Vanuabalavu Vision Limited aims to boost its annual revenue to over $800,000 with the inauguration of the Vanuabalavu House this week. The new two-storey commercial complex is located at the corner of Ratu Sukuna Road and Crawford Avenue in Nasese and has cost over $3.2 million to complete.
Business and property manager Tomi Finau disclosed that Vanuabalavu Vision Limited owns three properties: Mualevu House on Gorrie Street in Suva, two executive residential apartments in Viti Towers, Wailoku, and the newly built Vanuabalavu House in Nasese.
According to Finau, the construction of Vanuabalavu House aims to increase the revenue for Vanuabalavu Vision Limited and its stakeholders. “Last year, our total revenue reached over $400,000. With Vanuabalavu House, this figure should rise to more than $800,000 annually,” said Finau. “This is beneficial for the business as we are involved in property and equity investment, always looking to boost revenue and profits for our shareholders.”
Designed by Ulaiasi Baivatu of Clear View Architect, Vanuabalavu House is envisioned as a commercial retail complex. The project was funded through equity contribution and financing from Bank South Pacific. Construction began in February last year, but supply chain challenges and shipping delays for steel frames from China to Fiji postponed completion to June 2024. Upon the arrival of the steel frames, the contractor needed five months to complete the building.
The Vanuabalavu House spans 483 square meters and includes four tenancy units designated for a bakery and coffee shop, a restaurant, and two office spaces. “This building symbolizes the investment of the Vanuabalavu people and their friends, and it’s something everyone can take pride in,” said Finau. “It marks our first venture into commercial retail space. We are looking for a fine dining iTaukei food restaurant to occupy Vanuabalavu House, catering to the corporate or expatriate community seeking a quiet dining experience. Suva has a lack of fine dining options that offer true iTaukei cuisine.”
The new building features a ground level and a top floor, with two office spaces on the upper level, ideal for accountants, lawyers, or professionals wishing to stay close to the Central Business District without dealing with traffic congestion.
Vanuabalavu House is set to open for business on Friday, July 19, with representatives and families from the Tikina of Lomaloma and Mualevu in Suva officiating the ceremony.