Vanuabalavu Vision Limited aims to boost its annual revenue to over $800,000 with the launch of its latest investment, the Vanuabalavu House, this week. The two-storey commercial complex is situated at the corner of Ratu Sukuna Road and Crawford Avenue in Nasese and required an investment of more than $3.2 million.
Tomi Finau, the business and property manager, revealed that Vanuabalavu Vision Limited owns three properties, including the Mualevu House (formerly Quality House) on Gorrie Street in Suva, two executive residential apartments in Viti Towers in Wailoku, and the new Vanuabalavu House in Nasese. The construction of the Vanuabalavu House aims to increase revenue for the company and its stakeholders.
“Last year, our total revenue surpassed $400,000, and with Vanuabalavu House, it should exceed $800,000 annually,” Finau stated. “This growth is significant as we focus on property and equity investment, continually seeking ways to enhance revenue and profits for our shareholders.”
Designed by Ulaiasi Baivatu of Clear View Architect, the Vanuabalavu House was funded through equity contributions and bank financing from Bank South Pacific. Construction began last February, but supply chain challenges and shipping issues with steel frames from China delayed the project’s completion to June 2024.
“Once the steel frames arrived, the contractor completed the building in five months. Watching the project progress was quite impressive,” Finau noted.
The Vanuabalavu House, with a floor space of 483 square meters, offers four tenancy units designated for a bakery and coffee shop, a restaurant, and two office spaces. “The building will symbolize the investments of the people of Vanuabalavu and their friends, and is something everyone can be proud of,” Finau said. He added that the company is seeking a fine dining iTaukei food restaurant for Vanuabalavu House to cater to the corporate or expatriate community, pointing out Suva’s lack of fine dining options in true iTaukei cuisine.
The Vanuabalavu House features a ground level and a top floor, with the two office spaces on the top floor, ideal for accountants, lawyers, or other professionals wanting proximity to the CBD without traffic congestion.
Set to open for business on Friday, July 19, the inauguration of Vanuabalavu House will include representatives and families from the Tikina of Lomaloma and Mualevu in Suva.