The Fijian Teachers Association (FTA) is currently awaiting the final valuation report for a $23 million building slated for construction by the end of this year. This new structure will serve as an additional facility at the FTA’s headquarters in Suva.
FTA General Secretary Paula Manumanunitoga mentioned that they have hired local engineer and architect Ulaiasi Baivatu, who has prepared the initial ground plans for the building. They have also enlisted the expertise of Keni Dakuidreketi, a property valuation specialist.
Manumanunitoga stated they are expecting the final valuation report from Dakuidreketi regarding the projected value of the building, which he has verbally indicated may exceed $23,000.
In addition, preliminary discussions with various banks have been positive, with interest shown by three commercial banks. Manumanunitoga expressed confidence in the association’s ability to secure funding for the building’s construction through loans from banks willing to offer financial support.
The banks interested in financing include BSP, HFC, Merchant Bank, Westpac Bank, and potentially the Bank of Baroda.