. Mr. Manumanunitoga expressed confidence that the FTA would secure funding to bring the construction to fruition.
“We are optimistic about this project and are discussing loan options with banks that have shown a willingness to support the construction,” he stated. Among the potentially interested banks are BSP, HFC, Merchant Bank, Westpac Bank, and possibly the Bank of Baroda.